GoDaddy (NYSE:GDDY) Sets New 1-Year High Following Analyst Upgrade

GoDaddy Inc. (NYSE:GDDY) shares hit a new 52-week high on Friday after UBS Group raised their price target on the stock from $118.00 to $130.00. UBS Group currently has a neutral rating on the stock. GoDaddy traded as high as $127.99 and last traded at $123.60, with a volume of 484746 shares traded. The stock had previously closed at $124.33.

Several other brokerages have also recently weighed in on GDDY. StockNews.com raised GoDaddy from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 14th. Benchmark reissued a “buy” rating and set a $150.00 target price on shares of GoDaddy in a research report on Wednesday. Morgan Stanley raised their price target on GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Friday. Barclays boosted their price objective on shares of GoDaddy from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Evercore ISI lifted their price target on shares of GoDaddy from $110.00 to $135.00 and gave the stock an “in-line” rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $142.73.

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 59,608 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $6,589,068.32. Following the completion of the transaction, the chief executive officer now directly owns 394,423 shares of the company’s stock, valued at approximately $43,599,518.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $114.11, for a total value of $456,440.00. Following the completion of the sale, the chief operating officer now owns 208,632 shares of the company’s stock, valued at $23,806,997.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 59,608 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $6,589,068.32. Following the completion of the sale, the chief executive officer now directly owns 394,423 shares of the company’s stock, valued at approximately $43,599,518.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,234 shares of company stock worth $14,025,346. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Institutional investors have recently made changes to their positions in the stock. Gulf International Bank UK Ltd lifted its stake in GoDaddy by 0.9% during the 1st quarter. Gulf International Bank UK Ltd now owns 12,030 shares of the technology company’s stock worth $1,427,000 after acquiring an additional 113 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of GoDaddy by 3.9% during the first quarter. Sivia Capital Partners LLC now owns 3,023 shares of the technology company’s stock worth $359,000 after purchasing an additional 113 shares in the last quarter. Ingalls & Snyder LLC boosted its stake in shares of GoDaddy by 0.3% in the fourth quarter. Ingalls & Snyder LLC now owns 41,923 shares of the technology company’s stock valued at $4,451,000 after purchasing an additional 120 shares during the period. GAMMA Investing LLC grew its holdings in shares of GoDaddy by 102.3% in the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after purchasing an additional 133 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in GoDaddy by 7.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,940 shares of the technology company’s stock worth $144,000 after buying an additional 137 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Stock Performance

The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 61.07. The company has a market capitalization of $17.62 billion, a price-to-earnings ratio of 12.91 and a beta of 1.09. The stock’s fifty day simple moving average is $119.99 and its 200-day simple moving average is $106.44.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.05. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. GoDaddy had a net margin of 32.74% and a negative return on equity of 89.25%. Analysts predict that GoDaddy Inc. will post 4.93 EPS for the current year.

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.