Barclays Increases GoDaddy (NYSE:GDDY) Price Target to $243.00

GoDaddy (NYSE:GDDY - Get Free Report) had its target price lifted by research analysts at Barclays from $235.00 to $243.00 in a research report issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the technology company's stock. Barclays's target price would indicate a potential upside of 34.31% from the stock's previous close.

Several other research firms have also recently weighed in on GDDY. Citigroup increased 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. Royal Bank of Canada reaffirmed an "outperform" rating and set a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. B. Riley increased their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. raised their price objective on shares of GoDaddy from $224.00 to $231.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company assumed coverage on GoDaddy in a report on Monday, February 3rd. They set an "equal weight" rating and a $198.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $213.20.

GoDaddy Trading Down 0.7 %

Shares of NYSE:GDDY traded down $1.26 on Friday, reaching $180.93. 2,379,623 shares of the company traded hands, compared to its average volume of 1,296,690. GoDaddy has a 52 week low of $108.02 and a 52 week high of $216.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The business's 50-day simple moving average is $203.78 and its 200 day simple moving average is $180.59. The stock has a market capitalization of $25.40 billion, a P/E ratio of 13.98 and a beta of 1.15.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing analysts' consensus estimates of $1.43 by ($0.01). GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.18 billion. As a group, equities analysts anticipate that GoDaddy will post 4.96 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Mark Mccaffrey sold 2,678 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total transaction of $526,601.92. Following the sale, the chief financial officer now directly owns 89,800 shares of the company's stock, valued at $17,658,272. This trade represents a 2.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 342,956 shares of the company's stock, valued at approximately $67,826,408.12. This trade represents a 0.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,482 shares of company stock valued at $4,709,650. Insiders own 0.61% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GDDY. Quent Capital LLC lifted its holdings in shares of GoDaddy by 4.4% during the 4th quarter. Quent Capital LLC now owns 1,259 shares of the technology company's stock valued at $248,000 after buying an additional 53 shares during the period. Advisors Capital Management LLC increased its position in GoDaddy by 0.9% during the fourth quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company's stock valued at $1,223,000 after acquiring an additional 55 shares during the last quarter. BNP Paribas lifted its holdings in GoDaddy by 2.9% in the fourth quarter. BNP Paribas now owns 2,111 shares of the technology company's stock valued at $417,000 after acquiring an additional 59 shares during the period. Lake Street Advisors Group LLC boosted its position in GoDaddy by 4.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company's stock worth $283,000 after purchasing an additional 64 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of GoDaddy by 0.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company's stock valued at $2,837,000 after purchasing an additional 67 shares during the last quarter. 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.