Morgan Stanley Increases GoDaddy (NYSE:GDDY) Price Target to $228.00

GoDaddy (NYSE:GDDY) had its price target lifted by investment analysts at Morgan Stanley from $227.00 to $228.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price target would indicate a potential upside of 17.12% from the stock’s previous close.

GDDY has been the topic of several other reports. Robert W. Baird increased their price target on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Piper Sandler increased their price target on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a report on Friday. JPMorgan Chase & Co. raised their price objective on GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Citigroup raised their price objective on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Raymond James raised their price objective on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $200.67.

GoDaddy Trading Down 8.4 %

Shares of NYSE GDDY opened at $194.68 on Friday. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The business’s 50 day moving average price is $204.59 and its 200-day moving average price is $179.30. GoDaddy has a fifty-two week low of $108.02 and a fifty-two week high of $216.00. The company has a market cap of $27.33 billion, a price-to-earnings ratio of 15.04 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. On average, sell-side analysts expect that GoDaddy will post 4.96 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In other news, CAO Phontip Palitwanon sold 770 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total value of $151,412.80. Following the completion of the sale, the chief accounting officer now owns 23,059 shares of the company’s stock, valued at $4,534,321.76. This trade represents a 3.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $197.77, for a total value of $593,310.00. Following the completion of the sale, the chief executive officer now directly owns 342,956 shares of the company’s stock, valued at $67,826,408.12. The trade was a 0.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,482 shares of company stock valued at $4,709,650. 0.61% of the stock is currently owned by corporate insiders.

Institutional Trading of GoDaddy

A number of institutional investors have recently made changes to their positions in GDDY. State Street Corp lifted its position in GoDaddy by 2.2% during the 3rd quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock worth $1,080,549,000 after acquiring an additional 147,105 shares during the period. Geode Capital Management LLC lifted its position in GoDaddy by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company’s stock worth $692,245,000 after acquiring an additional 90,810 shares during the period. WCM Investment Management LLC lifted its position in GoDaddy by 7,083.4% during the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock worth $678,941,000 after acquiring an additional 3,356,678 shares during the period. Invesco Ltd. lifted its position in GoDaddy by 11.6% during the 4th quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company’s stock worth $575,122,000 after acquiring an additional 304,033 shares during the period. Finally, Norges Bank acquired a new stake in GoDaddy during the 4th quarter worth about $356,038,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

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.