Brokerages Set GoDaddy Inc. (NYSE:GDDY) Price Target at $214.86

Shares of GoDaddy Inc. (NYSE:GDDY - Get Free Report) have received a consensus rating of "Moderate Buy" from the fourteen research firms that are presently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $214.86.

A number of equities analysts recently commented on GDDY shares. Morgan Stanley decreased their target price on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Benchmark restated a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. Royal Bank Of Canada restated an "outperform" rating and set a $225.00 price objective on shares of GoDaddy in a research report on Monday, June 23rd. JPMorgan Chase & Co. raised their price objective on GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Finally, Citigroup decreased their price target on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a research note on Friday, April 25th.

Insider Buying and Selling

In other GoDaddy news, CAO Phontip Palitwanon sold 2,173 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $177.87, for a total value of $386,511.51. Following the completion of the transaction, the chief accounting officer owned 21,198 shares in the company, valued at approximately $3,770,488.26. This represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of the company's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $169.59, for a total transaction of $169,590.00. Following the completion of the transaction, the chief operating officer owned 253,949 shares of the company's stock, valued at approximately $43,067,210.91. This trade represents a 0.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,757 shares of company stock valued at $12,243,920 in the last 90 days. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Cornerstone Planning Group LLC raised its position in shares of GoDaddy by 123.4% in the first quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company's stock worth $25,000 after acquiring an additional 79 shares during the period. Park Square Financial Group LLC acquired a new position in shares of GoDaddy during the 1st quarter worth about $27,000. Private Trust Co. NA raised its position in shares of GoDaddy by 591.3% during the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock worth $29,000 after purchasing an additional 136 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of GoDaddy during the 1st quarter worth about $30,000. Finally, Banque Transatlantique SA acquired a new position in shares of GoDaddy during the 1st quarter worth about $36,000. Institutional investors and hedge funds own 90.28% of the company's stock.

GoDaddy Trading Down 0.6%

NYSE:GDDY traded down $1.01 during mid-day trading on Thursday, reaching $166.12. 1,964,736 shares of the company's stock traded hands, compared to its average volume of 1,305,281. GoDaddy has a 12-month low of $140.11 and a 12-month high of $216.00. The firm has a market capitalization of $23.67 billion, a price-to-earnings ratio of 31.95 and a beta of 1.05. The company has a debt-to-equity ratio of 18.91, a current ratio of 0.56 and a quick ratio of 0.56. The company has a 50 day moving average price of $177.82 and a 200-day moving average price of $183.18.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing analysts' consensus estimates of $1.35 by ($0.08). The firm had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.19 billion. GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. The firm's revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $2.76 EPS. On average, sell-side analysts predict that GoDaddy will post 6.63 earnings per share for the current year.

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.