GoDaddy (NYSE:GDDY) Stock Price Expected to Rise, Robert W. Baird Analyst Says

GoDaddy (NYSE:GDDY) had its price objective lifted by Robert W. Baird from $190.00 to $200.00 in a report released on Thursday morning, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other research firms have also recently issued reports on GDDY. B. Riley increased their price objective on shares of GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a report on Friday, July 12th. Barclays increased their price target on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Piper Sandler reaffirmed a “neutral” rating and set a $172.00 target price (up previously from $160.00) on shares of GoDaddy in a research note on Monday, September 23rd. Finally, Royal Bank of Canada lifted their target price on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $171.38.

GoDaddy Stock Down 2.1 %

Shares of GoDaddy stock opened at $163.36 on Thursday. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.48. GoDaddy has a 1-year low of $74.12 and a 1-year high of $171.93. The business’s fifty day moving average price is $159.18 and its two-hundred day moving average price is $147.27. The company has a market capitalization of $23.03 billion, a P/E ratio of 12.62 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 earnings per share. As a group, research analysts forecast that GoDaddy will post 5.09 EPS for the current year.

Insider Transactions at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total value of $500,730.00. Following the completion of the transaction, the chief executive officer now owns 358,773 shares of the company’s stock, valued at approximately $59,882,801.43. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total transaction of $500,730.00. Following the transaction, the chief executive officer now directly owns 358,773 shares of the company’s stock, valued at approximately $59,882,801.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $157.61, for a total value 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,744 shares of company stock valued at $4,089,571 over the last ninety days. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of GoDaddy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock valued at $1,748,603,000 after acquiring an additional 379,228 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in 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 valued at $433,895,000 after purchasing an additional 1,775,708 shares during the last quarter. Federated Hermes Inc. grew its stake in GoDaddy by 35.6% in the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after purchasing an additional 394,399 shares in the last quarter. Dimensional Fund Advisors LP increased its position in GoDaddy by 37.7% in the 2nd 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 last quarter. Finally, Fiera Capital Corp raised its stake in shares of GoDaddy by 1.6% during the 2nd quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock worth $115,725,000 after purchasing an additional 13,206 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Company Profile

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.