Royal Bank Of Canada Reiterates “Outperform” Rating for GoDaddy (NYSE:GDDY)

GoDaddy (NYSE:GDDYGet Free Report)‘s stock had its “outperform” rating restated by equities research analysts at Royal Bank Of Canada in a report released on Monday,Benzinga reports. They currently have a $225.00 price target on the technology company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 25.28% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Citigroup cut their target price on GoDaddy from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Benchmark reissued a “buy” rating on shares of GoDaddy in a report on Monday, April 28th. Wall Street Zen cut shares of GoDaddy from a “buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Morgan Stanley cut their target price on GoDaddy from $228.00 to $206.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Finally, Piper Sandler raised their price objective on shares of GoDaddy from $177.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and an average target price of $214.86.

View Our Latest Report on GoDaddy

GoDaddy Stock Up 1.3%

Shares of NYSE:GDDY opened at $179.59 on Monday. GoDaddy has a 52-week low of $138.22 and a 52-week high of $216.00. The stock has a market cap of $25.59 billion, a P/E ratio of 34.54 and a beta of 1.07. The business has a fifty day moving average of $181.02 and a two-hundred day moving average of $187.49. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 18.91.

GoDaddy (NYSE:GDDYGet Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 earnings per share 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 16.20% and a return on equity of 211.09%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.76 EPS. On average, research analysts expect that GoDaddy will post 6.63 earnings per share for the current year.

Insider Activity at GoDaddy

In other GoDaddy news, CAO Phontip Palitwanon sold 2,173 shares of the company’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $177.87, for a total transaction of $386,511.51. Following the completion of the sale, the chief accounting officer now directly owns 21,198 shares of the company’s stock, valued at approximately $3,770,488.26. This represents a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $175.96, for a total transaction of $175,960.00. Following the completion of the transaction, the chief operating officer now directly owns 254,949 shares in the company, valued at approximately $44,860,826.04. This trade represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,632 shares of company stock valued at $12,602,635 over the last ninety days. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Several hedge funds have recently made changes to their positions in GDDY. Advisors Capital Management LLC grew its position in GoDaddy by 0.9% during the 4th quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company’s stock worth $1,223,000 after purchasing an additional 55 shares in the last quarter. BNP Paribas lifted its holdings in shares of GoDaddy by 2.9% in the fourth quarter. BNP Paribas now owns 2,111 shares of the technology company’s stock valued at $417,000 after purchasing an additional 59 shares in the last quarter. City Holding Co. boosted its position in shares of GoDaddy by 30.0% in the first quarter. City Holding Co. now owns 260 shares of the technology company’s stock worth $47,000 after buying an additional 60 shares during the period. Lake Street Advisors Group LLC grew its holdings in shares of GoDaddy by 4.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock valued at $283,000 after buying an additional 64 shares in the last quarter. Finally, Equitable Trust Co. raised its position in GoDaddy by 1.0% during the first quarter. Equitable Trust Co. now owns 6,657 shares of the technology company’s stock valued at $1,199,000 after buying an additional 64 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Company Profile

(Get Free Report)

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.

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