Brokerages Set GoDaddy Inc. (NYSE:GDDY) Target Price at $166.54

Shares of GoDaddy Inc. (NYSE:GDDY) have been given an average recommendation of “Moderate Buy” by the fifteen research firms that are covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $166.54.

Several equities analysts recently commented on the company. Benchmark upped their price objective on GoDaddy from $170.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a report on Monday. Royal Bank of Canada boosted their target price on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Robert W. Baird boosted their target price on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th.

GoDaddy Price Performance

GoDaddy stock opened at $154.43 on Friday. GoDaddy has a 12 month low of $71.15 and a 12 month high of $167.65. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. The business’s 50 day simple moving average is $156.28 and its 200 day simple moving average is $141.31. The company has a market cap of $22.04 billion, a price-to-earnings ratio of 12.83 and a beta of 1.13.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the company posted $0.63 EPS. GoDaddy’s revenue for the quarter was up 7.3% on a year-over-year basis. Sell-side analysts forecast that GoDaddy will post 5.06 EPS for the current year.

Insider Transactions at GoDaddy

In related news, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total value of $855,800.00. Following the completion of the transaction, the chief financial officer now directly owns 93,102 shares in the company, valued at $14,486,671.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total transaction of $855,800.00. Following the completion of the sale, the chief financial officer now directly owns 93,102 shares in the company, valued at $14,486,671.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Sigal Zarmi sold 400 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the sale, the director now owns 4,661 shares of the company’s stock, valued at $734,620.21. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,744 shares of company stock valued at $4,950,771. 0.61% of the stock is currently owned by company insiders.

Institutional Trading of GoDaddy

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in GoDaddy by 2.6% during the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock valued at $1,748,603,000 after buying an additional 379,228 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of GoDaddy by 94.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after purchasing an additional 1,775,708 shares during the period. Federated Hermes Inc. boosted its holdings in shares of GoDaddy by 35.6% during the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after purchasing an additional 394,399 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of GoDaddy by 13.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 905,858 shares of the technology company’s stock worth $96,166,000 after purchasing an additional 110,076 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of GoDaddy by 37.7% during the second quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock worth $120,305,000 after purchasing an additional 235,934 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

About GoDaddy

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.