GoDaddy (NYSE:GDDY) Sets New 12-Month High at $165.55

GoDaddy Inc. (NYSE:GDDY) shares hit a new 52-week high on Tuesday . The company traded as high as $165.55 and last traded at $164.13, with a volume of 38970 shares changing hands. The stock had previously closed at $163.94.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GDDY shares. Royal Bank of Canada increased their price objective on shares of GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Morgan Stanley lifted their price target on GoDaddy from $132.00 to $137.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Evercore ISI upped their price objective on GoDaddy from $110.00 to $135.00 and gave the stock an “in-line” rating in a research report on Friday, May 3rd. Piper Sandler lifted their target price on GoDaddy from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, B. Riley upped their price target on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $161.25.

GoDaddy Stock Performance

The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.55. The stock has a 50-day moving average price of $145.78 and a 200-day moving average price of $131.18. The company has a market capitalization of $23.31 billion, a price-to-earnings ratio of 13.65 and a beta of 1.14.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. GoDaddy had a negative return on equity of 363.95% and a net margin of 41.12%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $0.63 earnings per share. As a group, analysts forecast that GoDaddy Inc. will post 4.81 earnings per share for the current year.

Insider Activity

In related news, Director Sigal Zarmi sold 400 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, the director now directly owns 4,661 shares in the company, valued at $734,620.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other GoDaddy news, CFO Mark Mccaffrey sold 3,000 shares of GoDaddy stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $140.13, for a total value of $420,390.00. Following the completion of the transaction, the chief financial officer now directly owns 109,473 shares of the company’s stock, valued at approximately $15,340,451.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sigal Zarmi sold 400 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the sale, the director now directly owns 4,661 shares in the company, valued at $734,620.21. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,413 shares of company stock valued at $6,931,096. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On GoDaddy

Several institutional investors and hedge funds have recently bought and sold shares of GDDY. V Square Quantitative Management LLC acquired a new stake in shares of GoDaddy during the 4th quarter worth approximately $28,000. Transcendent Capital Group LLC bought a new position in shares of GoDaddy in the 2nd quarter valued at $28,000. GAMMA Investing LLC raised its holdings in shares of GoDaddy by 102.3% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after buying an additional 133 shares in the last quarter. ORG Partners LLC bought a new stake in shares of GoDaddy during the 2nd quarter worth $32,000. Finally, Frazier Financial Advisors LLC bought a new position in GoDaddy in the fourth quarter valued at about $33,000. Institutional investors own 90.28% of the company’s stock.

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.