GoDaddy (NYSE:GDDY) Stock Price Expected to Rise, Morgan Stanley Analyst Says

GoDaddy (NYSE:GDDY) had its price target lifted by equities research analysts at Morgan Stanley from $189.00 to $227.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price objective suggests a potential upside of 18.21% from the stock’s previous close.

Several other research firms also recently commented on GDDY. B. Riley upped their price objective on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada restated an “outperform” rating and set a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Barclays increased their target price on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Finally, Piper Sandler raised their price objective on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and an average price target of $194.14.

GoDaddy Price Performance

Shares of GDDY traded down $0.83 during midday trading on Monday, hitting $192.03. The company’s stock had a trading volume of 270,163 shares, compared to its average volume of 837,611. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy has a one year low of $103.64 and a one year high of $211.11. The stock has a market capitalization of $26.96 billion, a price-to-earnings ratio of 14.84 and a beta of 1.15. The company’s fifty day simple moving average is $196.26 and its two-hundred day simple moving average is $169.39.

GoDaddy (NYSE:GDDY) last issued its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 EPS. As a group, equities analysts expect that GoDaddy will post 4.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $597,030.00. Following the completion of the transaction, the chief executive officer now owns 333,153 shares in the company, valued at $66,300,778.53. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the completion of the transaction, the director now owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,003 shares of company stock worth $4,626,523. 0.61% of the stock is owned by insiders.

Institutional Trading of GoDaddy

Large investors have recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new stake in GoDaddy during the 3rd quarter worth $27,000. ORG Wealth Partners LLC purchased a new position in shares of GoDaddy in the 3rd quarter valued at about $30,000. Anchor Investment Management LLC purchased a new position in shares of GoDaddy in the 3rd quarter valued at about $31,000. Versant Capital Management Inc purchased a new position in shares of GoDaddy in the 4th quarter valued at about $43,000. Finally, Huntington National Bank increased its holdings in shares of GoDaddy by 298.7% in the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock valued at $48,000 after purchasing an additional 230 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.