GoDaddy (NYSE:GDDY) Stock Rating Reaffirmed by Benchmark

Benchmark reiterated their buy rating on shares of GoDaddy (NYSE:GDDY) in a research report report published on Monday morning, Benzinga reports. They currently have a $158.00 target price on the technology company’s stock.

Other analysts have also recently issued reports about the company. Citigroup boosted their price target on GoDaddy from $150.00 to $165.00 and gave the stock a buy rating in a report on Friday, May 31st. Evercore ISI boosted their price target on GoDaddy from $110.00 to $135.00 and gave the stock an in-line rating in a report on Friday, May 3rd. Royal Bank of Canada boosted their price target on GoDaddy from $124.00 to $145.00 and gave the stock an outperform rating in a report on Friday, May 3rd. StockNews.com cut GoDaddy from a strong-buy rating to a buy rating in a report on Monday, July 22nd. Finally, Robert W. Baird upped their target price on GoDaddy from $150.00 to $175.00 and gave the company an outperform rating in a report on Friday, May 24th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $152.92.

GoDaddy Stock Performance

GoDaddy stock opened at $141.33 on Monday. GoDaddy has a 12-month low of $69.18 and a 12-month high of $148.71. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 9.15. The business’s 50-day moving average price is $141.54 and its two-hundred day moving average price is $126.70. The stock has a market cap of $20.17 billion, a PE ratio of 11.74 and a beta of 1.14.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.08. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. As a group, analysts expect that GoDaddy will post 4.81 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 4,058 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $133.69, for a total value of $542,514.02. Following the transaction, the chief financial officer now directly owns 112,473 shares of the company’s stock, valued at $15,036,515.37. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Mark Mccaffrey sold 4,058 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $133.69, for a total transaction of $542,514.02. Following the transaction, the chief financial officer now directly owns 112,473 shares of the company’s stock, valued at $15,036,515.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $138.84, for a total value of $555,360.00. Following the transaction, the chief operating officer now directly owns 196,632 shares in the company, valued at $27,300,386.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,071 shares of company stock valued at $6,385,206. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GoDaddy

Institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC bought a new position in GoDaddy in the 4th quarter valued at $28,000. Transcendent Capital Group LLC bought a new position in GoDaddy in the 2nd quarter valued at $28,000. GAMMA Investing LLC grew its stake 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 purchasing an additional 133 shares during the period. ORG Partners LLC bought a new position in GoDaddy in the 2nd quarter valued at $32,000. Finally, Frazier Financial Advisors LLC bought a new position in GoDaddy in the 4th quarter valued at $33,000. 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.