GoDaddy (NYSE:GDDY) Given New $210.00 Price Target at Benchmark

GoDaddy (NYSE:GDDY) had its price target cut by Benchmark from $240.00 to $210.00 in a research report released on Monday, MarketBeat.com reports. They currently have a buy rating on the technology company’s stock.

A number of other research analysts have also recently weighed in on the stock. Morgan Stanley lowered their target price on shares of GoDaddy from $159.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. JPMorgan Chase & Co. decreased their price target on GoDaddy from $222.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Citigroup lowered their price objective on GoDaddy from $214.00 to $195.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Raymond James Financial reiterated a “strong-buy” rating on shares of GoDaddy in a research report on Friday, October 31st. Finally, Royal Bank Of Canada set a $70.00 price target on GoDaddy in a report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $161.21.

GoDaddy Price Performance

NYSE GDDY opened at $87.84 on Monday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06. GoDaddy has a 12 month low of $86.78 and a 12 month high of $193.55. The stock has a market cap of $11.87 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 0.82 and a beta of 0.94. The company’s 50 day moving average is $108.03 and its two-hundred day moving average is $126.13.

Insider Activity at GoDaddy

In related news, CAO Phontip Palitwanon sold 2,397 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $128.44, for a total value of $307,870.68. Following the sale, the chief accounting officer owned 17,055 shares in the company, valued at approximately $2,190,544.20. The trade was a 12.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total transaction of $886,880.08. Following the transaction, the chief executive officer owned 399,133 shares of the company’s stock, valued at $51,065,076.02. This trade represents a 1.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 13,615 shares of company stock valued at $1,743,102. 0.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GoDaddy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewSquare Capital LLC boosted its holdings in shares of GoDaddy by 170.9% in the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after purchasing an additional 94 shares during the period. Hemington Wealth Management lifted its position in GoDaddy by 85.9% in the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after buying an additional 85 shares during the last quarter. Rachor Investment Advisory Services LLC purchased a new position in GoDaddy during the fourth quarter worth $25,000. Activest Wealth Management boosted its stake in GoDaddy by 6,600.0% during the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock worth $25,000 after buying an additional 198 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in GoDaddy during the fourth quarter valued at $25,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.