Raymond James Boosts GoDaddy (NYSE:GDDY) Price Target to $175.00

GoDaddy (NYSE:GDDY) had its target price raised by Raymond James from $150.00 to $175.00 in a research note published on Friday morning, Benzinga reports. The firm currently has a strong-buy rating on the technology company’s stock.

Several other equities analysts also recently issued reports on GDDY. Benchmark reissued a buy rating and issued a $158.00 target price on shares of GoDaddy in a research report on Monday, July 29th. Morgan Stanley lifted their target price on GoDaddy from $132.00 to $137.00 and gave the stock an equal weight rating in a report on Friday, May 3rd. Royal Bank of Canada raised their price target on shares of GoDaddy from $124.00 to $145.00 and gave the stock an outperform rating in a research report on Friday, May 3rd. B. Riley upped their price target on shares of GoDaddy from $143.00 to $170.00 and gave the company a buy rating in a report on Friday, July 12th. Finally, Evercore ISI lifted their price objective on GoDaddy from $110.00 to $135.00 and gave the company an in-line rating in a research note on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $161.25.

GoDaddy Stock Down 2.3 %

NYSE:GDDY traded down $3.47 during mid-day trading on Friday, hitting $147.78. 586,398 shares of the company’s stock traded hands, compared to its average volume of 1,620,744. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market capitalization of $21.09 billion, a P/E ratio of 12.28 and a beta of 1.14. The company has a fifty day moving average of $141.77 and a 200 day moving average of $127.32. GoDaddy has a twelve month low of $69.18 and a twelve month high of $152.09.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.06). The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 363.95%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 earnings per share. On average, analysts forecast that GoDaddy will post 4.81 EPS for the current year.

Insider Activity at GoDaddy

In other GoDaddy news, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $138.84, for a total value of $555,360.00. Following the completion of the sale, the chief operating officer now directly owns 196,632 shares in the company, valued at approximately $27,300,386.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Mark Mccaffrey sold 4,058 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $133.69, for a total value of $542,514.02. Following the transaction, the chief financial officer now directly owns 112,473 shares in the company, valued at $15,036,515.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $138.84, for a total value of $555,360.00. Following the sale, the chief operating officer now directly owns 196,632 shares of the company’s stock, valued at approximately $27,300,386.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,071 shares of company stock valued at $6,385,206. 0.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GoDaddy

A number of hedge funds have recently modified their holdings of GDDY. V Square Quantitative Management LLC purchased a new stake in GoDaddy during the fourth quarter worth about $28,000. Transcendent Capital Group LLC purchased a new position in GoDaddy in the 2nd quarter valued at approximately $28,000. GAMMA Investing LLC increased its position in shares of GoDaddy by 102.3% during the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after acquiring an additional 133 shares during the period. ORG Partners LLC acquired a new stake in shares of GoDaddy in the second quarter valued at $32,000. Finally, Frazier Financial Advisors LLC purchased a new stake in GoDaddy during the 4th quarter worth about $33,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

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.