GoDaddy (NYSE:GDDY) Stock Rating Reaffirmed by Benchmark

Benchmark reissued their buy rating on shares of GoDaddy (NYSE:GDDY) in a research report report published on Wednesday, Benzinga reports. They currently have a $150.00 price target on the technology company’s stock.

A number of other brokerages also recently weighed in on GDDY. Morgan Stanley upped their price objective on shares of GoDaddy from $120.00 to $132.00 and gave the stock an equal weight rating in a research report on Thursday, March 14th. B. Riley increased their price target on GoDaddy from $124.00 to $142.00 and gave the stock a buy rating in a research report on Thursday, March 7th. Robert W. Baird boosted their price objective on GoDaddy from $130.00 to $150.00 and gave the company an outperform rating in a research report on Monday, March 25th. UBS Group increased their target price on GoDaddy from $110.00 to $118.00 and gave the company a neutral rating in a research report on Wednesday, February 14th. Finally, Raymond James began coverage on shares of GoDaddy in a report on Wednesday, March 27th. They issued a strong-buy rating and a $150.00 price target for the company. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, GoDaddy currently has an average rating of Moderate Buy and a consensus price target of $142.73.

GoDaddy Stock Performance

NYSE GDDY opened at $123.64 on Wednesday. GoDaddy has a fifty-two week low of $67.43 and a fifty-two week high of $127.99. The company has a debt-to-equity ratio of 61.07, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market capitalization of $17.62 billion, a P/E ratio of 10.27 and a beta of 1.09. The stock has a 50-day simple moving average of $119.99 and a two-hundred day simple moving average of $106.65.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.05. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a negative return on equity of 102.82% and a net margin of 40.38%. On average, equities analysts forecast that GoDaddy will post 4.93 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 59,608 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $6,589,068.32. Following the completion of the sale, the chief executive officer now directly owns 394,423 shares in the company, valued at $43,599,518.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Amanpal Singh Bhutani sold 59,608 shares of GoDaddy stock in a transaction on Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $6,589,068.32. Following the transaction, the chief executive officer now owns 394,423 shares in the company, valued at approximately $43,599,518.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $122.60, for a total transaction of $490,400.00. Following the completion of the sale, the chief operating officer now directly owns 200,632 shares of the company’s stock, valued at approximately $24,597,483.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,234 shares of company stock worth $14,025,346. Insiders own 0.54% of the company’s stock.

Institutional Trading of GoDaddy

Institutional investors have recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in GoDaddy during the fourth quarter worth $28,000. GAMMA Investing LLC raised its holdings in GoDaddy by 102.3% in the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after buying an additional 133 shares during the period. Frazier Financial Advisors LLC acquired a new position in GoDaddy in the fourth quarter valued at about $33,000. Massmutual Trust Co. FSB ADV boosted its stake in GoDaddy by 140.4% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock worth $37,000 after buying an additional 205 shares during the period. Finally, Fifth Third Bancorp acquired a new stake in shares of GoDaddy during the third quarter valued at about $43,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

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.