GoDaddy (NYSE:GDDY) Price Target Raised to $165.00 at Barclays

GoDaddy (NYSE:GDDY) had its price target raised by Barclays from $150.00 to $165.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

GDDY has been the topic of several other research reports. Citigroup increased their target price on GoDaddy from $150.00 to $165.00 and gave the stock a buy rating in a research note on Friday, May 31st. Robert W. Baird raised their target price on GoDaddy from $150.00 to $175.00 and gave the stock an outperform rating in a research report on Friday, May 24th. Royal Bank of Canada raised their price target on GoDaddy from $124.00 to $145.00 and gave the stock an outperform rating in a research note on Friday, May 3rd. B. Riley raised their price target on GoDaddy from $143.00 to $170.00 and gave the stock a buy rating in a research note on Friday, July 12th. Finally, UBS Group raised their price target on GoDaddy from $118.00 to $130.00 and gave the stock a neutral rating in a research note on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, GoDaddy has an average rating of Moderate Buy and an average target price of $158.75.

GoDaddy Trading Up 7.0 %

Shares of NYSE GDDY traded up $9.84 during mid-day trading on Friday, reaching $151.25. 2,407,777 shares of the company’s stock were exchanged, compared to its average volume of 1,159,537. The firm has a market capitalization of $21.58 billion, a price-to-earnings ratio of 12.56 and a beta of 1.14. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.55 and a current ratio of 0.55. GoDaddy has a 52-week low of $69.18 and a 52-week high of $152.09. The company’s 50-day moving average is $141.77 and its 200-day moving average is $127.02.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.08. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. GoDaddy had a negative return on equity of 363.95% and a net margin of 41.12%. Analysts expect that GoDaddy will post 4.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 4,500 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.79, for a total value of $629,055.00. Following the sale, the chief executive officer now directly owns 365,398 shares in the company, valued at $51,078,986.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Leah Sweet sold 1,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $141.59, for a total value of $141,590.00. Following the completion of the transaction, the director now directly owns 11,317 shares in the company, valued at $1,602,374.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amanpal Singh Bhutani sold 4,500 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $139.79, for a total value of $629,055.00. Following the completion of the transaction, the chief executive officer now owns 365,398 shares of the company’s stock, valued at $51,078,986.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,071 shares of company stock worth $6,385,206. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GoDaddy

Several institutional investors have recently added to or reduced their stakes in GDDY. V Square Quantitative Management LLC acquired a new stake in GoDaddy during the fourth quarter worth about $28,000. Transcendent Capital Group LLC acquired a new stake in GoDaddy during the second quarter worth about $28,000. GAMMA Investing LLC increased its stake in GoDaddy by 102.3% during the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after acquiring an additional 133 shares during the last quarter. ORG Partners LLC acquired a new stake in GoDaddy during the second quarter worth about $32,000. Finally, Frazier Financial Advisors LLC acquired a new stake in GoDaddy during the fourth quarter worth about $33,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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.