GoDaddy (NYSE:GDDY) PT Raised to $145.00 at Royal Bank of Canada

GoDaddy (NYSE:GDDY) had its price objective upped by investment analysts at Royal Bank of Canada from $124.00 to $145.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 17.28% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. B. Riley raised their price objective on shares of GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. StockNews.com upgraded shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 14th. Evercore ISI cut GoDaddy from an “outperform” rating to an “in-line” rating and upped their price objective for the company from $100.00 to $110.00 in a report on Wednesday, February 14th. Robert W. Baird raised their target price on GoDaddy from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, March 25th. Finally, Raymond James initiated coverage on GoDaddy in a research note on Wednesday, March 27th. They issued a “strong-buy” rating and a $150.00 price target on the stock. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $142.73.

GoDaddy Trading Down 0.6 %

GDDY opened at $123.64 on Friday. The company has a debt-to-equity ratio of 61.07, a current ratio of 0.47 and a quick ratio of 0.47. The company’s 50 day simple moving average is $119.99 and its two-hundred day simple moving average is $106.65. The firm has a market capitalization of $17.62 billion, a price-to-earnings ratio of 10.27 and a beta of 1.09. GoDaddy has a 1-year low of $67.43 and a 1-year high of $127.99.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a negative return on equity of 102.82% and a net margin of 40.38%. Analysts expect that GoDaddy will post 4.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $122.60, for a total value of $490,400.00. Following the sale, the chief operating officer now directly owns 200,632 shares in the company, valued at approximately $24,597,483.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total transaction of $490,400.00. Following the completion of the transaction, the chief operating officer now directly owns 200,632 shares of the company’s stock, valued at approximately $24,597,483.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 28,392 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $110.54, for a total value of $3,138,451.68. Following the completion of the transaction, the chief financial officer now owns 120,952 shares in the company, valued at approximately $13,370,034.08. The disclosure for this sale can be found here. Insiders sold 125,234 shares of company stock worth $14,025,346 in the last 90 days. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of GoDaddy

Several institutional investors have recently modified their holdings of GDDY. Xponance Inc. lifted its holdings in shares of GoDaddy by 79.8% in the 3rd quarter. Xponance Inc. now owns 27,804 shares of the technology company’s stock valued at $2,071,000 after purchasing an additional 12,343 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of GoDaddy by 88.7% in the third quarter. Bank of New York Mellon Corp now owns 1,435,153 shares of the technology company’s stock valued at $106,890,000 after acquiring an additional 674,719 shares during the period. New York State Teachers Retirement System grew its position in shares of GoDaddy by 472.7% during the third quarter. New York State Teachers Retirement System now owns 79,612 shares of the technology company’s stock worth $5,930,000 after acquiring an additional 65,712 shares during the last quarter. IFM Investors Pty Ltd grew its position in shares of GoDaddy by 24.1% during the third quarter. IFM Investors Pty Ltd now owns 47,345 shares of the technology company’s stock worth $3,526,000 after acquiring an additional 9,195 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of GoDaddy by 40.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,796 shares of the technology company’s stock valued at $3,560,000 after acquiring an additional 13,665 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

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.