GoDaddy (NYSE:GDDY) Given New $225.00 Price Target at B. Riley

GoDaddy (NYSE:GDDY) had its price objective upped by investment analysts at B. Riley from $220.00 to $225.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. B. Riley’s target price indicates a potential upside of 22.61% from the stock’s previous close.

GDDY has been the subject of a number of other reports. Barclays raised their price objective on shares of GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research note on Friday. Robert W. Baird raised their price target on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Morgan Stanley upped their price objective on GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday. Royal Bank of Canada reiterated an “outperform” rating and set a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Finally, Raymond James boosted their target price on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 21st. Six 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $206.87.

GoDaddy Price Performance

GDDY traded down $29.04 during trading on Friday, reaching $183.50. 2,344,819 shares of the stock were exchanged, compared to its average volume of 1,189,661. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $25.76 billion, a price-to-earnings ratio of 14.20 and a beta of 1.15. GoDaddy has a 1 year low of $108.02 and a 1 year high of $216.00. The business’s 50 day moving average price is $204.59 and its two-hundred day moving average price is $179.30.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. As a group, equities research analysts anticipate that GoDaddy will post 4.96 earnings per share 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 Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the transaction, the chief executive officer now owns 330,153 shares in the company, valued at approximately $68,572,778.10. This trade represents a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the sale, the chief financial officer now owns 84,300 shares of the company’s stock, valued at approximately $16,776,543. This represents a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,482 shares of company stock worth $4,709,650 in the last ninety days. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its position in shares of GoDaddy by 3.4% during the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after purchasing an additional 6,424 shares in the last quarter. Highland Capital Management LLC purchased a new stake in GoDaddy during the 3rd quarter worth $1,132,000. CWA Asset Management Group LLC lifted its holdings in GoDaddy by 29.2% in the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock worth $3,172,000 after buying an additional 3,631 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in GoDaddy by 28.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock valued at $6,907,000 after buying an additional 9,631 shares during the last quarter. Finally, Dai ichi Life Insurance Company Ltd grew its stake in shares of GoDaddy by 39.6% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock valued at $9,410,000 after acquiring an additional 17,021 shares in the last quarter. Institutional investors and hedge funds 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.