GoDaddy (NYSE:GDDY) Price Target Raised to $135.00

GoDaddy (NYSE:GDDY) had its target price boosted by Citigroup from $105.00 to $135.00 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other analysts have also recently issued reports about the company. Cantor Fitzgerald upped their price target on GoDaddy from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Monday, October 19th. Robert W. Baird boosted their price objective on shares of GoDaddy from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, September 25th. Deutsche Bank Aktiengesellschaft downgraded shares of GoDaddy to a “buy” rating in a research note on Friday, July 31st. Wells Fargo & Company lowered shares of GoDaddy from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $80.00 to $76.00 in a report on Wednesday, August 26th. Finally, B. Riley Financial cut their target price on shares of GoDaddy from $190.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Nine equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $113.62.

GoDaddy Stock Performance

NYSE GDDY opened at $118.65 on Monday. GoDaddy has a 1-year low of $71.59 and a 1-year high of $135.71. The company has a 50 day moving average of $102.46 and a 200-day moving average of $92.26. The company has a current ratio of 0.61, a quick ratio of 0.63 and a debt-to-equity ratio of 561.10. The firm has a market cap of $15.03 billion, a price-to-earnings ratio of 16.23 and a beta of 0.94.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, October 29th. The technology company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.90 by $0.18. GoDaddy had a return on equity of 1,200.87% and a net margin of 18.56%. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the business earned $1.51 EPS. GoDaddy’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts forecast that GoDaddy will post 7.48 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, Director Leah Sweet sold 325 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $97.44, for a total transaction of $31,668.00. Following the sale, the director directly owned 13,689 shares in the company, valued at approximately $1,333,856.16. This trade represents a 2.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Phontip Palitwanon sold 530 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $101.19, for a total transaction of $53,630.70. Following the sale, the chief accounting officer owned 17,204 shares in the company, valued at $1,740,872.76. This trade represents a 2.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 31,358 shares of company stock worth $3,187,756 in the last quarter. Company insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

A number of hedge funds and other institutional investors have recently made changes to their positions in GDDY. Lido Advisors LLC bought a new stake in GoDaddy during the 3rd quarter worth $847,000. Keybank National Association OH bought a new position in GoDaddy in the third quarter valued at about $312,000. New York Life Investment Management LLC raised its position in GoDaddy by 2.5% in the third quarter. New York Life Investment Management LLC now owns 34,442 shares of the technology company’s stock valued at $3,290,000 after purchasing an additional 853 shares during the last quarter. AlphaCore Capital LLC boosted its stake in shares of GoDaddy by 143.9% during the third quarter. AlphaCore Capital LLC now owns 6,203 shares of the technology company’s stock valued at $592,000 after purchasing an additional 3,660 shares in the last quarter. Finally, Fulcrum Asset Management LLP boosted its stake in shares of GoDaddy by 962.3% during the third quarter. Fulcrum Asset Management LLP now owns 14,256 shares of the technology company’s stock valued at $1,341,000 after purchasing an additional 12,914 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Company Profile

GoDaddy Inc (NYSE: GDDY) is a global technology company that provides online tools and services to entrepreneurs, small businesses and individuals. Its platform helps customers establish, manage and grow an online presence, with offerings that include domain-name registration, website hosting, website and online-store builders, professional email and digital marketing tools.

The company also provides services designed to support commerce and customer engagement, including e-commerce functionality, online appointment scheduling, payments and other business-management capabilities.