GoDaddy (NYSE:GDDY) Sets New 52-Week High – Time to Buy?

GoDaddy Inc. (NYSE:GDDY)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company 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.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Royal Bank of Canada boosted their price target on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Robert W. Baird upped their target price on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday. Raymond James upped their target price on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Cantor Fitzgerald restated a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research note on Monday, October 7th. Finally, Piper Sandler upped 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. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and a consensus target price of $173.31.

GoDaddy Price Performance

The firm has a market capitalization of $26.94 billion, a price-to-earnings ratio of 14.84 and a beta of 1.11. The company has a fifty day moving average price of $164.93 and a two-hundred day moving average price of $152.55. 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 issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share 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 firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the company earned $0.89 earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities research analysts expect that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $179.00, for a total value of $89,500.00. Following the completion of the transaction, the director now owns 24,121 shares in the company, valued at $4,317,659. This trade represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $183.80, for a total value of $183,800.00. Following the completion of the transaction, the chief operating officer now owns 185,632 shares of the company’s stock, valued at approximately $34,119,161.60. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,845 shares of company stock valued at $4,803,380. 0.61% of the stock is owned by company insiders.

Institutional Trading of GoDaddy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in GoDaddy by 0.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock worth $2,837,000 after buying an additional 67 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its position in GoDaddy by 4.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock worth $296,000 after acquiring an additional 73 shares in the last quarter. Whittier Trust Co. increased its holdings in GoDaddy by 4.3% during the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock worth $249,000 after purchasing an additional 74 shares during the last quarter. Lindbrook Capital LLC increased its holdings in GoDaddy by 11.3% during the 3rd quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock worth $153,000 after purchasing an additional 99 shares during the last quarter. Finally, Equitable Trust Co. increased its holdings in GoDaddy by 1.3% during the 3rd quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock worth $1,322,000 after purchasing an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

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.