GoDaddy (NYSE:GDDY) Price Target Raised to $190.00

GoDaddy (NYSE:GDDY) had its target price upped by Royal Bank of Canada from $175.00 to $190.00 in a research report report published on Friday morning, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other brokerages have also recently weighed in on GDDY. Benchmark boosted their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday. Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. B. Riley boosted their target price on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday. StockNews.com upgraded shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a report on Thursday. Finally, Robert W. Baird boosted their target price on shares of GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday. Five investment 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’s stock. Based on data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and an average price target of $171.38.

GoDaddy Stock Performance

NYSE GDDY opened at $163.36 on Friday. The firm’s fifty day moving average price is $159.18 and its two-hundred day moving average price is $147.45. The stock has a market cap of $23.03 billion, a PE ratio of 12.62 and a beta of 1.11. GoDaddy has a fifty-two week low of $74.12 and a fifty-two week high of $171.93. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.48 and a current ratio of 0.56.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the firm posted $0.89 earnings per share. GoDaddy’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts expect that GoDaddy will post 5.09 EPS for the current fiscal year.

Insider Activity

In related news, CAO Nick Daddario sold 684 shares of the company’s 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 in the company, valued at $2,783,599.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Nick Daddario sold 684 shares of the company’s 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 in the company, valued at $2,783,599.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sigal Zarmi sold 400 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the completion of the sale, the director now owns 4,661 shares in the company, valued at $734,620.21. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,744 shares of company stock worth $4,089,571. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Institutional investors have recently added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new stake in GoDaddy in the 2nd quarter worth about $28,000. ORG Wealth Partners LLC bought a new stake in GoDaddy in the 3rd quarter worth about $30,000. ORG Partners LLC bought a new stake in GoDaddy in the 2nd quarter worth about $32,000. International Assets Investment Management LLC bought a new stake in GoDaddy in the 2nd quarter worth about $36,000. Finally, New Covenant Trust Company N.A. bought a new stake in GoDaddy in the 1st quarter worth about $45,000. 90.28% of the stock is owned by 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.