GoDaddy (NYSE:GDDY) Shares Up 0.6% on Analyst Upgrade

GoDaddy Inc. (NYSE:GDDY)’s share price rose 0.6% during trading on Wednesday after Robert W. Baird raised their price target on the stock from $200.00 to $225.00. Robert W. Baird currently has an outperform rating on the stock. GoDaddy traded as high as $189.86 and last traded at $188.50. Approximately 285,973 shares were traded during trading, a decline of 80% from the average daily volume of 1,455,477 shares. The stock had previously closed at $187.40.

Several other research firms have also weighed in on GDDY. Raymond James upped their target price on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Royal Bank of Canada increased their price objective on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Piper Sandler lifted their target price on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Finally, B. Riley lifted 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. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $173.31.

Insider Transactions at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the sale, the chief financial officer now directly owns 101,286 shares of the company’s stock, valued at $16,686,868.50. This trade represents a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Nick Daddario sold 684 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total value of $107,545.32. Following the transaction, the chief accounting officer now owns 17,704 shares of the company’s stock, valued at approximately $2,783,599.92. This represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,845 shares of company stock valued at $4,803,380. Insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. TD Private Client Wealth LLC boosted its holdings in shares of GoDaddy by 7.0% in the third quarter. TD Private Client Wealth LLC now owns 8,197 shares of the technology company’s stock worth $1,285,000 after buying an additional 539 shares during the period. Coldstream Capital Management Inc. bought a new stake in shares of GoDaddy during the 3rd quarter worth about $314,000. Geode Capital Management LLC grew its stake in GoDaddy by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock valued at $535,153,000 after buying an additional 84,550 shares during the last quarter. Vestcor Inc increased its position in GoDaddy by 1,156.5% in the 3rd quarter. Vestcor Inc now owns 31,249 shares of the technology company’s stock worth $4,899,000 after buying an additional 28,762 shares during the period. Finally, M&T Bank Corp raised its position in shares of GoDaddy by 1.5% during the third quarter. M&T Bank Corp now owns 9,539 shares of the technology company’s stock valued at $1,496,000 after buying an additional 145 shares during the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Stock Performance

The stock has a market capitalization of $26.69 billion, a P/E ratio of 14.57 and a beta of 1.11. The firm has a 50-day moving average of $164.16 and a 200 day moving average of $152.29. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

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