By otakuyassine3@gmail.com 
GoDaddy (NYSE:GDDY – Free Report) had its price target boosted by Morgan Stanley from $227.00 to $228.00 in a research report released on Friday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the technology company’s stock.
A number of other research firms have also weighed in on GDDY. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Jefferies Financial Group raised their target price on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Robert W. Baird boosted their price target on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Raymond James raised their price objective on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and a consensus price target of $213.20.
Read Our Latest Stock Report on GoDaddy
GoDaddy Stock Down 14.1 %
NYSE GDDY opened at $182.58 on Friday. GoDaddy has a 12 month low of $108.02 and a 12 month high of $216.00. The company has a market capitalization of $25.63 billion, a P/E ratio of 14.11 and a beta of 1.15. The company’s 50 day simple moving average is $204.20 and its 200 day simple moving average is $180.30. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.
GoDaddy (NYSE:GDDY – Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. Equities research analysts expect that GoDaddy will post 4.96 earnings per share for the current fiscal year.
Insider Buying and Selling at GoDaddy
In other GoDaddy news, CFO Mark Mccaffrey sold 2,678 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total value of $526,601.92. Following the completion of the sale, the chief financial officer now directly owns 89,800 shares of the company’s stock, valued at $17,658,272. The trade was a 2.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $103,850.00. Following the transaction, the director now owns 22,621 shares in the company, valued at $4,698,381.70. This represents a 2.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,482 shares of company stock worth $4,709,650 over the last 90 days. 0.61% of the stock is currently owned by corporate insiders.
Institutional Trading of GoDaddy
Large investors have recently made changes to their positions in the stock. Ashton Thomas Securities LLC bought a new position in shares of GoDaddy in the 3rd quarter valued at approximately $27,000. Anchor Investment Management LLC bought a new position in shares of GoDaddy in the third quarter valued at approximately $31,000. Versant Capital Management Inc acquired a new stake in shares of GoDaddy in the fourth quarter worth $43,000. Rakuten Securities Inc. boosted its holdings in shares of GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after buying an additional 165 shares during the period. Finally, Huntington National Bank grew its stake in GoDaddy by 298.7% in the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock valued at $48,000 after buying an additional 230 shares during the last quarter. 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.
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