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

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

A number of other analysts have also recently weighed in on GDDY. B. Riley raised their price target on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a report on Friday. Benchmark raised their price target on shares of GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a report on Thursday. Raymond James raised their price target on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 21st. Barclays raised their price target on shares of GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a report on Friday. Finally, Morgan Stanley raised their price target on shares of GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

GoDaddy Stock Down 14.1 %

Shares of GoDaddy stock opened at $182.58 on Friday. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. GoDaddy has a 1 year low of $108.02 and a 1 year high of $216.00. The firm’s 50-day moving average is $204.20 and its two-hundred day moving average is $179.81. The stock has a market cap of $25.63 billion, a price-to-earnings ratio of 14.11 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (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%. As a group, research analysts expect that GoDaddy will post 4.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GoDaddy news, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $103,850.00. Following the completion of the transaction, the director now directly owns 22,621 shares of the company’s stock, valued at approximately $4,698,381.70. This trade represents a 2.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $623,100.00. Following the transaction, the chief executive officer now directly owns 330,153 shares of the company’s stock, valued at $68,572,778.10. This represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,482 shares of company stock valued at $4,709,650. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On GoDaddy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in shares of GoDaddy during the 3rd quarter worth approximately $27,000. Anchor Investment Management LLC acquired a new stake in shares of GoDaddy during the 3rd quarter worth approximately $31,000. Versant Capital Management Inc acquired a new stake in shares of GoDaddy during the 4th quarter worth approximately $43,000. Rakuten Securities Inc. grew its stake in shares of GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after purchasing an additional 165 shares during the period. Finally, Huntington National Bank grew its stake in shares of GoDaddy by 298.7% during the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after purchasing an additional 230 shares during the period. 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.