GoDaddy (NYSE:GDDY) Stock Price Expected to Rise, Morgan Stanley Analyst Says

GoDaddy (NYSE:GDDY - Get Free Report) had its price objective increased by stock analysts at Morgan Stanley from $189.00 to $227.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the technology company's stock. Morgan Stanley's target price suggests a potential upside of 17.34% from the stock's current price.

Several other brokerages have also weighed in on GDDY. Royal Bank of Canada reiterated an "outperform" rating and set a $230.00 target price (up from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Benchmark lifted their price objective on GoDaddy from $186.00 to $200.00 and gave the company a "buy" 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 report on Wednesday, December 4th. StockNews.com lowered GoDaddy from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 8th. Finally, Jefferies Financial Group upped their price target on GoDaddy from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $194.14.

GoDaddy Stock Performance

GoDaddy stock traded up $0.60 during trading hours on Monday, hitting $193.46. The stock had a trading volume of 1,186,540 shares, compared to its average volume of 970,552. GoDaddy has a fifty-two week low of $103.64 and a fifty-two week high of $211.11. The company has a market cap of $27.16 billion, a PE ratio of 14.95 and a beta of 1.15. The company has a 50-day moving average of $196.26 and a two-hundred day moving average of $169.39. 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 issued its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating analysts' consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the company posted $0.89 earnings per share. GoDaddy's revenue was up 7.3% on a year-over-year basis. On average, equities research analysts anticipate that GoDaddy will post 4.96 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In related news, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $1,094,555.00. Following the completion of the sale, the chief financial officer now directly owns 84,300 shares in the company, valued at $16,776,543. This trade represents a 6.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Phontip Palitwanon sold 770 shares of the company's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total transaction of $151,412.80. Following the transaction, the chief accounting officer now owns 23,059 shares in the company, valued at approximately $4,534,321.76. The trade was a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,003 shares of company stock worth $4,626,523. 0.61% of the stock is currently owned by corporate insiders.

Institutional Trading of GoDaddy

A number of institutional investors have recently bought and sold shares of GDDY. Friedenthal Financial bought a new stake in shares of GoDaddy in the 4th quarter valued at about $49,000. Fiduciary Alliance LLC acquired a new position in GoDaddy during the fourth quarter valued at approximately $1,045,000. Czech National Bank increased its stake in GoDaddy by 6.1% in the fourth quarter. Czech National Bank now owns 30,440 shares of the technology company's stock valued at $6,008,000 after purchasing an additional 1,739 shares in the last quarter. First Hawaiian Bank increased its stake in GoDaddy by 99.6% in the fourth quarter. First Hawaiian Bank now owns 13,885 shares of the technology company's stock valued at $2,740,000 after purchasing an additional 6,929 shares in the last quarter. Finally, Range Financial Group LLC raised its holdings in GoDaddy by 71.0% in the fourth quarter. Range Financial Group LLC now owns 2,214 shares of the technology company's stock worth $437,000 after purchasing an additional 919 shares during the period. 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.