Barclays Increases GoDaddy (NYSE:GDDY) Price Target to $150.00

GoDaddy (NYSE:GDDY) had its price objective hoisted by Barclays from $130.00 to $150.00 in a research note released on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

Several other analysts also recently commented on GDDY. Benchmark reissued a buy rating and issued a $150.00 price objective on shares of GoDaddy in a research note on Wednesday, May 1st. Piper Sandler upped their target price on shares of GoDaddy from $130.00 to $145.00 and gave the stock an overweight rating in a research note on Thursday, March 7th. B. Riley boosted their price target on shares of GoDaddy from $124.00 to $142.00 and gave the stock a buy rating in a report on Thursday, March 7th. StockNews.com raised shares of GoDaddy from a buy rating to a strong-buy rating in a research report on Wednesday, February 14th. Finally, Morgan Stanley lifted their price target on GoDaddy from $120.00 to $132.00 and gave the stock an equal weight rating in a report on Thursday, March 14th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $142.73.

GoDaddy Stock Up 3.8 %

GDDY stock opened at $128.34 on Friday. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.47 and a current ratio of 0.55. GoDaddy has a fifty-two week low of $68.98 and a fifty-two week high of $128.60. The stock’s 50 day simple moving average is $120.27 and its 200 day simple moving average is $107.24. The company has a market cap of $18.29 billion, a P/E ratio of 10.66 and a beta of 1.09.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results 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 net margin of 40.38% and a negative return on equity of 186.09%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. On average, research analysts expect that GoDaddy will post 4.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Mark Mccaffrey sold 624 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total transaction of $75,397.92. Following the sale, the chief financial officer now directly owns 116,328 shares in the company, valued at $14,055,912.24. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Mark Mccaffrey sold 624 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total value of $75,397.92. Following the sale, the chief financial officer now owns 116,328 shares in the company, valued at $14,055,912.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $490,400.00. Following the completion of the transaction, the chief operating officer now owns 200,632 shares in the company, valued at $24,597,483.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 125,234 shares of company stock valued at $14,025,346. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of GoDaddy

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of GoDaddy in the 4th quarter worth about $181,687,000. Federated Hermes Inc. raised its stake in shares of GoDaddy by 3,402.0% during the fourth quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock worth $101,442,000 after acquiring an additional 928,273 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of GoDaddy by 7,379.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 723,752 shares of the technology company’s stock worth $76,834,000 after acquiring an additional 714,075 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of GoDaddy by 71.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock valued at $123,963,000 after purchasing an additional 695,897 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in GoDaddy by 88.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,435,153 shares of the technology company’s stock worth $106,890,000 after purchasing an additional 674,719 shares during the period. 90.28% of the stock is owned by institutional investors.

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.