GoDaddy (NYSE:GDDY) PT Raised to $135.00 at Evercore ISI

GoDaddy (NYSE:GDDY) had its price objective lifted by Evercore ISI from $110.00 to $135.00 in a report released on Friday morning, Benzinga reports. They currently have an in-line rating on the technology company’s stock.

A number of other equities research analysts have also issued reports on GDDY. Robert W. Baird boosted their price objective on GoDaddy from $130.00 to $150.00 and gave the company an outperform rating in a report on Monday, March 25th. Raymond James assumed coverage on shares of GoDaddy in a research note on Wednesday, March 27th. They set a strong-buy rating and a $150.00 target price for the company. Morgan Stanley raised their price target on shares of GoDaddy from $132.00 to $137.00 and gave the stock an equal weight rating in a research note on Friday. JPMorgan Chase & Co. lifted their target price on GoDaddy from $128.00 to $136.00 and gave the company an overweight rating in a research report on Tuesday, April 2nd. Finally, Barclays upped their price target on shares of GoDaddy from $130.00 to $150.00 and gave the stock an overweight rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, GoDaddy presently has an average rating of Moderate Buy and an average price target of $142.73.

GoDaddy Price Performance

GoDaddy stock traded down $0.69 during midday trading on Friday, reaching $123.64. 2,261,279 shares of the stock traded hands, compared to its average volume of 1,217,650. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 61.07. GoDaddy has a 12 month low of $67.43 and a 12 month high of $127.99. The stock’s fifty day moving average is $119.99 and its 200-day moving average is $106.44. The stock has a market cap of $17.62 billion, a P/E ratio of 10.27 and a beta of 1.09.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. GoDaddy had a net margin of 40.38% and a negative return on equity of 102.82%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. As a group, equities research analysts anticipate that GoDaddy will post 4.93 EPS for the current year.

Insider Activity

In other GoDaddy news, CFO Mark Mccaffrey sold 624 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 116,328 shares of the company’s stock, valued at $14,055,912.24. The transaction was disclosed in a filing with the SEC, which is available at this link. In other GoDaddy news, CAO Nick Daddario sold 1,823 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $201,514.42. Following the sale, the chief accounting officer now directly owns 25,263 shares of the company’s stock, valued at approximately $2,792,572.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Mccaffrey sold 624 shares of the business’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 transaction, the chief financial officer now directly owns 116,328 shares of the company’s stock, valued at approximately $14,055,912.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,234 shares of company stock worth $14,025,346. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GDDY. V Square Quantitative Management LLC purchased a new stake in GoDaddy in the 4th quarter worth approximately $28,000. GAMMA Investing LLC boosted its holdings in GoDaddy by 102.3% during the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after buying an additional 133 shares in the last quarter. Frazier Financial Advisors LLC acquired a new stake in GoDaddy during the fourth quarter valued at $33,000. Massmutual Trust Co. FSB ADV increased its holdings in GoDaddy by 140.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock valued at $37,000 after buying an additional 205 shares in the last quarter. Finally, Rise Advisors LLC acquired a new position in shares of GoDaddy in the first quarter worth about $48,000. 90.28% of the stock is currently owned by hedge funds and other 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.