Barclays Raises GoDaddy (NYSE:GDDY) Price Target to $150.00

GoDaddy (NYSE:GDDY) had its target price upped by Barclays from $130.00 to $150.00 in a research note published on Friday, Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

A number of other equities research analysts have also weighed in on GDDY. UBS Group lifted their price objective on GoDaddy from $110.00 to $118.00 and gave the company a neutral rating in a report on Wednesday, February 14th. Benchmark reaffirmed a buy rating and set a $150.00 price objective on shares of GoDaddy in a report on Wednesday. JPMorgan Chase & Co. raised their target price on GoDaddy from $128.00 to $136.00 and gave the company an overweight rating in a report on Tuesday, April 2nd. Morgan Stanley upped their price target on shares of GoDaddy from $120.00 to $132.00 and gave the stock an equal weight rating in a research note on Thursday, March 14th. Finally, Evercore ISI cut shares of GoDaddy from an outperform rating to an in-line rating and raised their price objective for the company from $100.00 to $110.00 in a research note on Wednesday, February 14th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, GoDaddy has an average rating of Moderate Buy and a consensus target price of $142.73.

GoDaddy Stock Performance

Shares of NYSE:GDDY traded down $0.69 during trading on Friday, reaching $123.64. The company had a trading volume of 2,261,279 shares, compared to its average volume of 1,217,650. GoDaddy has a fifty-two week low of $67.43 and a fifty-two week high of $127.99. The company has a debt-to-equity ratio of 61.07, a current ratio of 0.47 and a quick ratio of 0.47. The stock’s fifty day moving average price is $119.99 and its 200 day moving average price is $106.44. The firm has a market capitalization of $17.62 billion, a price-to-earnings ratio of 10.27 and a beta of 1.09.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. GoDaddy had a net margin of 40.38% and a negative return on equity of 102.82%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. As a group, equities research analysts predict that GoDaddy will post 4.93 EPS for the current year.

Insider Activity

In related news, CFO Mark Mccaffrey sold 624 shares of GoDaddy stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total transaction of $75,397.92. Following the completion of the sale, the chief financial officer now owns 116,328 shares in the company, valued at approximately $14,055,912.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Amanpal Singh Bhutani sold 8,687 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $114.11, for a total transaction of $991,273.57. Following the transaction, the chief executive officer now owns 454,031 shares of the company’s stock, valued at $51,809,477.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Mccaffrey sold 624 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total transaction of $75,397.92. Following the sale, the chief financial officer now owns 116,328 shares in the company, valued at approximately $14,055,912.24. The disclosure for this sale can be found here. Insiders have sold 125,234 shares of company stock worth $14,025,346 over the last three months. 0.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GoDaddy

Several hedge funds have recently made changes to their positions in GDDY. Norges Bank acquired a new position in GoDaddy in the fourth quarter valued at $181,687,000. Federated Hermes Inc. lifted its holdings in shares of GoDaddy by 3,402.0% during the 4th quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock worth $101,442,000 after acquiring an additional 928,273 shares during the period. Los Angeles Capital Management LLC boosted its position in shares of GoDaddy by 7,379.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 723,752 shares of the technology company’s stock worth $76,834,000 after acquiring an additional 714,075 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in GoDaddy by 71.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock valued at $123,963,000 after purchasing an additional 695,897 shares during the period. Finally, Bank of New York Mellon Corp increased its position in GoDaddy by 88.7% during the third quarter. Bank of New York Mellon Corp now owns 1,435,153 shares of the technology company’s stock worth $106,890,000 after purchasing an additional 674,719 shares during the last quarter. Institutional investors and hedge funds 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.