B. Riley Raises GoDaddy (NYSE:GDDY) Price Target to $225.00

GoDaddy (NYSE:GDDY) had its price target lifted by B. Riley from $220.00 to $225.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. B. Riley’s price objective would suggest a potential upside of 23.24% from the company’s current price.

A number of other research analysts have also weighed in on the stock. 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. Benchmark raised their price target on shares of GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a report on Thursday. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 price target (up from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Finally, Piper Sandler raised their price target on shares of GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a report on Friday. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

GoDaddy Stock Down 14.1 %

GoDaddy stock opened at $182.58 on Friday. GoDaddy has a 1-year low of $108.02 and a 1-year high of $216.00. The firm has a market capitalization of $25.63 billion, a price-to-earnings ratio of 14.11 and a beta of 1.15. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The firm has a 50 day simple moving average of $204.20 and a 200 day simple moving average of $180.06.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. On average, analysts predict that GoDaddy will post 4.96 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $207.35, for a total transaction of $207,350.00. Following the completion of the transaction, the chief operating officer now directly owns 184,632 shares of the company’s stock, valued at approximately $38,283,445.20. This represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were 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 approximately $67,826,408.12. This trade represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,482 shares of company stock worth $4,709,650 over the last three months. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Several hedge funds and other institutional investors have recently modified their holdings of the company. Quent Capital LLC raised its stake in shares of GoDaddy by 4.4% during the fourth quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock valued at $248,000 after acquiring an additional 53 shares during the last quarter. Advisors Capital Management LLC raised its stake in shares of GoDaddy by 0.9% during the fourth quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company’s stock valued at $1,223,000 after acquiring an additional 55 shares during the last quarter. Lake Street Advisors Group LLC raised its stake in shares of GoDaddy by 4.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock valued at $283,000 after acquiring an additional 64 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of GoDaddy by 0.4% during the third 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 acquiring an additional 67 shares during the last quarter. Finally, New York Life Investment Management LLC raised its stake in GoDaddy by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company’s stock worth $3,708,000 after buying an additional 71 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.