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

Shares of GoDaddy Inc. (NYSE:GDDY) have earned an average rating of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, MarketBeat.com reports. Five 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 price objective among analysts that have issued a report on the stock in the last year is $181.57.

GDDY has been the subject of several analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Barclays lifted their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Piper Sandler boosted their price target on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. 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, JPMorgan Chase & Co. lifted their price objective on shares of GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th.

GoDaddy Price Performance

NYSE:GDDY opened at $204.93 on Wednesday. The firm has a market cap of $28.77 billion, a price-to-earnings ratio of 15.84 and a beta of 1.15. 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 has a 52 week low of $99.90 and a 52 week high of $210.30. The firm’s 50-day simple moving average is $177.46 and its 200 day simple moving average is $159.13.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data 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. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.89 earnings per share. As a group, sell-side analysts predict that GoDaddy will post 4.95 earnings per share for the current year.

Insider Activity at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $179.00, for a total value of $89,500.00. Following the sale, the director now directly owns 24,121 shares in the company, valued at approximately $4,317,659. The trade was a 2.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark Mccaffrey sold 2,678 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total value of $526,601.92. Following the completion of the sale, the chief financial officer now owns 89,800 shares in the company, valued at $17,658,272. This represents a 2.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,949 shares of company stock worth $3,785,993. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Several hedge funds and other institutional investors have recently modified their holdings of GDDY. Cetera Investment Advisers increased its position in shares of GoDaddy by 365.9% during the first quarter. Cetera Investment Advisers now owns 16,198 shares of the technology company’s stock valued at $1,922,000 after buying an additional 12,721 shares during the period. V Square Quantitative Management LLC increased its position in shares of GoDaddy by 485.4% in the second quarter. V Square Quantitative Management LLC now owns 1,528 shares of the technology company’s stock worth $213,000 after purchasing an additional 1,267 shares during the last quarter. ORG Partners LLC bought a new position in shares of GoDaddy in the second quarter worth approximately $32,000. Cigna Investments Inc. New bought a new position in shares of GoDaddy in the second quarter worth approximately $207,000. Finally, Swedbank AB increased its position in shares of GoDaddy by 3.5% in the second quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock worth $21,425,000 after purchasing an additional 5,247 shares during the last quarter. 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.