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

GoDaddy (NYSE:GDDY) had its target price upped by analysts at Benchmark from $200.00 to $230.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Benchmark’s price objective suggests a potential upside of 25.97% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Citigroup boosted their price target on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Raymond James boosted their price target on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. Piper Sandler boosted their price target on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group boosted their price target on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, B. Riley boosted their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Six 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $213.20.

GoDaddy Stock Down 14.1 %

Shares of NYSE GDDY opened at $182.58 on Thursday. The stock has a market capitalization of $25.63 billion, a P/E ratio of 14.11 and a beta of 1.15. The company has a 50-day moving average price of $204.20 and a 200-day moving average price of $179.81. 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) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. On average, equities research analysts forecast that GoDaddy will post 4.96 EPS for the current fiscal year.

Insider Activity

In other news, CFO Mark Mccaffrey sold 480 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $201.29, for a total value of $96,619.20. Following the completion of the sale, the chief financial officer now owns 83,254 shares of the company’s stock, valued at approximately $16,758,197.66. This represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $38,283,445.20. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,482 shares of company stock valued at $4,709,650. Corporate 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 added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV raised its holdings in GoDaddy by 4.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 64,438 shares of the technology company’s stock valued at $12,718,000 after buying an additional 2,769 shares during the last quarter. Westbourne Investments Inc. bought a new stake in GoDaddy during the 4th quarter valued at $714,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in GoDaddy by 88.2% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,381 shares of the technology company’s stock valued at $213,630,000 after buying an additional 507,374 shares during the last quarter. Freestone Grove Partners LP bought a new stake in GoDaddy during the 4th quarter valued at $1,216,000. Finally, Rehmann Capital Advisory Group raised its holdings in GoDaddy by 4.1% during the 4th quarter. Rehmann Capital Advisory Group now owns 1,793 shares of the technology company’s stock valued at $344,000 after buying an additional 71 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

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.