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

GoDaddy Inc. (NYSE:GDDY) has been given an average rating of “Moderate Buy” by the fourteen ratings firms that are currently covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $214.86.

A number of research firms have commented on GDDY. JPMorgan Chase & Co. increased their price objective on shares of GoDaddy from $231.00 to $240.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. Barclays cut their price objective on shares of GoDaddy from $243.00 to $235.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. Wall Street Zen downgraded shares of GoDaddy from a “buy” rating to a “hold” rating in a report on Tuesday, May 13th. Piper Sandler increased their price objective on shares of GoDaddy from $177.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Finally, Benchmark reiterated a “buy” rating on shares of GoDaddy in a report on Monday, April 28th.

GoDaddy Trading Down 0.2%

Shares of GoDaddy stock opened at $181.64 on Wednesday. The firm has a market capitalization of $25.88 billion, a PE ratio of 28.16 and a beta of 1.13. GoDaddy has a twelve month low of $135.73 and a twelve month high of $216.00. The firm’s 50-day moving average price is $179.28 and its 200 day moving average price is $189.50. 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 (NYSE:GDDY) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.76 EPS. On average, sell-side analysts predict that GoDaddy will post 6.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $188.21, for a total value of $188,210.00. Following the completion of the transaction, the chief operating officer now owns 255,949 shares in the company, valued at $48,172,161.29. The trade was a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total transaction of $989,175.00. Following the completion of the transaction, the chief financial officer now owns 115,375 shares of the company’s stock, valued at approximately $20,750,193.75. This trade represents a 4.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 53,026 shares of company stock worth $9,611,406 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Institutional investors have recently modified their holdings of the company. Cornerstone Planning Group LLC lifted its position in shares of GoDaddy by 123.4% during the 1st quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company’s stock worth $25,000 after purchasing an additional 79 shares during the last quarter. Park Square Financial Group LLC purchased a new stake in shares of GoDaddy during the 1st quarter worth $27,000. Private Trust Co. NA lifted its position in shares of GoDaddy by 591.3% during the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company’s stock worth $29,000 after purchasing an additional 136 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of GoDaddy during the 1st quarter worth $30,000. Finally, Banque Transatlantique SA purchased a new stake in shares of GoDaddy during the 1st quarter worth $36,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

About GoDaddy

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.