GoDaddy Inc. (NYSE:GDDY) Given Average Rating of “Moderate Buy” by Analysts

Shares of GoDaddy Inc. (NYSE:GDDY) have been given an average recommendation of “Moderate Buy” by the fifteen brokerages that are covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $125.5714.

A number of brokerages have recently commented on GDDY. Benchmark dropped their target price on shares of GoDaddy from $240.00 to $210.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of GoDaddy in a research report on Wednesday, January 28th. Citigroup dropped their price objective on shares of GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Jefferies Financial Group cut their price objective on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating on the stock in a report on Monday, February 23rd. Finally, Evercore set a $95.00 target price on shares of GoDaddy in a research note on Wednesday, February 25th.

GoDaddy Trading Up 2.4%

GDDY opened at $81.86 on Tuesday. The stock has a market cap of $10.92 billion, a PE ratio of 13.14, a PEG ratio of 0.71 and a beta of 0.96. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 17.50. The business has a 50 day moving average of $91.02 and a 200-day moving average of $115.67. GoDaddy has a 52 week low of $73.06 and a 52 week high of $193.55.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Tuesday, February 24th. The technology company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.22. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. GoDaddy had a return on equity of 369.00% and a net margin of 17.67%.The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.36 earnings per share. Equities research analysts predict that GoDaddy will post 6.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Mark Mccaffrey sold 17,406 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total transaction of $1,548,959.94. Following the completion of the transaction, the chief financial officer owned 113,003 shares of the company’s stock, valued at $10,056,136.97. This trade represents a 13.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leah Sweet sold 650 shares of GoDaddy stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $86.86, for a total value of $56,459.00. Following the transaction, the director owned 11,414 shares of the company’s stock, valued at $991,420.04. The trade was a 5.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 61,918 shares of company stock worth $5,500,469. 0.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GoDaddy

Several large investors have recently modified their holdings of GDDY. Vanguard Group Inc. grew its position in GoDaddy by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 18,912,182 shares of the technology company’s stock valued at $2,587,754,000 after purchasing an additional 150,045 shares during the last quarter. WCM Investment Management LLC raised its holdings in GoDaddy by 1.8% in the third quarter. WCM Investment Management LLC now owns 3,736,821 shares of the technology company’s stock worth $529,395,000 after buying an additional 66,144 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in GoDaddy by 47.0% in the third quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock worth $483,360,000 after buying an additional 1,128,646 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of GoDaddy by 11.0% in the fourth quarter. JPMorgan Chase & Co. now owns 3,216,382 shares of the technology company’s stock worth $399,089,000 after buying an additional 319,515 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of GoDaddy by 117.5% in the fourth quarter. AQR Capital Management LLC now owns 2,989,931 shares of the technology company’s stock worth $370,991,000 after buying an additional 1,615,005 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.