GoDaddy (NYSE:GDDY) Reaches New 1-Year High – Time to Buy?

Shares of GoDaddy Inc. (NYSE:GDDY) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $190.95 and last traded at $190.95, with a volume of 1201 shares traded. The stock had previously closed at $190.12.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GDDY. Raymond James boosted their price objective on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada boosted their price target on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, November 1st. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Benchmark upped their target price on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a research report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $173.31.

GoDaddy Stock Performance

The firm’s fifty day simple moving average is $165.74 and its 200 day simple moving average is $152.83. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $27.57 billion, a PE ratio of 14.93 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. GoDaddy’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $0.89 EPS. On average, research analysts predict that GoDaddy Inc. will post 4.95 EPS for the current year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the completion of the sale, the chief financial officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $183.80, for a total transaction of $183,800.00. Following the completion of the sale, the chief operating officer now directly owns 185,632 shares in the company, valued at $34,119,161.60. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,845 shares of company stock worth $4,803,380. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GDDY. UniSuper Management Pty Ltd lifted its stake in GoDaddy by 72.7% in the first quarter. UniSuper Management Pty Ltd now owns 1,900 shares of the technology company’s stock worth $225,000 after acquiring an additional 800 shares during the last quarter. Epoch Investment Partners Inc. increased its stake in GoDaddy by 3.1% in the 1st quarter. Epoch Investment Partners Inc. now owns 433,983 shares of the technology company’s stock valued at $51,505,000 after buying an additional 13,136 shares during the period. Lazard Asset Management LLC increased its stake in GoDaddy by 2.0% in the 1st quarter. Lazard Asset Management LLC now owns 330,776 shares of the technology company’s stock valued at $39,256,000 after buying an additional 6,598 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of GoDaddy by 94.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after purchasing an additional 1,775,708 shares during the period. Finally, Caxton Associates LP grew its stake in shares of GoDaddy by 48.4% during the 1st quarter. Caxton Associates LP now owns 28,367 shares of the technology company’s stock worth $3,367,000 after purchasing an additional 9,250 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

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.