GoDaddy (NYSE:GDDY) Given New $135.00 Price Target at Evercore ISI

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

Several other equities research analysts have also weighed in on GDDY. JPMorgan Chase & Co. lifted their price objective on GoDaddy from $128.00 to $136.00 and gave the stock an overweight rating in a report on Tuesday, April 2nd. Piper Sandler upped their price target on shares of GoDaddy from $130.00 to $145.00 and gave the company an overweight rating in a research note on Thursday, March 7th. UBS Group raised their price objective on shares of GoDaddy from $110.00 to $118.00 and gave the stock a neutral rating in a report on Wednesday, February 14th. StockNews.com raised shares of GoDaddy from a buy rating to a strong-buy rating in a report on Wednesday, February 14th. Finally, Barclays raised their price target on GoDaddy from $130.00 to $150.00 and gave the stock an overweight rating in a report on Friday. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, GoDaddy currently has an average rating of Moderate Buy and a consensus price target of $142.73.

GoDaddy Stock Performance

GDDY traded down $0.69 during trading on Friday, hitting $123.64. 2,261,279 shares of the company traded hands, compared to its average volume of 1,217,650. The firm has a market cap of $17.62 billion, a P/E ratio of 10.27 and a beta of 1.09. 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 one year low of $67.43 and a one year high of $127.99. The stock’s fifty day moving average is $119.99 and its 200 day moving average is $106.44.

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

Insider Buying and Selling

In other GoDaddy news, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $114.11, for a total value of $456,440.00. Following the completion of the transaction, the chief operating officer now owns 208,632 shares of the company’s stock, valued at approximately $23,806,997.52. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Mark Mccaffrey sold 624 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total transaction of $75,397.92. Following the transaction, the chief financial officer now directly owns 116,328 shares in the company, valued at approximately $14,055,912.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Chen sold 4,000 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 value of $456,440.00. Following the completion of the sale, the chief operating officer now owns 208,632 shares of the company’s stock, valued at approximately $23,806,997.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,234 shares of company stock worth $14,025,346. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GDDY. V Square Quantitative Management LLC bought a new position in GoDaddy during the 4th quarter worth approximately $28,000. GAMMA Investing LLC increased its stake in shares of GoDaddy by 102.3% in 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 during the period. Frazier Financial Advisors LLC purchased a new position in shares of GoDaddy in the fourth quarter worth $33,000. Massmutual Trust Co. FSB ADV raised its holdings in GoDaddy by 140.4% during the 4th 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 during the last quarter. Finally, Fifth Third Bancorp purchased a new stake in GoDaddy during the 3rd quarter valued at $43,000. 90.28% of the stock is owned by institutional investors.

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.