GoDaddy (NYSE:GDDY) Given New $177.00 Price Target at Piper Sandler

GoDaddy (NYSE:GDDY) had its target price hoisted by Piper Sandler from $176.00 to $177.00 in a research note published on Friday morning,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Several other equities analysts have also recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $230.00 target price (up from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Morgan Stanley boosted their target price on shares of GoDaddy from $189.00 to $227.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Jefferies Financial Group boosted their target price on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Benchmark boosted their target price on shares of GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their target price on shares of GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $213.20.

GoDaddy Stock Performance

NYSE GDDY opened at $182.58 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The company has a market capitalization of $25.63 billion, a P/E ratio of 14.11 and a beta of 1.15. GoDaddy has a 12-month low of $108.02 and a 12-month high of $216.00. The firm has a 50-day moving average price of $204.20 and a two-hundred day moving average price of $179.81.

GoDaddy (NYSE:GDDY) last posted 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%. Analysts anticipate that GoDaddy will post 4.96 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total value of $593,310.00. Following the completion of the transaction, the chief executive officer now directly owns 342,956 shares in the company, valued at approximately $67,826,408.12. This represents a 0.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 23,621 shares of the company’s stock, valued at approximately $4,671,525.17. This trade represents a 2.07 % 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. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GoDaddy

A number of institutional investors have recently modified their holdings of the company. State Street Corp boosted its stake in shares of GoDaddy by 2.2% in the 3rd quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock valued at $1,080,549,000 after purchasing an additional 147,105 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of GoDaddy by 11.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company’s stock valued at $751,778,000 after purchasing an additional 395,160 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of GoDaddy by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company’s stock valued at $692,245,000 after purchasing an additional 90,810 shares during the last quarter. WCM Investment Management LLC boosted its stake in shares of GoDaddy by 7,083.4% in the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock valued at $678,941,000 after purchasing an additional 3,356,678 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of GoDaddy by 11.6% in the 4th quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company’s stock valued at $575,122,000 after purchasing an additional 304,033 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

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.