Barclays Issues Positive Forecast for GoDaddy (NYSE:GDDY) Stock Price

GoDaddy (NYSE:GDDY) had its target price raised by analysts at Barclays from $235.00 to $243.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Barclays‘s price target would indicate a potential upside of 33.10% from the stock’s previous close.

GDDY has been the topic of several other reports. Raymond James raised their target price on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. B. Riley upped their target price 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. JPMorgan Chase & Co. lifted their price target on GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Jefferies Financial Group boosted their target price on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

GoDaddy Stock Down 14.1 %

GoDaddy stock opened at $182.58 on Friday. The firm has a market capitalization of $25.63 billion, a price-to-earnings ratio of 14.11 and a beta of 1.15. The company’s 50 day simple moving average is $204.20 and its 200 day simple moving average is $180.06. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. GoDaddy has a fifty-two week low of $108.02 and a fifty-two week high of $216.00.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. As a group, sell-side analysts anticipate that GoDaddy will post 4.96 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the completion of the sale, the chief executive officer now owns 330,153 shares of the company’s stock, valued at approximately $68,572,778.10. The trade was a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $197.77, for a total transaction of $98,885.00. Following the transaction, the director now directly owns 23,621 shares in the company, valued at approximately $4,671,525.17. This represents a 2.07 % 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 valued at $4,709,650 over the last ninety days. 0.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. CWM LLC grew its position in GoDaddy by 2.7% during the third quarter. CWM LLC now owns 6,034 shares of the technology company’s stock worth $946,000 after buying an additional 159 shares in the last quarter. Creative Planning lifted its position in shares of GoDaddy by 41.6% during the 3rd quarter. Creative Planning now owns 14,187 shares of the technology company’s stock valued at $2,224,000 after acquiring an additional 4,168 shares during the period. Hengehold Capital Management LLC grew its holdings in shares of GoDaddy by 15.4% during the 3rd quarter. Hengehold Capital Management LLC now owns 2,155 shares of the technology company’s stock worth $338,000 after purchasing an additional 288 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of GoDaddy by 0.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock worth $2,837,000 after purchasing an additional 67 shares during the period. Finally, V Square Quantitative Management LLC raised its stake in GoDaddy by 37.0% in the third quarter. V Square Quantitative Management LLC now owns 2,093 shares of the technology company’s stock valued at $328,000 after purchasing an additional 565 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

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.