GoDaddy (NYSE:GDDY) Given New $230.00 Price Target at Raymond James

GoDaddy (NYSE:GDDY - Free Report) had its target price boosted by Raymond James from $185.00 to $230.00 in a research note published on Tuesday,Benzinga reports. Raymond James currently has a strong-buy rating on the technology company's stock.

Several other equities analysts also recently weighed in on the company. 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. B. Riley increased their price objective on shares of GoDaddy from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Citigroup boosted their target price on shares of GoDaddy from $240.00 to $251.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Barclays upped their price target on shares of GoDaddy from $165.00 to $185.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 25th. Finally, StockNews.com lowered shares of GoDaddy from a "strong-buy" rating to a "buy" rating in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, GoDaddy has a consensus rating of "Moderate Buy" and an average price target of $198.07.

GoDaddy Trading Up 2.4 %

Shares of NYSE GDDY traded up $4.75 during midday trading on Tuesday, reaching $205.66. 1,116,248 shares of the stock were exchanged, compared to its average volume of 1,108,411. The stock has a 50 day moving average price of $199.16 and a 200-day moving average price of $171.78. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The company has a market capitalization of $28.87 billion, a P/E ratio of 15.89 and a beta of 1.15. GoDaddy has a 52-week low of $106.42 and a 52-week high of $211.11.

GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the previous year, the company earned $0.89 EPS. GoDaddy's revenue for the quarter was up 7.3% on a year-over-year basis. Equities research analysts expect that GoDaddy will post 4.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Phontip Palitwanon sold 770 shares of the firm'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 $151,412.80. Following the completion of the sale, the chief accounting officer now directly owns 23,059 shares of the company's stock, valued at approximately $4,534,321.76. This trade represents a 3.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Mccaffrey sold 480 shares of GoDaddy stock in a transaction on Monday, January 6th. The stock was sold at an average price of $201.29, for a total transaction of $96,619.20. Following the sale, the chief financial officer now directly owns 83,254 shares in the company, valued at $16,758,197.66. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,483 shares of company stock worth $4,759,553 over the last quarter. 0.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new position in shares of GoDaddy in the 3rd quarter worth approximately $27,000. ORG Wealth Partners LLC acquired a new position in GoDaddy in the third quarter worth $30,000. Anchor Investment Management LLC bought a new stake in GoDaddy during the third quarter valued at $31,000. Versant Capital Management Inc acquired a new stake in shares of GoDaddy during the fourth quarter worth $43,000. Finally, Huntington National Bank lifted its position in shares of GoDaddy by 298.7% in the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company's stock worth $48,000 after buying an additional 230 shares during the last quarter. Hedge funds and other institutional investors 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.