GoDaddy Inc. (NYSE:GDDY) Receives $181.57 Consensus Price Target from Analysts

GoDaddy Inc. (NYSE:GDDY) has been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are covering the firm, Marketbeat Ratings reports. Five equities research 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 company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $181.57.

A number of research analysts have recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Piper Sandler upped their price objective on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Barclays raised their target price on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Robert W. Baird upped their price target on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, Jefferies Financial Group lifted their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th.

GoDaddy Stock Performance

NYSE GDDY opened at $206.73 on Wednesday. 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 has a twelve month low of $99.90 and a twelve month high of $210.30. The business has a 50-day moving average price of $180.63 and a 200-day moving average price of $160.28. The firm has a market cap of $29.02 billion, a price-to-earnings ratio of 15.98 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm posted $0.89 EPS. The company’s revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts predict that GoDaddy will post 4.96 EPS for the current fiscal year.

Insider Transactions at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $152.17, for a total value of $152,170.00. Following the completion of the sale, the chief operating officer now directly owns 187,632 shares in the company, valued at $28,551,961.44. The trade was a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Phontip Palitwanon sold 1,554 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $203.90, for a total transaction of $316,860.60. Following the transaction, the chief accounting officer now owns 21,505 shares in the company, valued at approximately $4,384,869.50. The trade was a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,503 shares of company stock valued at $4,102,853. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GoDaddy

A number of large investors have recently made changes to their positions in the stock. Federated Hermes Inc. boosted its position in GoDaddy by 35.6% in the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after buying an additional 394,399 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of GoDaddy by 2,279.5% during the third quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock worth $62,908,000 after purchasing an additional 384,386 shares during the last quarter. Mizuho Securities USA LLC lifted its position in GoDaddy by 3,227.3% during the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock valued at $56,709,000 after purchasing an additional 350,839 shares during the period. FMR LLC lifted its position in GoDaddy by 19.8% during the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock valued at $260,299,000 after purchasing an additional 274,014 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of GoDaddy by 37.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock valued at $120,305,000 after buying an additional 235,934 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

About GoDaddy

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.