UBS Group Boosts GoDaddy (NYSE:GDDY) Price Target to $130.00

GoDaddy (NYSE:GDDY) had its price objective upped by stock analysts at UBS Group from $118.00 to $130.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. UBS Group’s price target points to a potential upside of 5.14% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. Evercore ISI raised their price target on shares of GoDaddy from $110.00 to $135.00 and gave the company an “in-line” rating in a research note on Friday. Raymond James started coverage on GoDaddy in a research report on Wednesday, March 27th. They set a “strong-buy” rating and a $150.00 target price for the company. Barclays lifted their target price on GoDaddy from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday. Robert W. Baird increased their price target on GoDaddy from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, March 25th. Finally, B. Riley raised their price objective on GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and a consensus target price of $142.73.

GoDaddy Price Performance

GoDaddy stock opened at $123.64 on Friday. The stock has a 50-day moving average price of $119.99 and a two-hundred day moving average price of $106.65. GoDaddy has a 12 month low of $67.43 and a 12 month high of $127.99. The company has a market capitalization of $17.62 billion, a PE ratio of 10.27 and a beta of 1.09. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 61.07.

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, beating the consensus estimate of $1.03 by $0.05. GoDaddy had a negative return on equity of 102.82% and a net margin of 40.38%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. Analysts expect that GoDaddy will post 4.93 EPS for the current year.

Insider Activity at GoDaddy

In other news, CAO Nick Daddario sold 1,823 shares of the firm’s 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 $201,514.42. Following the completion of the sale, the chief accounting officer now owns 25,263 shares of the company’s stock, valued at approximately $2,792,572.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Nick Daddario sold 1,823 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $201,514.42. Following the transaction, the chief accounting officer now owns 25,263 shares in the company, valued at $2,792,572.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Chen sold 4,000 shares of the firm’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 disclosure for this sale can be found here. Insiders have sold a total of 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 Investors Weigh In On GoDaddy

Several hedge funds and other institutional investors have recently modified their holdings of GDDY. Mediolanum International Funds Ltd acquired a new stake in GoDaddy in the 1st quarter valued at $10,822,000. GSA Capital Partners LLP acquired a new position in shares of GoDaddy during the first quarter valued at about $667,000. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of GoDaddy by 62.4% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,994 shares of the technology company’s stock worth $593,000 after acquiring an additional 1,919 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of GoDaddy in the 1st quarter worth about $930,000. Finally, Daiwa Securities Group Inc. lifted its position in GoDaddy by 14.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 28,178 shares of the technology company’s stock valued at $3,344,000 after acquiring an additional 3,500 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

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.