GoDaddy (NYSE:GDDY) Given Buy Rating at Benchmark

GoDaddy (NYSE:GDDY - Get Free Report)'s stock had its "buy" rating restated by investment analysts at Benchmark in a report released on Wednesday, Benzinga reports. They currently have a $150.00 target price on the technology company's stock. Benchmark's price target points to a potential upside of 22.62% from the stock's current price.

Other analysts have also recently issued reports about the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $124.00 target price on shares of GoDaddy in a research note on Thursday, March 7th. UBS Group lifted their target price on shares of GoDaddy from $110.00 to $118.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 14th. Evercore ISI cut shares of GoDaddy from an "outperform" rating to an "in-line" rating and lifted their target price for the stock from $100.00 to $110.00 in a research note on Wednesday, February 14th. Piper Sandler lifted their target price on shares of GoDaddy from $130.00 to $145.00 and gave the stock an "overweight" rating in a research note on Thursday, March 7th. Finally, 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 price objective for the company. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $135.18.

GoDaddy Stock Down 0.0 %

Shares of GoDaddy stock traded down $0.05 on Wednesday, reaching $122.33. The stock had a trading volume of 1,733,303 shares, compared to its average volume of 1,450,317. The company has a 50 day moving average price of $119.59 and a 200 day moving average price of $105.98. 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 1 year low of $67.43 and a 1 year high of $127.15. The stock has a market capitalization of $17.43 billion, a P/E ratio of 12.77 and a beta of 1.12.

GoDaddy (NYSE:GDDY - Get Free Report) last released its 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. The company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.10 billion. GoDaddy had a net margin of 32.74% and a negative return on equity of 89.25%. As a group, equities research analysts forecast that GoDaddy will post 4.76 EPS for the current year.

Insider Activity

In other news, CFO Mark Mccaffrey sold 624 shares of GoDaddy stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Mark Mccaffrey sold 624 shares of the business'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 sale, the chief financial officer now owns 116,328 shares of the company's stock, valued at approximately $14,055,912.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Nick Daddario sold 1,823 shares of the business's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $201,514.42. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 121,234 shares of company stock valued at $13,534,946 in the last three months. 0.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GoDaddy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gulf International Bank UK Ltd increased its holdings in GoDaddy by 0.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 12,030 shares of the technology company's stock worth $1,427,000 after acquiring an additional 113 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in GoDaddy by 3.9% in the 1st quarter. Sivia Capital Partners LLC now owns 3,023 shares of the technology company's stock worth $359,000 after acquiring an additional 113 shares in the last quarter. Ingalls & Snyder LLC increased its holdings in GoDaddy by 0.3% in the 4th quarter. Ingalls & Snyder LLC now owns 41,923 shares of the technology company's stock worth $4,451,000 after acquiring an additional 120 shares in the last quarter. GAMMA Investing LLC increased its holdings in GoDaddy by 102.3% in the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company's stock worth $31,000 after acquiring an additional 133 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in GoDaddy by 7.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,940 shares of the technology company's stock worth $144,000 after acquiring an additional 137 shares in the last quarter. 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.