GoDaddy (NYSE:GDDY) Given New $150.00 Price Target at Robert W. Baird

GoDaddy (NYSE:GDDY) had its price objective lifted by Robert W. Baird from $130.00 to $150.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

GDDY has been the subject of several other research reports. Piper Sandler upped their price target on shares of GoDaddy from $130.00 to $145.00 and gave the stock an overweight rating in a research report on Thursday, March 7th. Royal Bank of Canada restated an outperform rating and issued a $124.00 price target on shares of GoDaddy in a research note on Thursday, March 7th. Morgan Stanley increased their price objective on GoDaddy from $120.00 to $132.00 and gave the stock an equal weight rating in a report on Thursday, March 14th. StockNews.com raised GoDaddy from a buy rating to a strong-buy rating in a research note on Wednesday, February 14th. Finally, UBS Group increased their price target on GoDaddy from $110.00 to $118.00 and gave the stock a neutral rating in a research note on Wednesday, February 14th. Four analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, GoDaddy currently has an average rating of Moderate Buy and a consensus price target of $135.10.

GoDaddy Stock Performance

Shares of NYSE GDDY opened at $118.68 on Monday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 61.07. The firm’s 50-day moving average price is $113.01 and its two-hundred day moving average price is $97.59. GoDaddy has a 52-week low of $67.43 and a 52-week high of $122.83. The stock has a market capitalization of $16.91 billion, a P/E ratio of 12.39 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.05. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. As a group, sell-side analysts forecast that GoDaddy will post 4.76 earnings per share for the current year.

Insider Transactions at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 59,608 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $6,589,068.32. Following the completion of the transaction, the chief executive officer now owns 394,423 shares of the company’s stock, valued at $43,599,518.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other GoDaddy news, CFO Mark Mccaffrey sold 4,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $110.92, for a total value of $443,680.00. Following the transaction, the chief financial officer now owns 116,952 shares of the company’s stock, valued at $12,972,315.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 59,608 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $6,589,068.32. Following the sale, the chief executive officer now directly owns 394,423 shares of the company’s stock, valued at $43,599,518.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,115 shares of company stock valued at $13,457,935. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrature Capital Ltd raised its stake in GoDaddy by 78.6% during the 4th quarter. Quadrature Capital Ltd now owns 68,567 shares of the technology company’s stock valued at $7,280,000 after purchasing an additional 30,172 shares during the period. Sivia Capital Partners LLC acquired a new position in GoDaddy during the fourth quarter valued at $309,000. Royal London Asset Management Ltd. raised its position in GoDaddy by 5.6% during the fourth quarter. Royal London Asset Management Ltd. now owns 60,191 shares of the technology company’s stock valued at $6,390,000 after buying an additional 3,179 shares during the period. Goldman Sachs Group Inc. lifted its stake in GoDaddy by 13.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 905,858 shares of the technology company’s stock worth $96,166,000 after acquiring an additional 110,076 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its position in GoDaddy by 21.4% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 46,300 shares of the technology company’s stock worth $4,915,000 after acquiring an additional 8,154 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.