GoDaddy (NYSE:GDDY) Stock Price Expected to Rise, B. Riley Analyst Says

GoDaddy (NYSE:GDDY) had its price target lifted by investment analysts at B. Riley from $220.00 to $225.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. B. Riley’s price target indicates a potential upside of 23.24% from the company’s current price.

A number of other analysts also recently weighed in on the company. Robert W. Baird increased their price target on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. increased their price target on GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Citigroup increased their price target on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Wells Fargo & Company began coverage on shares of GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price objective on the stock. Finally, Barclays increased their price objective on shares of GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research report on Friday. Six equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $213.20.

GoDaddy Stock Performance

NYSE GDDY opened at $182.58 on Friday. The company has a market capitalization of $25.63 billion, a price-to-earnings ratio of 14.11 and a beta of 1.15. GoDaddy has a twelve month low of $108.02 and a twelve month high of $216.00. The stock has a fifty day simple moving average of $204.20 and a 200 day simple moving average of $180.06. 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 (NYSE:GDDY) last issued 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 business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. Sell-side analysts expect that GoDaddy will post 4.96 EPS for the current year.

Insider Activity at GoDaddy

In other GoDaddy news, CAO Phontip Palitwanon sold 770 shares of GoDaddy stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total transaction of $151,412.80. Following the transaction, the chief accounting officer now owns 23,059 shares of the company’s stock, valued at $4,534,321.76. This trade represents a 3.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $197.77, for a total transaction of $593,310.00. Following the transaction, the chief executive officer now directly owns 342,956 shares in the company, valued at approximately $67,826,408.12. This represents a 0.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,482 shares of company stock valued at $4,709,650. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GoDaddy

Hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in shares of GoDaddy by 3.4% during 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 purchased a new stake in shares of GoDaddy during the 3rd quarter worth approximately $1,132,000. CWA Asset Management Group LLC increased its stake in shares of GoDaddy by 29.2% during the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock worth $3,172,000 after purchasing an additional 3,631 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of GoDaddy by 28.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock worth $6,907,000 after purchasing an additional 9,631 shares during the last quarter. Finally, Dai ichi Life Insurance Company Ltd increased its stake in shares of GoDaddy by 39.6% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock worth $9,410,000 after purchasing an additional 17,021 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

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.