GoDaddy (NYSE:GDDY) Stock Price Expected to Rise, Morgan Stanley Analyst Says

GoDaddy (NYSE:GDDY) had its price objective raised by Morgan Stanley from $189.00 to $227.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price target would indicate a potential upside of 18.21% from the stock’s previous close.

Other analysts have also issued research reports about the stock. B. Riley lifted their price objective on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. JPMorgan Chase & Co. lifted their price objective on shares of GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Citigroup lifted their price target on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and a consensus target price of $194.14.

GoDaddy Trading Down 0.4 %

Shares of GoDaddy stock traded down $0.83 during mid-day trading on Monday, hitting $192.03. 270,163 shares of the stock were exchanged, compared to its average volume of 837,611. GoDaddy has a twelve month low of $103.64 and a twelve month high of $211.11. The stock has a market capitalization of $26.96 billion, a price-to-earnings ratio of 14.84 and a beta of 1.15. The company has a 50-day simple moving average of $196.26 and a 200 day simple moving average of $169.39. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating 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 firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm posted $0.89 earnings per share. GoDaddy’s revenue for the quarter was up 7.3% compared to the same quarter last year. Research analysts forecast that GoDaddy will post 4.96 EPS for the current year.

Insider Buying and Selling

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value of $597,030.00. Following the sale, the chief executive officer now owns 333,153 shares in the company, valued at approximately $66,300,778.53. The trade was a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total transaction of $164,160.00. Following the transaction, the chief operating officer now owns 186,632 shares in the company, valued at approximately $30,637,509.12. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,003 shares of company stock valued at $4,626,523. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in GoDaddy by 0.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock valued at $2,837,000 after purchasing an additional 67 shares during the period. Prime Capital Investment Advisors LLC increased its stake in shares of GoDaddy by 4.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock valued at $296,000 after acquiring an additional 73 shares during the last quarter. Lindbrook Capital LLC increased its stake in shares of GoDaddy by 11.3% in the 3rd quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock valued at $153,000 after acquiring an additional 99 shares during the last quarter. Equitable Trust Co. increased its stake in shares of GoDaddy by 1.3% in the 3rd quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock valued at $1,322,000 after acquiring an additional 107 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of GoDaddy by 22.4% in the 3rd quarter. Covestor Ltd now owns 590 shares of the technology company’s stock valued at $93,000 after acquiring an additional 108 shares during the last quarter. 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.