Morgan Stanley Raises GoDaddy (NYSE:GDDY) Price Target to $137.00

GoDaddy (NYSE:GDDY) had its price target lifted by Morgan Stanley from $132.00 to $137.00 in a research note published on Friday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the technology company’s stock.

Several other analysts have also recently commented on the stock. Barclays raised their price objective on shares of GoDaddy from $130.00 to $150.00 and gave the company an overweight rating in a research note on Friday. Raymond James started coverage on GoDaddy in a research report on Wednesday, March 27th. They issued a strong-buy rating and a $150.00 price objective for the company. Piper Sandler boosted their target price on GoDaddy from $130.00 to $145.00 and gave the stock an overweight rating in a research report on Thursday, March 7th. StockNews.com upgraded GoDaddy from a buy rating to a strong-buy rating in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada raised their price objective on shares of GoDaddy from $124.00 to $145.00 and gave the stock an outperform rating in a research report on Friday. Four investment 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’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $142.73.

GoDaddy Stock Up 3.6 %

Shares of GDDY stock traded up $4.45 during trading hours on Friday, hitting $128.09. 543,297 shares of the company’s stock traded hands, compared to its average volume of 1,455,538. The stock has a market cap of $18.25 billion, a price-to-earnings ratio of 10.27 and a beta of 1.09. The company has a quick ratio of 0.47, a current ratio of 0.55 and a debt-to-equity ratio of 9.15. The stock’s fifty day simple moving average is $119.99 and its two-hundred day simple moving average is $106.87. GoDaddy has a 12-month low of $68.98 and a 12-month high of $128.60.

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 analysts’ consensus estimates of $1.03 by $0.05. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. On average, analysts expect that GoDaddy will post 4.93 EPS for the current year.

Insider Activity at GoDaddy

In related news, CFO Mark Mccaffrey sold 624 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total value of $75,397.92. Following the completion of 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 can be accessed through the SEC website. In other news, CFO Mark Mccaffrey sold 624 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total value of $75,397.92. Following the completion of the sale, the chief financial officer now directly owns 116,328 shares of the company’s stock, valued at $14,055,912.24. The transaction was disclosed in a legal filing 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 on Friday, March 1st. The stock was sold at an average price of $114.11, for a total transaction of $456,440.00. Following the completion of the sale, the chief operating officer now owns 208,632 shares in the company, valued at approximately $23,806,997.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,234 shares of company stock valued at $14,025,346. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GDDY. V Square Quantitative Management LLC bought a new stake in GoDaddy during the fourth quarter valued at about $28,000. GAMMA Investing LLC grew its holdings in shares of GoDaddy by 102.3% during the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after buying an additional 133 shares during the last quarter. Frazier Financial Advisors LLC purchased a new stake in shares of GoDaddy during the 4th quarter worth about $33,000. Massmutual Trust Co. FSB ADV lifted its stake in GoDaddy by 140.4% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock worth $37,000 after purchasing an additional 205 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new stake in GoDaddy in the 3rd quarter valued at approximately $43,000. Hedge funds and other 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.