GoDaddy (NYSE:GDDY) Stock Price Expected to Rise, Piper Sandler Analyst Says

GoDaddy (NYSE:GDDY) had its target price boosted by Piper Sandler from $176.00 to $177.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Piper Sandler’s price target indicates a potential downside of 16.90% from the company’s current price.

A number of other research analysts have also recently commented on the stock. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Benchmark raised their target price on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday. B. Riley upped their price target on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Raymond James lifted their price objective on GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 21st. Finally, Robert W. Baird boosted their target price on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and a consensus target price of $200.60.

GoDaddy Stock Performance

Shares of NYSE GDDY opened at $212.99 on Friday. The firm has a market capitalization of $29.90 billion, a price-to-earnings ratio of 16.46 and a beta of 1.15. GoDaddy has a one year low of $108.00 and a one year high of $216.00. The business has a fifty day simple moving average of $204.59 and a 200 day simple moving average of $179.30. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. Sell-side analysts expect that GoDaddy will post 4.96 EPS for the current year.

Insider Buying and Selling at GoDaddy

In other news, CAO Phontip Palitwanon sold 770 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total value of $151,412.80. Following the transaction, the chief accounting officer now owns 23,059 shares of the company’s stock, valued at approximately $4,534,321.76. This trade represents a 3.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $103,850.00. Following the sale, the director now directly owns 22,621 shares of the company’s stock, valued at approximately $4,698,381.70. This trade represents a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,482 shares of company stock worth $4,709,650. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its holdings in GoDaddy by 3.4% in the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after purchasing an additional 6,424 shares during the last quarter. Highland Capital Management LLC acquired a new position in shares of GoDaddy during the 3rd quarter worth about $1,132,000. CWA Asset Management Group LLC grew its position in shares of GoDaddy by 29.2% during the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock worth $3,172,000 after buying an additional 3,631 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of GoDaddy by 28.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock valued at $6,907,000 after acquiring an additional 9,631 shares during the last quarter. Finally, Dai ichi Life Insurance Company Ltd raised its position in shares of GoDaddy by 39.6% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock valued at $9,410,000 after acquiring an additional 17,021 shares during the period. Institutional investors and hedge funds 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.