Brokerages Set GoDaddy Inc. (NYSE:GDDY) Price Target at $166.54

Shares of GoDaddy Inc. (NYSE:GDDY) have been given an average recommendation of “Moderate Buy” by the fourteen analysts that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $166.54.

Several equities analysts have recently commented on the stock. Benchmark restated a “buy” rating and issued a $186.00 target price on shares of GoDaddy in a research report on Tuesday, October 15th. Royal Bank of Canada boosted their target price on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research report on Monday, October 7th. Piper Sandler restated a “neutral” rating and issued a $172.00 target price (up from $160.00) on shares of GoDaddy in a research report on Monday, September 23rd. Finally, B. Riley upped their price objective on shares of GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, July 12th.

GoDaddy Stock Performance

NYSE GDDY opened at $160.53 on Tuesday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13. The company has a market capitalization of $22.63 billion, a P/E ratio of 12.83 and a beta of 1.12. GoDaddy has a 12-month low of $71.15 and a 12-month high of $167.65. The firm has a 50-day moving average price of $159.26 and a two-hundred day moving average price of $145.92.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.06). The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. GoDaddy’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 earnings per share. Analysts anticipate that GoDaddy will post 5.07 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total value of $439,440.00. Following the completion of the transaction, the chief executive officer now directly owns 362,398 shares in the company, valued at approximately $53,084,059.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total value of $585,920.00. Following the sale, the chief operating officer now directly owns 188,632 shares of the company’s stock, valued at approximately $27,630,815.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total transaction of $439,440.00. Following the completion of the sale, the chief executive officer now directly owns 362,398 shares in the company, valued at approximately $53,084,059.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,744 shares of company stock worth $5,114,931. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GoDaddy

A number of institutional investors have recently modified their holdings of GDDY. Price T Rowe Associates Inc. MD boosted its stake in shares of GoDaddy by 94.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after purchasing an additional 1,775,708 shares during the last quarter. Kodai Capital Management LP bought a new stake in shares of GoDaddy in the 1st quarter valued at $75,855,000. Federated Hermes Inc. boosted its stake in shares of GoDaddy by 35.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after purchasing an additional 394,399 shares during the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of GoDaddy by 2,279.5% in the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock valued at $62,908,000 after purchasing an additional 384,386 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in GoDaddy by 2.6% during the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after acquiring an additional 379,228 shares in the last quarter. 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.