Analysts Set GoDaddy Inc. (NYSE:GDDY) Price Target at $171.38

GoDaddy Inc. (NYSE:GDDY) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $173.31.

A number of research analysts recently issued reports on the company. Piper Sandler boosted their price objective on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Barclays boosted their price target on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a report on Monday, October 7th. Raymond James upped their price objective on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada upped their price objective on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, November 1st.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $196.41 on Friday. GoDaddy has a twelve month low of $94.50 and a twelve month high of $196.71. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The company has a market capitalization of $27.57 billion, a price-to-earnings ratio of 15.18 and a beta of 1.11. The business has a 50 day simple moving average of $165.74 and a 200-day simple moving average of $152.83.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results 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. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the business earned $0.89 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts expect that GoDaddy will post 4.95 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Brian Sharples sold 500 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $179.00, for a total value of $89,500.00. Following the completion of the sale, the director now directly owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. This represents a 2.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the sale, the chief financial officer now directly owns 101,286 shares of the company’s stock, valued at approximately $16,686,868.50. This represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,845 shares of company stock valued at $4,803,380. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in GoDaddy by 3.4% in the 3rd 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 during the last quarter. Highland Capital Management LLC acquired a new position in GoDaddy in the 3rd quarter worth about $1,132,000. Plato Investment Management Ltd increased its position in GoDaddy by 2,471.0% in the 1st quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock worth $769,000 after purchasing an additional 6,227 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in GoDaddy by 20.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock worth $25,469,000 after purchasing an additional 35,703 shares during the last quarter. Finally, Swedbank AB increased its position in GoDaddy by 3.5% in the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock worth $21,425,000 after purchasing an additional 5,247 shares during the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

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.