GoDaddy (NYSE:GDDY) Now Covered by Piper Sandler

Piper Sandler began coverage on shares of GoDaddy (NYSE:GDDY) in a report released on Thursday. The firm set a “neutral” rating and a $93.00 price target on the technology company’s stock. Piper Sandler’s price target points to a potential upside of 6.26% from the stock’s current price.

GDDY has been the subject of a number of other research reports. Cantor Fitzgerald dropped their target price on shares of GoDaddy from $130.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Citigroup decreased their price objective on shares of GoDaddy from $195.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Weiss Ratings reissued a “hold (c)” rating on shares of GoDaddy in a research report on Wednesday, January 28th. UBS Group cut their target price on shares of GoDaddy from $145.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $100.00 price target on shares of GoDaddy in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $125.57.

GoDaddy Trading Up 1.1%

Shares of GDDY stock traded up $0.99 on Thursday, reaching $87.53. 111,794 shares of the stock were exchanged, compared to its average volume of 2,182,835. The stock has a market cap of $11.67 billion, a P/E ratio of 14.06, a price-to-earnings-growth ratio of 0.82 and a beta of 0.96. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 17.50. The firm has a 50 day moving average of $99.07 and a two-hundred day moving average of $121.73. GoDaddy has a 1-year low of $73.06 and a 1-year high of $193.55.

GoDaddy (NYSE:GDDY) last issued its earnings results on Tuesday, February 24th. The technology company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.22. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. GoDaddy had a return on equity of 369.00% and a net margin of 17.67%.The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.36 earnings per share. On average, research analysts anticipate that GoDaddy will post 6.63 EPS for the current year.

Insider Activity

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 34,148 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total value of $3,038,830.52. Following the completion of the transaction, the chief executive officer directly owned 530,120 shares of the company’s stock, valued at $47,175,378.80. This represents a 6.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Phontip Palitwanon sold 1,310 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $90.15, for a total value of $118,096.50. Following the completion of the transaction, the chief accounting officer directly owned 20,349 shares of the company’s stock, valued at $1,834,462.35. This represents a 6.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 61,918 shares of company stock valued at $5,500,469. 0.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GoDaddy

Institutional investors and hedge funds have recently made changes to their positions in the business. Hemington Wealth Management increased its stake in shares of GoDaddy by 85.9% in the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after buying an additional 85 shares during the last quarter. Rachor Investment Advisory Services LLC bought a new position in GoDaddy during the 4th quarter valued at $25,000. Activest Wealth Management boosted its stake in GoDaddy by 6,600.0% during the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after acquiring an additional 198 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in GoDaddy during the 4th quarter worth $25,000. Finally, Root Financial Partners LLC acquired a new position in GoDaddy during the 3rd quarter worth $31,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.