UBS Group Issues Positive Forecast for GoDaddy (NYSE:GDDY) Stock Price

GoDaddy (NYSE:GDDY - Get Free Report) had its price objective increased by research analysts at UBS Group from $172.00 to $225.00 in a report released on Friday,Benzinga reports. The firm presently has a "neutral" rating on the technology company's stock. UBS Group's target price would suggest a potential upside of 25.34% from the company's previous close.

Several other research analysts also recently commented on GDDY. Raymond James boosted their target price on GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 21st. Citigroup boosted their target price on GoDaddy from $240.00 to $251.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. boosted their target price on GoDaddy from $224.00 to $231.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Robert W. Baird boosted their target price on GoDaddy from $200.00 to $225.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 19th. Finally, Benchmark boosted their target price on GoDaddy from $200.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, GoDaddy currently has an average rating of "Moderate Buy" and a consensus target price of $213.20.

GoDaddy Price Performance

GDDY stock traded down $2.69 during midday trading on Friday, reaching $179.51. The company had a trading volume of 601,967 shares, compared to its average volume of 1,235,482. The company has a market capitalization of $25.20 billion, a price-to-earnings ratio of 13.85 and a beta of 1.15. The stock has a 50 day moving average price of $203.78 and a 200-day moving average price of $180.59. GoDaddy has a 1-year low of $108.02 and a 1-year high of $216.00. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.

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 company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. Equities research analysts expect that GoDaddy will post 4.96 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Brian Sharples sold 500 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total transaction of $98,885.00. Following the transaction, the director now directly owns 23,621 shares of the company's stock, valued at $4,671,525.17. This represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total transaction of $593,310.00. Following the completion of the sale, the chief executive officer now directly owns 342,956 shares of the company's stock, valued at approximately $67,826,408.12. This trade represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,482 shares of company stock worth $4,709,650. Company insiders own 0.61% of the company's stock.

Institutional Trading of GoDaddy

Large investors have recently made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in GoDaddy by 3.4% in the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company's stock worth $31,052,000 after acquiring an additional 6,424 shares in the last quarter. Highland Capital Management LLC bought a new stake in shares of GoDaddy during the third quarter valued at approximately $1,132,000. CWA Asset Management Group LLC raised its position 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 purchasing an additional 3,631 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in shares of GoDaddy by 28.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company's stock worth $6,907,000 after purchasing an additional 9,631 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd grew its position in GoDaddy by 39.6% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company's stock valued at $9,410,000 after purchasing an additional 17,021 shares during the period. 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.