GoDaddy (NYSE:GDDY) Price Target Raised to $135.00

GoDaddy (NYSE:GDDY) had its price target upped by Evercore ISI from $110.00 to $135.00 in a research note released on Friday, Benzinga reports. The brokerage currently has an in-line rating on the technology company’s stock.

Several other brokerages have also recently commented on GDDY. Benchmark reiterated a buy rating and set a $150.00 target price on shares of GoDaddy in a research report on Wednesday, May 1st. Raymond James assumed coverage on GoDaddy in a research note on Wednesday, March 27th. They issued a strong-buy rating and a $150.00 target price on the stock. UBS Group boosted their target price on GoDaddy from $110.00 to $118.00 and gave the company a neutral rating in a research report on Wednesday, February 14th. Robert W. Baird raised their target price on GoDaddy from $130.00 to $150.00 and gave the company an outperform rating in a research report on Monday, March 25th. Finally, Barclays boosted their target price on GoDaddy from $130.00 to $150.00 and gave the stock an overweight rating in a research note on Friday. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $142.73.

GoDaddy Stock Up 3.6 %

Shares of GDDY traded up $4.45 during midday trading on Friday, reaching $128.09. 543,297 shares of the stock were exchanged, compared to its average volume of 1,455,538. The company’s 50 day moving average is $119.99 and its two-hundred day moving average is $106.87. GoDaddy has a 52 week low of $68.98 and a 52 week high of $128.60. The company has a market capitalization of $18.25 billion, a P/E ratio of 10.27 and a beta of 1.09. The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 9.15.

GoDaddy (NYSE:GDDY) last released its earnings results on Tuesday, February 13th. The technology company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.05. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. On average, sell-side analysts anticipate that GoDaddy will post 4.93 earnings per share for the current year.

Insider Activity at GoDaddy

In other news, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $114.11, for a total value of $456,440.00. Following the sale, the chief operating officer now directly owns 208,632 shares in the company, valued at approximately $23,806,997.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO Roger Chen sold 4,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $114.11, for a total transaction of $456,440.00. Following the sale, the chief operating officer now owns 208,632 shares in the company, valued at approximately $23,806,997.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $75,397.92. Following the transaction, the chief financial officer now directly owns 116,328 shares in the company, valued at $14,055,912.24. 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. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GDDY. Ameriprise Financial Inc. grew its stake in shares of GoDaddy by 9.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company’s stock valued at $473,713,000 after buying an additional 561,614 shares during the period. Norges Bank purchased a new position in shares of GoDaddy in the 4th quarter worth about $181,687,000. Jacobs Levy Equity Management Inc. increased its holdings in GoDaddy by 71.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock valued at $123,963,000 after buying an additional 695,897 shares during the last quarter. Bank of New York Mellon Corp grew 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 last quarter. Finally, Northern Trust Corp grew its stake in shares of GoDaddy by 36.8% in the 3rd quarter. Northern Trust Corp now owns 1,395,619 shares of the technology company’s stock worth $103,946,000 after purchasing an additional 375,568 shares during the last quarter. 90.28% of the stock is currently 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.