GoDaddy (NYSE:GDDY) Stock Price Expected to Rise, B. Riley Analyst Says

GoDaddy (NYSE:GDDY - Free Report) had its target price increased by B. Riley from $220.00 to $225.00 in a research note released on Friday morning,Benzinga reports. They currently have a buy rating on the technology company's stock.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $230.00 price objective (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Morgan Stanley increased their target price on GoDaddy from $227.00 to $228.00 and gave the company an "equal weight" rating in a report on Friday. Citigroup lifted their price target on GoDaddy from $240.00 to $251.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Robert W. Baird increased their price objective on GoDaddy from $200.00 to $225.00 and gave the company an "outperform" rating in a research note on Tuesday, November 19th. Finally, Piper Sandler lifted their target price on shares of GoDaddy from $176.00 to $177.00 and gave the stock a "neutral" rating in a research note on Friday. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $213.20.

GoDaddy Price Performance

Shares of NYSE GDDY traded down $1.26 during trading hours on Friday, reaching $180.93. 2,379,623 shares of the stock traded hands, compared to its average volume of 1,296,690. The company's 50-day simple moving average is $203.78 and its two-hundred day simple moving average is $180.59. The company has a market capitalization of $25.40 billion, a P/E ratio of 13.98 and a beta of 1.15. GoDaddy has a 52-week low of $108.02 and a 52-week high of $216.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 EPS 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%. The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.18 billion. Equities research analysts forecast that GoDaddy will post 4.96 EPS for the current year.

Insider Activity at GoDaddy

In other news, CFO Mark Mccaffrey sold 480 shares of the business's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $201.29, for a total value of $96,619.20. Following the sale, the chief financial officer now directly owns 83,254 shares of the company's stock, valued at $16,758,197.66. The trade was a 0.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction, the chief operating officer now directly owns 184,632 shares of the company's stock, valued at approximately $38,283,445.20. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,482 shares of company stock worth $4,709,650 over the last ninety days. 0.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GoDaddy

Several hedge funds have recently added to or reduced their stakes in GDDY. State Street Corp boosted its stake in GoDaddy by 2.2% in the 3rd quarter. State Street Corp now owns 6,892,134 shares of the technology company's stock worth $1,080,549,000 after purchasing an additional 147,105 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of GoDaddy by 11.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company's stock worth $751,778,000 after buying an additional 395,160 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of GoDaddy by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company's stock worth $692,245,000 after buying an additional 90,810 shares in the last quarter. WCM Investment Management LLC grew its holdings in shares of GoDaddy by 7,083.4% during the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock valued at $678,941,000 after buying an additional 3,356,678 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of GoDaddy by 11.6% during the fourth quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company's stock valued at $575,122,000 after acquiring an additional 304,033 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

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.