Analysts Set GoDaddy Inc. (NYSE:GDDY) Price Target at $166.21

GoDaddy Inc. (NYSE:GDDY) has been given an average recommendation of “Moderate Buy” by the fifteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $166.2143.

Several equities analysts have recently weighed in on GDDY shares. JPMorgan Chase & Co. dropped their price objective on shares of GoDaddy from $222.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Benchmark reissued a “buy” rating on shares of GoDaddy in a report on Thursday, December 4th. Evercore cut their price objective on shares of GoDaddy from $180.00 to $145.00 and set an “in-line” rating for the company in a research report on Friday, October 31st. Jefferies Financial Group decreased their target price on GoDaddy from $150.00 to $140.00 and set a “hold” rating on the stock in a research report on Monday, January 5th. Finally, Morgan Stanley lowered their target price on GoDaddy from $159.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th.

GoDaddy Stock Up 0.9%

GDDY opened at $89.04 on Monday. The stock’s fifty day simple moving average is $112.40 and its 200 day simple moving average is $129.42. GoDaddy has a 1-year low of $88.11 and a 1-year high of $195.70. The stock has a market cap of $12.03 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 0.80 and a beta of 0.94. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06.

Insiders Place Their Bets

In other news, CFO Mark Mccaffrey sold 3,317 shares of GoDaddy stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction of $424,376.98. Following the completion of the sale, the chief financial officer owned 66,816 shares of the company’s stock, valued at approximately $8,548,439.04. This trade represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Phontip Palitwanon sold 2,397 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $128.44, for a total transaction of $307,870.68. Following the completion of the transaction, the chief accounting officer owned 17,055 shares in the company, valued at $2,190,544.20. This trade represents a 12.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,615 shares of company stock worth $1,743,102 in the last 90 days. Company insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of GoDaddy by 20.9% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,344 shares of the technology company’s stock worth $17,888,000 after acquiring an additional 17,200 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in GoDaddy by 14.0% during the second quarter. Nomura Asset Management Co. Ltd. now owns 86,648 shares of the technology company’s stock worth $15,602,000 after purchasing an additional 10,631 shares during the period. GDS Wealth Management increased its holdings in GoDaddy by 16.3% in the second quarter. GDS Wealth Management now owns 59,940 shares of the technology company’s stock worth $10,793,000 after purchasing an additional 8,388 shares in the last quarter. Quantbot Technologies LP acquired a new position in GoDaddy in the second quarter valued at approximately $15,659,000. Finally, Neo Ivy Capital Management bought a new position in shares of GoDaddy during the 2nd quarter worth approximately $470,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

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.