Analysts Set GoDaddy Inc. (NYSE:GDDY) Target Price at $125.57

GoDaddy Inc. (NYSE:GDDY) has earned a consensus rating of “Moderate Buy” from the fifteen analysts that are currently covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $125.5714.

A number of equities research analysts have weighed in on the company. Barclays decreased their target price on GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $100.00 price objective on shares of GoDaddy in a research note on Wednesday, February 25th. UBS Group dropped their target price on shares of GoDaddy from $145.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Benchmark cut their target price on shares of GoDaddy from $240.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Finally, Piper Sandler began coverage on shares of GoDaddy in a report on Thursday, March 12th. They issued a “neutral” rating and a $93.00 price target for the company.

Insider Buying and Selling at GoDaddy

In related news, Director Leah Sweet sold 650 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $86.86, for a total value of $56,459.00. Following the completion of the transaction, the director owned 11,414 shares of the company’s stock, valued at $991,420.04. The trade was a 5.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Phontip Palitwanon sold 1,310 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $90.15, for a total value of $118,096.50. Following the sale, the chief accounting officer owned 20,349 shares of the company’s stock, valued at approximately $1,834,462.35. This represents a 6.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 61,918 shares of company stock valued at $5,500,469. 0.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GoDaddy

A number of hedge funds have recently made changes to their positions in the stock. Hemington Wealth Management raised its holdings in GoDaddy by 85.9% in the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after purchasing an additional 85 shares in the last quarter. Rachor Investment Advisory Services LLC bought a new stake in shares of GoDaddy in the 4th quarter valued at about $25,000. Activest Wealth Management boosted its holdings in shares of GoDaddy by 6,600.0% in the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after buying an additional 198 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of GoDaddy in the 4th quarter worth approximately $25,000. Finally, Root Financial Partners LLC purchased a new position in shares of GoDaddy in the 3rd quarter worth approximately $31,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Price Performance

GoDaddy stock opened at $81.67 on Tuesday. The stock has a market cap of $10.89 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 0.71 and a beta of 0.98. The company has a debt-to-equity ratio of 17.50, a current ratio of 0.61 and a quick ratio of 0.61. GoDaddy has a 1 year low of $73.06 and a 1 year high of $193.55. The firm has a 50-day moving average of $89.65 and a two-hundred day moving average of $114.76.

GoDaddy (NYSE:GDDY) last issued its earnings results on Tuesday, February 24th. The technology company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.22. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company posted $1.36 earnings per share. On average, research analysts forecast that GoDaddy will post 6.63 earnings per share for the current year.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.