Barclays Raises GoDaddy (NYSE:GDDY) Price Target to $150.00

GoDaddy (NYSE:GDDY) had its target price upped by Barclays from $130.00 to $150.00 in a report released on Friday, Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

Several other research analysts have also recently issued reports on the stock. Benchmark reiterated a buy rating and issued a $150.00 price objective on shares of GoDaddy in a report on Wednesday, May 1st. B. Riley upped their price objective on GoDaddy from $124.00 to $142.00 and gave the company a buy rating in a report on Thursday, March 7th. UBS Group lifted their target price on GoDaddy from $110.00 to $118.00 and gave the stock a neutral rating in a report on Wednesday, February 14th. Royal Bank of Canada restated an outperform rating and set a $124.00 price objective on shares of GoDaddy in a research report on Thursday, March 7th. Finally, Robert W. Baird increased their target price on shares of GoDaddy from $130.00 to $150.00 and gave the company an outperform rating in a research note on Monday, March 25th. Four investment 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, the company has a consensus rating of Moderate Buy and a consensus price target of $142.73.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $128.34 on Friday. 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 PE ratio of 10.66 and a beta of 1.09. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.47. The business’s fifty day moving average price is $120.27 and its two-hundred day moving average price is $107.24.

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

Insider Buying and Selling at GoDaddy

In related news, CAO Nick Daddario sold 1,823 shares of GoDaddy stock in a transaction on Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $201,514.42. Following the completion of the sale, the chief accounting officer now owns 25,263 shares of the company’s stock, valued at $2,792,572.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other GoDaddy news, COO Roger Chen sold 4,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $114.11, for a total transaction of $456,440.00. Following the transaction, the chief operating officer now directly owns 208,632 shares of the company’s stock, valued at $23,806,997.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Nick Daddario sold 1,823 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $201,514.42. Following the completion of the sale, the chief accounting officer now directly owns 25,263 shares of the company’s stock, valued at approximately $2,792,572.02. The disclosure for this sale can be found here. Insiders sold 125,234 shares of company stock valued at $14,025,346 in the last quarter. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GDDY. V Square Quantitative Management LLC acquired a new position in GoDaddy during the 4th quarter worth $28,000. GAMMA Investing LLC boosted its stake in GoDaddy by 102.3% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after purchasing an additional 133 shares during the period. Frazier Financial Advisors LLC bought a new position in GoDaddy in the 4th quarter worth approximately $33,000. Massmutual Trust Co. FSB ADV boosted its position in shares of GoDaddy by 140.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock valued at $37,000 after acquiring an additional 205 shares during the period. Finally, Fifth Third Bancorp acquired a new stake in shares of GoDaddy in the third quarter worth $43,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

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.