Piper Sandler Forecasts Strong Price Appreciation for GoDaddy (NYSE:GDDY) Stock

GoDaddy (NYSE:GDDY - Free Report) had its price objective hoisted by Piper Sandler from $176.00 to $177.00 in a report issued on Friday,Benzinga reports. Piper Sandler currently has a neutral rating on the technology company's stock.

GDDY has been the subject of several other reports. Benchmark raised their price objective on shares of GoDaddy from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. StockNews.com downgraded shares of GoDaddy from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 8th. Raymond James raised their price objective on shares of GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, January 21st. Citigroup raised their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Finally, 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 research report on Thursday, February 6th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $213.20.

GoDaddy Stock Performance

GoDaddy stock traded down $1.26 during midday trading on Friday, reaching $180.93. 2,379,623 shares of the company's stock were exchanged, 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 debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $25.40 billion, a price-to-earnings ratio of 13.98 and a beta of 1.15. The stock's 50-day simple moving average is $203.78 and its 200 day simple moving average is $180.59.

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 analysts' consensus estimates of $1.43 by ($0.01). The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. On average, analysts expect that GoDaddy will post 4.96 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 2,678 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total transaction of $526,601.92. Following the sale, the chief financial officer now owns 89,800 shares of the company's stock, valued at approximately $17,658,272. The trade was a 2.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Phontip Palitwanon sold 770 shares of the business's 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 sale, the chief accounting officer now directly owns 23,059 shares in the company, valued at approximately $4,534,321.76. The trade was a 3.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,482 shares of company stock worth $4,709,650 over the last three months. Corporate insiders own 0.61% of the company's stock.

Institutional Trading of GoDaddy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. grew its stake in shares of GoDaddy by 3.4% during the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company's stock worth $31,052,000 after buying an additional 6,424 shares during the last quarter. Highland Capital Management LLC bought a new stake in shares of GoDaddy during the third quarter worth $1,132,000. CWA Asset Management Group LLC grew its stake in shares of GoDaddy by 29.2% during the fourth quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company's stock worth $3,172,000 after buying an additional 3,631 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of GoDaddy by 28.0% during the third quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company's stock worth $6,907,000 after buying an additional 9,631 shares during the last quarter. Finally, Dai ichi Life Insurance Company Ltd grew its stake in shares of GoDaddy by 39.6% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company's stock worth $9,410,000 after purchasing an additional 17,021 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.