Brokerages Set GoDaddy Inc. (NYSE:GDDY) Price Target at $181.57

GoDaddy Inc. (NYSE:GDDY - Get Free Report) has been given a consensus rating of "Moderate Buy" by the fifteen brokerages that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $181.57.

A number of brokerages recently issued reports on GDDY. Royal Bank of Canada restated an "outperform" rating and issued a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Benchmark lifted their target price on GoDaddy from $186.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Jefferies Financial Group upped their target price on GoDaddy from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. B. Riley raised their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $170.00 price objective on shares of GoDaddy in a report on Monday, October 7th.

GoDaddy Stock Up 1.7 %

GoDaddy stock traded up $3.49 during midday trading on Wednesday, reaching $208.34. The company's stock had a trading volume of 1,252,252 shares, compared to its average volume of 1,465,520. GoDaddy has a 52-week low of $99.90 and a 52-week high of $210.30. The stock has a market capitalization of $29.25 billion, a P/E ratio of 16.03 and a beta of 1.15. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The stock's 50-day simple moving average is $177.46 and its 200-day simple moving average is $159.13.

GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same period last year, the business earned $0.89 EPS. GoDaddy's revenue for the quarter was up 7.3% on a year-over-year basis. On average, sell-side analysts expect that GoDaddy will post 4.95 EPS for the current year.

Insider Activity

In other news, Director Brian Sharples sold 500 shares of the business's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $197.77, for a total transaction of $98,885.00. Following the transaction, the director now owns 23,621 shares of the company's stock, valued at approximately $4,671,525.17. The trade was a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the company's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total transaction of $855,800.00. Following the completion of the sale, the chief financial officer now directly owns 93,102 shares of the company's stock, valued at $14,486,671.20. This represents a 5.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,949 shares of company stock worth $3,785,993 over the last three months. 0.61% of the stock is currently owned by corporate insiders.

Institutional Trading of GoDaddy

Several hedge funds have recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in GoDaddy in the third quarter valued at $27,000. ORG Wealth Partners LLC purchased a new stake in GoDaddy during the third quarter worth about $30,000. Transcendent Capital Group LLC acquired a new stake in shares of GoDaddy during the second quarter worth about $28,000. Anchor Investment Management LLC purchased a new position in GoDaddy in the 3rd quarter valued at approximately $31,000. Finally, ORG Partners LLC acquired a new stake in shares of GoDaddy in the second quarter valued at $32,000. Hedge funds and other institutional investors own 90.28% of the company's stock.

About GoDaddy

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.