Robert W. Baird Issues Positive Forecast for GoDaddy (NYSE:GDDY) Stock Price

GoDaddy (NYSE:GDDY - Get Free Report) had its price target raised by equities researchers at Robert W. Baird from $200.00 to $225.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the technology company's stock. Robert W. Baird's price target suggests a potential upside of 19.96% from the company's previous close.

Several other equities research analysts have also commented on the stock. StockNews.com lowered shares of GoDaddy from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 8th. Piper Sandler raised their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. B. Riley upped their target price on GoDaddy from $170.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Benchmark raised their price target on GoDaddy from $186.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $170.00 price objective on shares of GoDaddy in a research report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $173.31.

GoDaddy Price Performance

GDDY stock traded up $2.55 on Tuesday, reaching $187.57. 667,980 shares of the company's stock were exchanged, compared to its average volume of 1,458,211. GoDaddy has a twelve month low of $91.86 and a twelve month high of $190.21. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The stock has a fifty day moving average of $163.41 and a 200-day moving average of $151.84. The firm has a market cap of $26.33 billion, a PE ratio of 14.49 and a beta of 1.11.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.89 earnings per share. As a group, equities analysts predict that GoDaddy will post 4.95 EPS for the current fiscal year.

Insider Transactions at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $152.17, for a total transaction of $152,170.00. Following the sale, the chief operating officer now directly owns 187,632 shares of the company's stock, valued at approximately $28,551,961.44. The trade was a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total value of $906,125.00. Following the sale, the chief financial officer now owns 101,286 shares of the company's stock, valued at approximately $16,686,868.50. This trade represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,844 shares of company stock worth $4,619,397. 0.61% of the stock is currently owned by company insiders.

Institutional Trading of GoDaddy

Several institutional investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of GoDaddy by 0.4% in 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 in the last quarter. Prime Capital Investment Advisors LLC lifted its holdings in GoDaddy by 4.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company's stock worth $296,000 after buying an additional 73 shares during the last quarter. Whittier Trust Co. grew its position in shares of GoDaddy by 4.3% in the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company's stock worth $249,000 after acquiring an additional 74 shares in the last quarter. Lindbrook Capital LLC grew its position in shares of GoDaddy by 11.3% in the 3rd quarter. Lindbrook Capital LLC now owns 974 shares of the technology company's stock worth $153,000 after acquiring an additional 99 shares in the last quarter. Finally, Equitable Trust Co. increased its holdings in shares of GoDaddy by 1.3% in the 3rd quarter. Equitable Trust Co. now owns 8,435 shares of the technology company's stock valued at $1,322,000 after acquiring an additional 107 shares during the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

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.