GoDaddy (NYSE:GDDY) Stock Price Up 1% – What’s Next?

GoDaddy Inc. (NYSE:GDDY)’s stock price rose 1% during mid-day trading on Thursday . The stock traded as high as $192.08 and last traded at $192.07. Approximately 183,031 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 1,453,405 shares. The stock had previously closed at $190.12.

Analyst Ratings Changes

GDDY has been the topic of several recent research reports. Barclays increased their price target on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Piper Sandler increased their price objective on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Royal Bank of Canada increased their price objective on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Raymond James increased their price objective on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Finally, StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.31.

GoDaddy Stock Up 1.8 %

The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The stock has a 50-day simple moving average of $165.74 and a 200-day simple moving average of $152.83. The firm has a market capitalization of $27.57 billion, a PE ratio of 15.18 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the business posted $0.89 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. Analysts forecast that GoDaddy Inc. will post 4.95 EPS for the current year.

Insider Transactions at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $183.80, for a total value of $183,800.00. Following the completion of the transaction, the chief operating officer now directly owns 185,632 shares of the company’s stock, valued at $34,119,161.60. This trade represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $179.00, for a total value of $89,500.00. Following the completion of the transaction, the director now directly owns 24,121 shares of the company’s stock, valued at $4,317,659. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,845 shares of company stock valued at $4,803,380 over the last three months. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Large investors have recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC bought a new stake in GoDaddy during the third quarter valued at $27,000. Transcendent Capital Group LLC bought a new stake in GoDaddy during the second quarter valued at $28,000. ORG Wealth Partners LLC bought a new stake in GoDaddy during the third quarter valued at $30,000. Anchor Investment Management LLC bought a new stake in GoDaddy during the third quarter valued at $31,000. Finally, ORG Partners LLC purchased a new stake in GoDaddy during the second quarter valued at about $32,000. 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.