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

GoDaddy (NYSE:GDDY) had its price objective boosted by UBS Group from $172.00 to $225.00 in a report published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

Several other equities analysts also recently commented on GDDY. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Robert W. Baird boosted their target price on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Raymond James upped their price target 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. B. Riley upped their price target on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Friday. Finally, StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and an average target price of $213.20.

GoDaddy Stock Performance

GDDY opened at $182.58 on Friday. GoDaddy has a 1-year low of $108.02 and a 1-year high of $216.00. The company has a 50 day simple moving average of $204.20 and a two-hundred day simple moving average of $179.81. 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 firm has a market cap of $25.63 billion, a P/E ratio of 14.11 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last released its earnings results 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%. Equities analysts forecast that GoDaddy will post 4.96 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Mark Mccaffrey sold 480 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $201.29, for a total value of $96,619.20. Following the transaction, the chief financial officer now directly owns 83,254 shares in the company, valued at approximately $16,758,197.66. This represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Phontip Palitwanon sold 770 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total transaction of $151,412.80. Following the completion of the transaction, the chief accounting officer now owns 23,059 shares in the company, valued at approximately $4,534,321.76. The trade was a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,482 shares of company stock valued at $4,709,650. 0.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV grew its holdings in shares of GoDaddy by 4.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 64,438 shares of the technology company’s stock worth $12,718,000 after purchasing an additional 2,769 shares during the last quarter. Westbourne Investments Inc. bought a new position in shares of GoDaddy in the fourth quarter worth about $714,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of GoDaddy by 88.2% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,381 shares of the technology company’s stock worth $213,630,000 after purchasing an additional 507,374 shares during the last quarter. Freestone Grove Partners LP bought a new position in shares of GoDaddy in the fourth quarter worth about $1,216,000. Finally, Rehmann Capital Advisory Group grew its holdings in shares of GoDaddy by 4.1% in the fourth quarter. Rehmann Capital Advisory Group now owns 1,793 shares of the technology company’s stock worth $344,000 after purchasing an additional 71 shares during the last quarter. 90.28% of the stock is currently owned by 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.