GoDaddy (NYSE:GDDY) Stock Price Up 0.8% – Time to Buy?

GoDaddy Inc. (NYSE:GDDY) shares were up 0.8% during trading on Friday . The stock traded as high as $199.99 and last traded at $199.40. Approximately 208,277 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 1,457,568 shares. The stock had previously closed at $197.85.

Wall Street Analyst Weigh In

GDDY has been the subject of a number of research analyst reports. Royal Bank of Canada boosted their target price on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Benchmark upped their target price on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. B. Riley boosted their price target on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $173.31.

GoDaddy Price Performance

The stock has a market cap of $27.74 billion, a P/E ratio of 15.41 and a beta of 1.11. The business has a 50 day simple moving average of $170.11 and a 200-day simple moving average of $155.14. 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 posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion during 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%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.89 earnings per share. On average, sell-side analysts forecast that GoDaddy Inc. will post 4.95 EPS for the current year.

Insider Transactions at GoDaddy

In other news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction dated Monday, November 11th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total transaction of $500,730.00. Following the sale, the chief executive officer now owns 358,773 shares in the company, valued at $59,882,801.43. The trade was a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,345 shares of company stock worth $3,897,255 in the last quarter. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. iA Global Asset Management Inc. grew its position in shares of GoDaddy by 7.6% in the first quarter. iA Global Asset Management Inc. now owns 2,653 shares of the technology company’s stock valued at $315,000 after purchasing an additional 187 shares in the last quarter. Virtu Financial LLC bought a new position in GoDaddy in the 1st quarter valued at $743,000. Swedbank AB purchased a new position in shares of GoDaddy during the 1st quarter valued at $17,577,000. PGGM Investments increased its holdings in shares of GoDaddy by 6.4% in the first quarter. PGGM Investments now owns 46,687 shares of the technology company’s stock worth $5,541,000 after purchasing an additional 2,797 shares during the period. Finally, Cetera Investment Advisers raised its position in shares of GoDaddy by 365.9% in the first quarter. Cetera Investment Advisers now owns 16,198 shares of the technology company’s stock worth $1,922,000 after buying an additional 12,721 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other 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.