GoDaddy (NYSE:GDDY) Price Target Raised to $228.00

GoDaddy (NYSE:GDDY - Free Report) had its price target raised by Morgan Stanley from $227.00 to $228.00 in a research note published on Friday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the technology company's stock.

A number of other research firms have also issued reports on GDDY. Royal Bank of Canada reissued an "outperform" rating and set a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Robert W. Baird raised their price target on GoDaddy from $200.00 to $225.00 and gave the stock an "outperform" rating in a report on Tuesday, November 19th. Jefferies Financial Group raised their price target on GoDaddy from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Citigroup raised their price target on GoDaddy from $240.00 to $251.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Finally, Raymond James raised their price target on GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 21st. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $213.20.

GoDaddy Stock Performance

Shares of GDDY stock traded down $1.26 during mid-day trading on Friday, hitting $180.93. 2,379,623 shares of the stock were exchanged, compared to its average volume of 1,296,690. The stock's fifty day simple moving average is $203.78 and its two-hundred day simple moving average is $180.59. The stock has a market capitalization of $25.40 billion, a price-to-earnings ratio of 13.98 and a beta of 1.15. GoDaddy has a 12-month low of $108.02 and a 12-month 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.

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

Insider Activity

In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $207.35, for a total transaction of $207,350.00. Following the completion of the sale, the chief operating officer now directly owns 184,632 shares in the company, valued at approximately $38,283,445.20. This trade represents a 0.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Phontip Palitwanon sold 770 shares of GoDaddy stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total transaction of $151,412.80. Following the sale, the chief accounting officer now owns 23,059 shares of the company's stock, 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 three months, insiders sold 23,482 shares of company stock worth $4,709,650. Company insiders own 0.61% of the company's stock.

Institutional Investors Weigh In On GoDaddy

A number of hedge funds and other institutional investors have recently modified their holdings of GDDY. CWM LLC raised its position in shares of GoDaddy by 2.7% during the 3rd quarter. CWM LLC now owns 6,034 shares of the technology company's stock worth $946,000 after purchasing an additional 159 shares during the last quarter. Creative Planning raised its position in shares of GoDaddy by 41.6% during the 3rd quarter. Creative Planning now owns 14,187 shares of the technology company's stock worth $2,224,000 after purchasing an additional 4,168 shares during the last quarter. Hengehold Capital Management LLC raised its position in shares of GoDaddy by 15.4% during the 3rd quarter. Hengehold Capital Management LLC now owns 2,155 shares of the technology company's stock worth $338,000 after purchasing an additional 288 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised 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 worth $2,837,000 after purchasing an additional 67 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its position in shares of GoDaddy by 37.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 2,093 shares of the technology company's stock worth $328,000 after purchasing an additional 565 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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.