GoDaddy (NYSE:GDDY) Stock Price Up 1.6% – Time to Buy?

GoDaddy Inc. (NYSE:GDDY) rose 1.6% during mid-day trading on Monday . The company traded as high as $210.19 and last traded at $210.17. Approximately 170,829 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,454,614 shares. The stock had previously closed at $206.78.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Barclays lifted their target price on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group upped their price objective on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Robert W. Baird increased their target price on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Benchmark boosted their price target on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, B. Riley increased their price objective on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $181.57.

GoDaddy Stock Down 3.5 %

The firm has a market cap of $28.10 billion, a price-to-earnings ratio of 15.47 and a beta of 1.15. The stock’s 50 day moving average is $182.65 and its 200 day moving average is $161.56. 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 (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $0.89 EPS. Analysts forecast that GoDaddy Inc. will post 4.96 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total transaction of $466,800.00. Following the completion of the sale, the chief executive officer now directly owns 348,956 shares of the company’s stock, valued at $54,297,553.60. This trade represents a 0.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total value of $855,800.00. Following the sale, the chief financial officer now directly owns 93,102 shares in the company, valued at $14,486,671.20. This trade represents a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,503 shares of company stock worth $3,950,683. 0.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. grew its holdings in shares of GoDaddy by 35.6% during the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after buying an additional 394,399 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in GoDaddy by 2,279.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock valued at $62,908,000 after acquiring an additional 384,386 shares in the last quarter. Mizuho Securities USA LLC increased its holdings in shares of GoDaddy by 3,227.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock valued at $56,709,000 after purchasing an additional 350,839 shares during the period. FMR LLC lifted its position in shares of GoDaddy by 19.8% in the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after purchasing an additional 274,014 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of GoDaddy by 37.7% in the second quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock worth $120,305,000 after purchasing an additional 235,934 shares in the last quarter. 90.28% of the stock is 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.