Morgan Stanley Boosts GoDaddy (NYSE:GDDY) Price Target to $227.00

GoDaddy (NYSE:GDDY) had its price objective raised by Morgan Stanley from $189.00 to $227.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

A number of other equities research analysts have also issued reports on GDDY. Barclays increased their target price on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Robert W. Baird increased their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Jefferies Financial Group boosted their target price on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler raised their price target on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, B. Riley lifted their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.14.

GoDaddy Trading Up 0.8 %

NYSE GDDY opened at $199.01 on Monday. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. GoDaddy has a one year low of $103.64 and a one year high of $211.11. The company’s 50 day moving average price is $197.87 and its 200 day moving average price is $170.37. The firm has a market capitalization of $27.94 billion, a price-to-earnings ratio of 15.38 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last posted its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the business posted $0.89 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts predict that GoDaddy will post 4.96 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Phontip Palitwanon sold 1,554 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $203.90, for a total transaction of $316,860.60. Following the completion of the sale, the chief accounting officer now owns 21,505 shares of the company’s stock, valued at $4,384,869.50. This represents a 6.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $207.35, for a total transaction of $207,350.00. Following the completion of the transaction, the chief operating officer now directly owns 184,632 shares in the company, valued at $38,283,445.20. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,003 shares of company stock valued at $4,462,363 in the last quarter. Insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

Several hedge funds have recently made changes to their positions in the stock. Wedge Capital Management L L P NC increased its position in GoDaddy by 2,279.5% in the third quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock worth $62,908,000 after buying an additional 384,386 shares during the period. Mizuho Securities USA LLC increased its holdings in shares of GoDaddy by 3,227.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock worth $56,709,000 after acquiring an additional 350,839 shares during the period. FMR LLC lifted its position in GoDaddy by 19.8% in the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock valued at $260,299,000 after purchasing an additional 274,014 shares during the last quarter. Dimensional Fund Advisors LP lifted 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 valued at $120,305,000 after purchasing an additional 235,934 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new position in GoDaddy during the 2nd quarter valued at about $30,785,000. Institutional investors own 90.28% of the company’s stock.

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.