GoDaddy (NYSE:GDDY) PT Raised to $132.00 at Morgan Stanley

GoDaddy (NYSE:GDDY) had its price target increased by Morgan Stanley from $120.00 to $132.00 in a research report report published on Thursday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the technology company’s stock.

GDDY has been the topic of several other research reports. Royal Bank of Canada reissued an outperform rating and set a $124.00 target price on shares of GoDaddy in a report on Thursday, March 7th. StockNews.com raised GoDaddy from a buy rating to a strong-buy rating in a report on Wednesday, February 14th. B. Riley boosted their target price on GoDaddy from $124.00 to $142.00 and gave the stock a buy rating in a report on Thursday, March 7th. Evercore ISI cut GoDaddy from an outperform rating to an in-line rating and boosted their target price for the stock from $100.00 to $110.00 in a report on Wednesday, February 14th. Finally, Benchmark restated a buy rating and issued a $150.00 price target on shares of GoDaddy in a research report on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, GoDaddy has an average rating of Moderate Buy and an average price target of $131.22.

GoDaddy Stock Up 1.9 %

Shares of GoDaddy stock traded up $2.24 during trading hours on Thursday, hitting $119.43. 1,392,939 shares of the company’s stock traded hands, compared to its average volume of 1,611,471. The company has a market cap of $17.02 billion, a PE ratio of 12.47 and a beta of 1.12. GoDaddy has a twelve month low of $67.43 and a twelve month high of $119.75. The stock has a 50 day simple moving average of $110.58 and a 200-day simple moving average of $95.30. 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 (NYSE:GDDY) last posted 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 negative return on equity of 89.25% and a net margin of 32.74%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. Equities research analysts anticipate that GoDaddy will post 4.61 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $105.22, for a total value of $420,880.00. Following the sale, the chief operating officer now owns 153,716 shares of the company’s stock, valued at approximately $16,173,997.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Amanpal Singh Bhutani sold 8,687 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $114.11, for a total transaction of $991,273.57. Following the completion of the sale, the chief executive officer now owns 454,031 shares in the company, valued at $51,809,477.41. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $105.22, for a total transaction of $420,880.00. Following the completion of the sale, the chief operating officer now owns 153,716 shares of the company’s stock, valued at $16,173,997.52. The disclosure for this sale can be found here. Insiders have sold 118,615 shares of company stock valued at $13,157,935 in the last 90 days. 0.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GoDaddy

Hedge funds and other institutional investors have recently made changes to their positions in the business. V Square Quantitative Management LLC acquired a new position in GoDaddy during the fourth quarter valued at approximately $28,000. Achmea Investment Management B.V. acquired a new position in GoDaddy during the first quarter valued at approximately $31,000. Frazier Financial Advisors LLC bought a new stake in shares of GoDaddy during the fourth quarter worth $33,000. Quent Capital LLC grew its stake in shares of GoDaddy by 2,113.6% during the third quarter. Quent Capital LLC now owns 487 shares of the technology company’s stock worth $36,000 after buying an additional 465 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of GoDaddy by 140.4% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock worth $37,000 after buying an additional 205 shares during the last quarter. 95.03% of the stock is currently owned by institutional investors and hedge funds.

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.