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

GoDaddy Inc. (NYSE:GDDY) has earned an average recommendation of “Moderate Buy” from the twelve analysts that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $142.73.

A number of research firms have recently weighed in on GDDY. Robert W. Baird increased their price target on GoDaddy from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. StockNews.com raised shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 14th. Royal Bank of Canada increased their price objective on shares of GoDaddy from $124.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday. B. Riley boosted their target price on GoDaddy from $124.00 to $142.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Finally, Raymond James assumed coverage on GoDaddy in a research note on Wednesday, March 27th. They issued a “strong-buy” rating and a $150.00 price objective for the company.

GoDaddy Trading Up 3.8 %

Shares of GDDY stock opened at $128.34 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 9.15. GoDaddy has a twelve month low of $68.98 and a twelve month high of $128.60. The company’s 50-day moving average price is $120.27 and its 200-day moving average price is $107.24. The stock has a market cap of $18.29 billion, a price-to-earnings ratio of 10.66 and a beta of 1.09.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.05. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. As a group, equities analysts predict that GoDaddy will post 4.93 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In other news, CFO Mark Mccaffrey sold 624 shares of GoDaddy stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total transaction of $75,397.92. Following the completion of the sale, the chief financial officer now directly owns 116,328 shares of the company’s stock, valued at approximately $14,055,912.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Mark Mccaffrey sold 624 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total transaction of $75,397.92. Following the completion of the sale, the chief financial officer now owns 116,328 shares in the company, valued at $14,055,912.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Roger Chen sold 4,000 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 200,632 shares in the company, valued at $24,597,483.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,234 shares of company stock valued at $14,025,346. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Several large investors have recently bought and sold shares of GDDY. Sciencast Management LP purchased a new stake in shares of GoDaddy in the 1st quarter valued at about $312,000. Texas Permanent School Fund Corp lifted its stake in GoDaddy by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 123,249 shares of the technology company’s stock valued at $14,627,000 after buying an additional 1,612 shares during the last quarter. Mediolanum International Funds Ltd acquired a new stake in shares of GoDaddy in the first quarter valued at approximately $10,822,000. GSA Capital Partners LLP purchased a new position in shares of GoDaddy during the first quarter worth approximately $667,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in GoDaddy by 62.4% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,994 shares of the technology company’s stock valued at $593,000 after purchasing an additional 1,919 shares during the last quarter. Institutional investors and hedge funds 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.