GoDaddy (NYSE:GDDY) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of GoDaddy (NYSE:GDDY) from a buy rating to a strong-buy rating in a report published on Thursday morning.

Several other equities analysts also recently commented on the stock. Royal Bank of Canada boosted their target price on shares of GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Benchmark boosted their target price on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday. Piper Sandler boosted their target price on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday. Robert W. Baird boosted their target price on shares of GoDaddy from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, B. Riley boosted their target price on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $171.38.

GoDaddy Stock Performance

GDDY opened at $163.36 on Thursday. The firm has a market cap of $23.03 billion, a P/E ratio of 12.62 and a beta of 1.11. GoDaddy has a 1-year low of $74.12 and a 1-year high of $171.93. The company has a 50 day simple moving average of $159.18 and a two-hundred day simple moving average of $147.45. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.48.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 earnings per share. Equities analysts forecast that GoDaddy will post 5.09 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Sigal Zarmi sold 400 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the sale, the director now owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Sigal Zarmi sold 400 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, the director now directly owns 4,661 shares in the company, valued at approximately $734,620.21. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Nick Daddario sold 684 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction of $107,545.32. Following the completion of the transaction, the chief accounting officer now owns 17,704 shares in the company, valued at approximately $2,783,599.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,744 shares of company stock valued at $4,089,571. 0.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. ORG Wealth Partners LLC bought a new position in shares of GoDaddy in the third quarter worth about $30,000. Transcendent Capital Group LLC bought a new position in GoDaddy during the 2nd quarter worth about $28,000. ORG Partners LLC bought a new position in GoDaddy during the 2nd quarter worth about $32,000. International Assets Investment Management LLC bought a new position in GoDaddy during the 2nd quarter worth about $36,000. Finally, Carolina Wealth Advisors LLC bought a new position in GoDaddy during the 3rd quarter worth about $49,000. 90.28% of the stock is currently owned by 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.