GoDaddy (NYSE:GDDY) Stock Rating Reaffirmed by Piper Sandler

GoDaddy (NYSE:GDDY)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Piper Sandler in a research report issued on Monday, Marketbeat reports. They presently have a $172.00 price objective on the technology company’s stock, up from their previous price objective of $160.00. Piper Sandler’s target price suggests a potential upside of 9.01% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. B. Riley increased 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. Royal Bank of Canada increased their price target on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, August 5th. JPMorgan Chase & Co. increased their price target on shares of GoDaddy from $136.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. Finally, Cantor Fitzgerald assumed coverage on shares of GoDaddy in a report on Thursday, September 5th. They issued a “neutral” rating and a $170.00 price target on the stock. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $165.00.

GoDaddy Stock Down 0.5 %

Shares of GDDY stock opened at $157.78 on Monday. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. The firm’s 50-day moving average is $154.79 and its 200-day moving average is $139.74. The stock has a market cap of $22.51 billion, a price-to-earnings ratio of 13.10 and a beta of 1.13. GoDaddy has a 52-week low of $71.15 and a 52-week high of $167.65.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The firm’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 company posted $0.63 earnings per share. Sell-side analysts predict that GoDaddy will post 5.06 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Amanpal Singh Bhutani sold 4,500 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $629,055.00. Following the sale, the chief executive officer now owns 365,398 shares in the company, valued at approximately $51,078,986.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Amanpal Singh Bhutani sold 4,500 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $629,055.00. Following the sale, the chief executive officer now owns 365,398 shares in the company, valued at approximately $51,078,986.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sigal Zarmi sold 400 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the sale, the director now owns 4,661 shares in the company, valued at approximately $734,620.21. The disclosure for this sale can be found here. Insiders have sold a total of 31,744 shares of company stock worth $4,816,386 in the last quarter. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC raised its stake in shares of GoDaddy by 70.1% during the fourth quarter. Corient Private Wealth LLC now owns 5,190 shares of the technology company’s stock valued at $551,000 after acquiring an additional 2,138 shares during the last quarter. Quest Partners LLC bought a new position in GoDaddy during the fourth quarter worth $196,000. Franklin Resources Inc. raised its stake in GoDaddy by 58.1% during the fourth quarter. Franklin Resources Inc. now owns 23,605 shares of the technology company’s stock worth $2,506,000 after buying an additional 8,675 shares during the last quarter. US Bancorp DE raised its stake in GoDaddy by 1.4% during the fourth quarter. US Bancorp DE now owns 35,799 shares of the technology company’s stock worth $3,800,000 after buying an additional 507 shares during the last quarter. Finally, Orion Portfolio Solutions LLC raised its stake in GoDaddy by 1.3% during the fourth quarter. Orion Portfolio Solutions LLC now owns 20,419 shares of the technology company’s stock worth $2,082,000 after buying an additional 267 shares during the last quarter. Institutional investors 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.