B. Riley Forecasts Strong Price Appreciation for GoDaddy (NYSE:GDDY) Stock

GoDaddy (NYSE:GDDY) had its price objective increased by equities researchers at B. Riley from $170.00 to $190.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. B. Riley’s price target would suggest a potential upside of 16.30% from the company’s current price. B. Riley also issued estimates for GoDaddy’s Q4 2024 earnings at $1.60 EPS, FY2024 earnings at $5.10 EPS, Q1 2025 earnings at $1.68 EPS, Q2 2025 earnings at $1.75 EPS, Q3 2025 earnings at $1.98 EPS, Q4 2025 earnings at $2.15 EPS, FY2025 earnings at $7.54 EPS, FY2026 earnings at $10.01 EPS, FY2027 earnings at $12.45 EPS and FY2028 earnings at $15.31 EPS.

A number of other equities analysts have also recently issued reports on GDDY. Benchmark increased their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday. Piper Sandler increased their target price on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday. Barclays increased their target price on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research report on Monday, October 7th. Finally, StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $171.38.

GoDaddy Price Performance

NYSE:GDDY opened at $163.37 on Thursday. The stock has a market cap of $23.03 billion, a P/E ratio of 12.63 and a beta of 1.12. GoDaddy has a one year low of $74.12 and a one year high of $171.93. The company has a fifty day moving average price of $159.17 and a 200 day moving average price of $146.82. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 313.25%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the company posted $0.89 EPS. The business’s revenue was up 7.3% on a year-over-year basis. Analysts anticipate that GoDaddy will post 5.07 earnings per share for the current year.

Insider Activity

In related news, CAO Nick Daddario sold 2,976 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $151.61, for a total value of $451,191.36. Following the sale, the chief accounting officer now directly owns 14,728 shares in the company, valued at $2,232,912.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total transaction of $500,730.00. Following the sale, the chief executive officer now directly owns 358,773 shares in the company, valued at approximately $59,882,801.43. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Nick Daddario sold 2,976 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $151.61, for a total transaction of $451,191.36. Following the sale, the chief accounting officer now owns 14,728 shares in the company, valued at $2,232,912.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,744 shares of company stock valued at $4,089,571. 0.61% of the stock is currently owned by insiders.

Institutional Trading of GoDaddy

Hedge funds and other institutional investors have recently made changes to their positions in the business. ORG Wealth Partners LLC acquired a new stake in shares of GoDaddy in the third quarter valued at approximately $30,000. Transcendent Capital Group LLC bought a new position in shares of GoDaddy in the second quarter valued at $28,000. ORG Partners LLC bought a new position in shares of GoDaddy in the second quarter valued at $32,000. International Assets Investment Management LLC bought a new position in shares of GoDaddy in the second quarter valued at $36,000. Finally, Carolina Wealth Advisors LLC bought a new position in shares of GoDaddy in the third quarter valued at $49,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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.