GoDaddy (NYSE:GDDY) Trading 0.6% Higher on Analyst Upgrade

Shares of GoDaddy Inc. (NYSE:GDDY - Get Free Report) rose 0.6% during trading on Wednesday after Robert W. Baird raised their price target on the stock from $200.00 to $225.00. Robert W. Baird currently has an outperform rating on the stock. GoDaddy traded as high as $189.86 and last traded at $188.50. Approximately 285,973 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 1,455,477 shares. The stock had previously closed at $187.40.

Other equities analysts have also issued reports about the company. Raymond James boosted their target price on GoDaddy from $150.00 to $175.00 and gave the stock a "strong-buy" rating in a research report on Friday, August 2nd. Barclays increased their price target on GoDaddy from $165.00 to $185.00 and gave the company an "overweight" rating in a research report on Wednesday, September 25th. Cantor Fitzgerald reiterated a "neutral" rating and set a $170.00 target price on shares of GoDaddy in a research note on Monday, October 7th. Benchmark boosted their price objective on GoDaddy from $186.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Finally, StockNews.com cut shares of GoDaddy from a "strong-buy" rating to a "buy" rating in a report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, GoDaddy currently has a consensus rating of "Moderate Buy" and an average target price of $173.31.

Insider Buying and Selling at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the firm's 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 completion of the transaction, the chief operating officer now owns 187,632 shares in the company, valued at $28,551,961.44. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Nick Daddario sold 684 shares of the firm's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total transaction of $107,545.32. Following the completion of the transaction, the chief accounting officer now directly owns 17,704 shares of the company's stock, valued at approximately $2,783,599.92. This trade represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,845 shares of company stock worth $4,803,380 in the last three months. 0.61% of the stock is currently owned by company insiders.

Institutional Trading of GoDaddy

A number of large investors have recently modified their holdings of GDDY. Price T Rowe Associates Inc. MD raised its stake in GoDaddy by 94.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company's stock worth $433,895,000 after acquiring an additional 1,775,708 shares during the last quarter. Kodai Capital Management LP acquired a new stake in GoDaddy in the 1st quarter valued at about $75,855,000. Federated Hermes Inc. raised its holdings in shares of GoDaddy by 35.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company's stock worth $209,743,000 after acquiring an additional 394,399 shares during the period. Wedge Capital Management L L P NC raised its position in GoDaddy by 2,279.5% in the third quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company's stock valued at $62,908,000 after purchasing an additional 384,386 shares during the period. Finally, Mizuho Securities USA LLC increased its position in shares of GoDaddy by 3,227.3% during the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company's stock valued at $56,709,000 after acquiring an additional 350,839 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

GoDaddy Trading Up 1.4 %

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 stock has a market cap of $26.69 billion, a price-to-earnings ratio of 14.57 and a beta of 1.11. The company has a 50 day moving average of $164.16 and a 200-day moving average of $152.29.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $1.14 billion. During the same quarter last year, the business posted $0.89 EPS. The business's quarterly revenue was up 7.3% compared to the same quarter last year. On average, research analysts anticipate that GoDaddy Inc. will post 4.95 earnings per share for the current year.

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.