GoDaddy (NYSE:GDDY) Price Target Increased to $135.00 by Analysts at Evercore ISI

GoDaddy (NYSE:GDDY) had its price target boosted by Evercore ISI from $110.00 to $135.00 in a report published on Friday morning, Benzinga reports. They currently have an in-line rating on the technology company’s stock.

Other research analysts have also issued research reports about the company. Morgan Stanley boosted their price objective on GoDaddy from $132.00 to $137.00 and gave the stock an equal weight rating in a report on Friday. Barclays boosted their price target on shares of GoDaddy from $130.00 to $150.00 and gave the stock an overweight rating in a research note on Friday. Royal Bank of Canada raised their price objective on shares of GoDaddy from $124.00 to $145.00 and gave the company an outperform rating in a research report on Friday. JPMorgan Chase & Co. upped their target price on shares of GoDaddy from $128.00 to $136.00 and gave the stock an overweight rating in a research report on Tuesday, April 2nd. Finally, UBS Group increased their price objective on GoDaddy from $110.00 to $118.00 and gave the company a neutral rating in a research note on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, GoDaddy currently has a consensus rating of Moderate Buy and a consensus target price of $142.73.

GoDaddy Stock Up 3.8 %

GoDaddy stock opened at $128.34 on Friday. The firm has a 50 day simple moving average of $120.27 and a 200 day simple moving average of $107.24. The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 9.15. GoDaddy has a 1-year low of $68.98 and a 1-year high of $128.60. The firm has a market capitalization of $18.29 billion, a price-to-earnings ratio of 10.66 and a beta of 1.09.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. On average, analysts predict that GoDaddy will post 4.93 earnings per share for the current year.

Insider Activity

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 59,608 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $6,589,068.32. Following the sale, the chief executive officer now directly owns 394,423 shares of the company’s stock, valued at $43,599,518.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other GoDaddy news, CEO Amanpal Singh Bhutani sold 59,608 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $6,589,068.32. Following the transaction, the chief executive officer now owns 394,423 shares in the company, valued at $43,599,518.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 28,392 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $3,138,451.68. Following the completion of the transaction, the chief financial officer now directly owns 120,952 shares in the company, valued at approximately $13,370,034.08. The disclosure for this sale can be found here. Insiders have sold a total of 125,234 shares of company stock worth $14,025,346 over the last quarter. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Large investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its holdings in shares of GoDaddy by 9.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company’s stock valued at $473,713,000 after acquiring an additional 561,614 shares during the last quarter. Norges Bank acquired a new position in shares of GoDaddy during the 4th quarter worth about $181,687,000. Jacobs Levy Equity Management Inc. lifted its position in shares of GoDaddy by 71.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock valued at $123,963,000 after acquiring an additional 695,897 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of GoDaddy by 88.7% in the third quarter. Bank of New York Mellon Corp now owns 1,435,153 shares of the technology company’s stock worth $106,890,000 after acquiring an additional 674,719 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of GoDaddy by 36.8% during the third quarter. Northern Trust Corp now owns 1,395,619 shares of the technology company’s stock worth $103,946,000 after purchasing an additional 375,568 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

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.