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

GoDaddy (NYSE:GDDY) had its target price hoisted by Benchmark from $186.00 to $200.00 in a research report report published on Thursday, Benzinga reports. Benchmark currently has a buy rating on the technology company’s stock.

Several other brokerages have also recently commented on GDDY. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Raymond James lifted their target price on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Barclays increased their price target on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. Finally, B. Riley upped their price target on GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a report on Friday, July 12th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $170.23.

GoDaddy Trading Down 0.3 %

Shares of GDDY traded down $0.55 during midday trading on Thursday, hitting $166.25. 434,373 shares of the stock were exchanged, compared to its average volume of 1,462,555. GoDaddy has a 52-week low of $74.12 and a 52-week high of $171.93. 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 stock has a fifty day simple moving average of $159.17 and a 200 day simple moving average of $146.82. The firm has a market cap of $23.44 billion, a P/E ratio of 12.88 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 313.25% and a net margin of 41.74%. GoDaddy’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. On average, research analysts anticipate that GoDaddy will post 5.07 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other news, CAO Nick Daddario sold 684 shares of GoDaddy stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total value of $107,545.32. Following the sale, the chief accounting officer now owns 17,704 shares of the company’s stock, valued at $2,783,599.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Sigal Zarmi sold 400 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the transaction, the director now owns 4,661 shares in the company, valued at $734,620.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Nick Daddario sold 684 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction of $107,545.32. Following the sale, the chief accounting officer now directly owns 17,704 shares in the company, valued at approximately $2,783,599.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,744 shares of company stock valued at $4,089,571. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. CWA Asset Management Group LLC purchased a new stake in shares of GoDaddy during the 3rd quarter worth approximately $1,950,000. Equitable Trust Co. raised its holdings in GoDaddy by 1.3% during the third quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock worth $1,322,000 after purchasing an additional 107 shares during the last quarter. Western Pacific Wealth Management LP purchased a new stake in GoDaddy during the third quarter worth $98,000. Principal Financial Group Inc. grew its holdings in GoDaddy by 3.4% in the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after purchasing an additional 6,424 shares during the last quarter. Finally, Hanseatic Management Services Inc. increased its position in shares of GoDaddy by 4.9% in the third quarter. Hanseatic Management Services Inc. now owns 4,793 shares of the technology company’s stock valued at $751,000 after buying an additional 224 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

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.