Brokerages Set GoDaddy Inc. (NYSE:GDDY) Price Target at $198.07

GoDaddy Inc. (NYSE:GDDY - Get Free Report) has received an average rating of "Moderate Buy" from the fifteen brokerages that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $198.07.

Several brokerages have recently weighed in on GDDY. Piper Sandler increased their price target on GoDaddy from $172.00 to $176.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on GoDaddy from $175.00 to $224.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Cantor Fitzgerald reissued a "neutral" rating and set a $170.00 target price on shares of GoDaddy in a research note on Monday, October 7th. Morgan Stanley upped their price target on shares of GoDaddy from $189.00 to $227.00 and gave the stock an "equal weight" rating in a report on Monday, January 13th. Finally, Robert W. Baird lifted their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the company an "outperform" rating in a report on Tuesday, November 19th.

GoDaddy Trading Down 0.3 %

Shares of GDDY traded down $0.59 during midday trading on Thursday, hitting $213.32. The stock had a trading volume of 1,493,170 shares, compared to its average volume of 1,111,762. The stock's 50 day moving average is $202.16 and its 200 day moving average is $174.74. The firm has a market cap of $29.95 billion, a PE ratio of 16.49 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. GoDaddy has a 1 year low of $106.42 and a 1 year high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share 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 for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the company posted $0.89 EPS. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, analysts forecast that GoDaddy will post 4.96 EPS for the current fiscal year.

Insider Buying and Selling

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $207.35, for a total value of $207,350.00. Following the completion of the sale, the chief operating officer now directly owns 184,632 shares in the company, valued at $38,283,445.20. This trade represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Phontip Palitwanon sold 770 shares of GoDaddy stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total transaction of $151,412.80. Following the completion of the transaction, the chief accounting officer now directly owns 23,059 shares in the company, valued at $4,534,321.76. This represents a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,483 shares of company stock valued at $4,759,553 over the last 90 days. Corporate insiders own 0.61% of the company's stock.

Institutional Trading of GoDaddy

Institutional investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new position in GoDaddy during the 3rd quarter valued at approximately $27,000. ORG Wealth Partners LLC purchased a new stake in shares of GoDaddy during the third quarter valued at $30,000. Anchor Investment Management LLC acquired a new position in shares of GoDaddy in the 3rd quarter valued at $31,000. Versant Capital Management Inc purchased a new position in GoDaddy in the 4th quarter worth $43,000. Finally, Friedenthal Financial acquired a new stake in GoDaddy during the 4th quarter worth about $49,000. 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.