GoDaddy Inc. (NYSE:GDDY) Given Average Rating of “Moderate Buy” by Analysts

GoDaddy Inc. (NYSE:GDDY) has been assigned an average recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $181.57.

GDDY has been the subject of several research reports. Jefferies Financial Group upped their target price on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. upped their target price on GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. B. Riley increased their price objective on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Piper Sandler increased their price objective on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th.

Insider Buying and Selling

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total value of $466,800.00. Following the completion of the transaction, the chief executive officer now owns 348,956 shares in the company, valued at approximately $54,297,553.60. This represents a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Sharples sold 500 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $197.77, for a total value of $98,885.00. Following the completion of the transaction, the director now owns 23,621 shares of the company’s stock, valued at approximately $4,671,525.17. This trade represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,949 shares of company stock valued at $3,785,993 over the last quarter. 0.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On GoDaddy

Institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in GoDaddy by 3.4% in the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after purchasing an additional 6,424 shares in the last quarter. Highland Capital Management LLC bought a new position in shares of GoDaddy during the third quarter valued at $1,132,000. Swedbank AB increased its holdings in shares of GoDaddy by 3.5% during the second quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock valued at $21,425,000 after acquiring an additional 5,247 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of GoDaddy by 28.0% during the third quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock valued at $6,907,000 after acquiring an additional 9,631 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd increased its holdings in shares of GoDaddy by 39.6% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock valued at $9,410,000 after acquiring an additional 17,021 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Up 0.8 %

Shares of GDDY opened at $204.93 on Wednesday. The firm has a market cap of $28.77 billion, a P/E ratio of 15.84 and a beta of 1.15. The stock has a 50 day simple moving average of $177.46 and a two-hundred day simple moving average of $159.13. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. GoDaddy has a 1 year low of $99.90 and a 1 year high of $210.30.

GoDaddy (NYSE:GDDY) last issued its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. GoDaddy’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 earnings per share. On average, analysts forecast that GoDaddy will post 4.95 earnings per share for the current fiscal year.

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.