Benchmark Raises GoDaddy (NYSE:GDDY) Price Target to $230.00

GoDaddy (NYSE:GDDY) had its price target hoisted by stock analysts at Benchmark from $200.00 to $230.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Benchmark’s price target indicates a potential upside of 25.97% from the stock’s previous close.

GDDY has been the topic of several other research reports. Citigroup increased their price target on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. B. Riley increased 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. Robert W. Baird increased their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, Wells Fargo & Company started coverage on shares of GoDaddy in a research note on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 price objective for the company. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $213.20.

GoDaddy Stock Performance

Shares of NYSE:GDDY opened at $182.58 on Thursday. The company’s 50 day moving average price is $204.20 and its two-hundred day moving average price is $179.81. GoDaddy has a 12-month low of $108.02 and a 12-month high of $216.00. The firm has a market cap of $25.63 billion, a PE ratio of 14.11 and a beta of 1.15. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. Equities research analysts predict that GoDaddy will post 4.96 earnings per share for the current year.

Insider Activity

In related news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $103,850.00. Following the completion of the transaction, the director now owns 22,621 shares of the company’s stock, valued at $4,698,381.70. This trade represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $197.77, for a total transaction of $593,310.00. Following the transaction, the chief executive officer now directly owns 342,956 shares of the company’s stock, valued at $67,826,408.12. This represents a 0.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,482 shares of company stock valued at $4,709,650. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in GoDaddy by 3.4% in the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after purchasing an additional 6,424 shares during the period. Highland Capital Management LLC acquired a new stake in GoDaddy in the third quarter worth $1,132,000. CWA Asset Management Group LLC grew its holdings in GoDaddy by 29.2% in the fourth quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock worth $3,172,000 after purchasing an additional 3,631 shares during the period. Crossmark Global Holdings Inc. grew its holdings in GoDaddy by 28.0% in the third quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock worth $6,907,000 after purchasing an additional 9,631 shares during the period. Finally, Dai ichi Life Insurance Company Ltd grew its holdings in GoDaddy by 39.6% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock worth $9,410,000 after purchasing an additional 17,021 shares during the period. Institutional investors 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.