GoDaddy Inc. (NYSE:GDDY) Receives $187.71 Consensus Target Price from Analysts

GoDaddy Inc. (NYSE:GDDY) has been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $187.71.

Several brokerages have weighed in on GDDY. JPMorgan Chase & Co. lifted their price objective on GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Benchmark boosted their price target on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group increased 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. Citigroup boosted their target price on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th.

GoDaddy Trading Down 1.9 %

GDDY stock opened at $195.58 on Friday. GoDaddy has a 52 week low of $100.43 and a 52 week high of $211.11. The company has a market capitalization of $27.46 billion, a PE ratio of 15.11 and a beta of 1.15. The company’s 50-day simple moving average is $193.67 and its 200 day simple moving average is $167.80. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56.

GoDaddy (NYSE:GDDY) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the business posted $0.89 EPS. The business’s revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that GoDaddy will post 4.96 earnings per share for the current year.

Insiders Place Their Bets

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $164.16, for a total value of $164,160.00. Following the completion of the transaction, the chief operating officer now directly owns 186,632 shares in the company, valued at approximately $30,637,509.12. This represents a 0.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $597,030.00. Following the completion of the sale, the chief executive officer now directly owns 333,153 shares in the company, valued at approximately $66,300,778.53. This represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,003 shares of company stock valued at $4,626,523 in the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

A number of hedge funds have recently made changes to their positions in GDDY. Range Financial Group LLC boosted its position in GoDaddy by 71.0% during the fourth quarter. Range Financial Group LLC now owns 2,214 shares of the technology company’s stock valued at $437,000 after acquiring an additional 919 shares during the last quarter. Canandaigua National Bank & Trust Co. bought a new position in shares of GoDaddy during the 4th quarter worth approximately $233,000. CWA Asset Management Group LLC grew its position in shares of GoDaddy by 29.2% during the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock worth $3,172,000 after buying an additional 3,631 shares during the period. Pensionfund Sabic increased its stake in shares of GoDaddy by 41.7% in the 4th quarter. Pensionfund Sabic now owns 8,500 shares of the technology company’s stock valued at $1,678,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of GoDaddy by 2.4% during the 4th quarter. Nordea Investment Management AB now owns 12,804 shares of the technology company’s stock valued at $2,530,000 after acquiring an additional 303 shares during the period. 90.28% of the stock is currently owned by institutional investors.

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.