GoDaddy Inc. (NYSE:GDDY) Receives Average Rating of “Moderate Buy” from Brokerages

GoDaddy Inc. (NYSE:GDDY) has earned a consensus rating of “Moderate Buy” from the sixteen research firms that are presently covering the company, MarketBeat reports. Six investment 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 1 year target price among brokers that have issued a report on the stock in the last year is $213.20.

A number of brokerages have recently commented on GDDY. UBS Group upped their price target on GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. increased their target price on GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Royal Bank of Canada reissued an “outperform” rating and set a $230.00 target price (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Piper Sandler increased their target price on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Finally, B. Riley increased their target price on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 14th.

Insider Transactions at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $197.77, for a total value of $593,310.00. Following the completion of the sale, the chief executive officer now owns 342,956 shares of the company’s stock, valued at approximately $67,826,408.12. This represents a 0.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark Mccaffrey sold 480 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $201.29, for a total value of $96,619.20. Following the completion of the sale, the chief financial officer now directly owns 83,254 shares of the company’s stock, valued at approximately $16,758,197.66. The trade was a 0.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,482 shares of company stock valued at $4,903,930 in the last ninety days. 0.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GoDaddy

Several hedge funds have recently added to or reduced their stakes in GDDY. Creative Planning lifted its holdings in GoDaddy by 41.6% during the 3rd quarter. Creative Planning now owns 14,187 shares of the technology company’s stock valued at $2,224,000 after purchasing an additional 4,168 shares during the last quarter. Blue Trust Inc. lifted its holdings in GoDaddy by 40.0% during the 3rd quarter. Blue Trust Inc. now owns 763 shares of the technology company’s stock valued at $120,000 after purchasing an additional 218 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in GoDaddy during the 3rd quarter valued at $293,000. Private Advisor Group LLC acquired a new stake in GoDaddy during the 3rd quarter valued at $343,000. Finally, International Assets Investment Management LLC lifted its holdings in GoDaddy by 16,719.2% during the 3rd quarter. International Assets Investment Management LLC now owns 43,898 shares of the technology company’s stock valued at $68,820,000 after purchasing an additional 43,637 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Performance

GoDaddy stock opened at $173.82 on Monday. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. GoDaddy has a 1 year low of $108.38 and a 1 year high of $216.00. The company has a market cap of $24.40 billion, a PE ratio of 26.95 and a beta of 1.15. The company’s 50-day moving average is $201.36 and its two-hundred day moving average is $181.33.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. Equities analysts anticipate that GoDaddy will post 6.63 earnings per share for the current 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.