Piper Sandler cuts GoDaddy (NYSE:GDDY) price target to $100.00

GoDaddy (NYSE: GDDY – Rated) In a report published Friday, Piper Sandler lowered its price target to $100.00 from $110.00, Benzinga reported. The brokerage currently has an “overweight” rating on the tech company’s stock. Piper Sandler’s price target would indicate a potential upside of 37.65% from the stock’s current price.

GDDY has been the subject of many other research reports. Evercore ISI raised its price target on GoDaddy stock to $91.00 in a research note on Tuesday, Aug. 9. Morgan Stanley raised its price target on GoDaddy to $93.00 from $91.00 in a research note on Thursday, Aug. 4, with an “equal weight” rating on the stock. Raymond James cut his price target on GoDaddy stock to $88.00 from $100.00 and gave the company a “strong buy” rating in a research note on Friday. StockNews.com began covering GoDaddy in a research report on Wednesday, October 12. They have a “buy” rating on the stock. Finally, Barclays raised its price target on GoDaddy stock to $107.00 from $104.00 in a research note on Thursday, Aug. 4, and gave the company an “overweight” rating. One analyst has a hold rating on the stock, four analysts have a buy rating on the company, and one analyst has a strong buy rating on the company. The company currently has an average Buy rating and an average price target of $97.86, according to MarketBeat.

GoDaddy trades down 1.4%

On Friday, GDDY stock opened at $72.65. GoDaddy had a twelve-month low of $64.81 and a twelve-month high of $88.32. The stock has a market cap of $11.38 billion, a price-to-earnings ratio of 35.10, a price-to-earnings ratio of 2.40, and a beta of 0.95. The stock has a 50-day moving average of $75.30 and a 200-day moving average of $75.01.

GoDaddy (NYSE: GDDY – Get Rating) last released its earnings results on Wednesday, August 3rd. The tech company reported earnings per share (EPS) of $0.56 for the quarter, beating the consensus estimate of $0.47 by $0.09. GoDaddy has a net profit margin of 8.58% and a return on equity of 147.44%. The company’s revenue for the quarter was $1.02 billion, compared with analysts’ expectations of $1.02 billion. On average, research analysts forecast GoDaddy earnings per share of 2.2 this fiscal year.

Insider Activities

In other GoDaddy news, CAO Nick Daddario sold 600 shares of the company in a deal that took place on Monday, August 15. The stock sold at an average price of $82.00 for a total value of $49,200.00. After the sale, the chief accounting officer now owns 15,608 shares of the company’s stock, worth $1,279,856. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. In other GoDaddy news, CAO Nick Daddario sold 600 shares of the company in trading on Monday, August 15. Shares sold at an average price of $82.00 for a total volume of $49,200.00. Following the sale, the chief accounting officer now directly owns 15,608 shares of the company, valued at $1,279,856. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Additionally, CFO Mark McCcaffrey sold 2,700 shares of the company in trading on Wednesday, September 7. Shares sold at an average price of $73.56 for a total transaction value of $198,612.00. Following the transaction, the CFO now directly owns 82,250 shares of the company’s stock, worth approximately $6,050,310. Disclosures for this sale can be found here. Over the past three months, insiders have sold 6,202 shares of the company, worth $464,040. Company insiders own 0.37% of the company.

Institutional inflows and outflows

Institutional investors and hedge funds have recently shifted their positions in the business. Park Avenue Securities LLC increased its stake in GoDaddy by 2.0% in the third quarter. Park Avenue Securities LLC now owns 7,120 shares of the tech company’s stock, valued at $505,000, after buying an additional 139 shares in the previous quarter. Ieq Capital LLC increased its position in GoDaddy by 4.6% in the third quarter. Ieq Capital LLC now owns 3,247 shares of the tech company’s stock, worth $230,000, after buying an additional 143 shares in the previous quarter. Quadrant Capital Group LLC increased its stake in GoDaddy by 23.3% in the first quarter. Quadrant Capital Group LLC now owns 947 shares of the tech company’s stock, worth $79,000, after buying an additional 179 shares in the previous quarter. Tokio Marine Asset Management Co. Ltd. increased its position in GoDaddy stock by 3.9% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,279 shares of the tech company’s stock, worth $367,000, after buying an additional 200 shares in the previous quarter. Finally, Tobam ​​increased its position in GoDaddy stock by 31.7% in the first quarter. After buying an additional 210 shares during this period, Tobam ​​now owns 872 shares of the tech company’s stock, worth $73,000. 96.50% of the stock is owned by institutional investors and hedge funds.

About GoDaddy

(get a rating)

GoDaddy Inc designs and develops cloud-based technology products in the United States and internationally. The company offers domain registration products that can attract customers in the initial stages of establishing a digital identity. It also offers shared website hosting products that offer a variety of applications and products such as web analytics, Secure Sockets Layer certificates, and WordPress; websites hosted on virtual private servers and virtual private server products, allowing customers to choose the applications, requirements, and growing server configurations; managed products, which are used to set up, monitor, maintain, secure and patch software and servers for customers; and security products, a suite of tools designed to help protect customers’ online presence.

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