GoDaddy (NYSE:GDDY) Given New $243.00 Price Target at Barclays

GoDaddy (NYSE:GDDY) had its target price hoisted by analysts at Barclays from $235.00 to $243.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s price target indicates a potential upside of 27.44% from the stock’s current price.

GDDY has been the topic of several other reports. Robert W. Baird lifted their target price on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Morgan Stanley lifted their target price on shares of GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday. Benchmark boosted their price target on shares of GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank of Canada restated an “outperform” rating and issued a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. boosted their price target on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and a consensus price target of $204.53.

GoDaddy Price Performance

GDDY stock traded down $21.86 during mid-day trading on Friday, hitting $190.69. The stock had a trading volume of 1,129,279 shares, compared to its average volume of 1,141,495. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy has a 52 week low of $108.02 and a 52 week high of $216.00. The firm has a market capitalization of $26.77 billion, a P/E ratio of 14.81 and a beta of 1.15. The firm has a fifty day simple moving average of $204.59 and a 200 day simple moving average of $179.30.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share 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%. As a group, research analysts forecast that GoDaddy will post 4.96 EPS for the current year.

Insider Transactions at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the transaction, the chief executive officer now directly owns 330,153 shares of the company’s stock, valued at approximately $68,572,778.10. The trade was a 0.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $197.77, for a total transaction of $98,885.00. Following the sale, the director now directly owns 23,621 shares in the company, 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. Insiders sold a total of 23,482 shares of company stock worth $4,709,650 in the last quarter. 0.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GoDaddy

Several institutional investors have recently added to or reduced their stakes in GDDY. CWM LLC increased its position in shares of GoDaddy by 2.7% during the third quarter. CWM LLC now owns 6,034 shares of the technology company’s stock valued at $946,000 after buying an additional 159 shares during the period. Creative Planning increased its position in shares of GoDaddy by 41.6% during the third quarter. Creative Planning now owns 14,187 shares of the technology company’s stock valued at $2,224,000 after buying an additional 4,168 shares during the period. Hengehold Capital Management LLC increased its position in shares of GoDaddy by 15.4% during the third quarter. Hengehold Capital Management LLC now owns 2,155 shares of the technology company’s stock valued at $338,000 after buying an additional 288 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of GoDaddy by 0.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock valued at $2,837,000 after buying an additional 67 shares during the period. Finally, V Square Quantitative Management LLC increased its position in shares of GoDaddy by 37.0% during the third quarter. V Square Quantitative Management LLC now owns 2,093 shares of the technology company’s stock valued at $328,000 after buying an additional 565 shares during the period. 90.28% of the stock is owned by hedge funds and other 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.