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

GoDaddy Inc. (NYSE:GDDY) has been given an average recommendation of “Moderate Buy” by the fourteen brokerages that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $173.31.

A number of equities analysts recently issued reports on GDDY shares. Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a report on Monday, October 7th. Raymond James lifted their price objective on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Piper Sandler lifted their price objective on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Robert W. Baird boosted their price target on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Benchmark boosted their price target on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st.

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total transaction of $500,730.00. Following the completion of the sale, the chief executive officer now directly owns 358,773 shares of the company’s stock, valued at approximately $59,882,801.43. This represents a 0.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $179.00, for a total transaction of $89,500.00. Following the sale, the director now directly owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,845 shares of company stock valued at $4,803,380. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Ashton Thomas Securities LLC purchased a new stake in GoDaddy during the 3rd quarter worth approximately $27,000. Transcendent Capital Group LLC purchased a new stake in GoDaddy during the 2nd quarter worth approximately $28,000. ORG Wealth Partners LLC purchased a new stake in GoDaddy during the 3rd quarter worth approximately $30,000. Anchor Investment Management LLC purchased a new stake in GoDaddy during the 3rd quarter worth approximately $31,000. Finally, ORG Partners LLC purchased a new stake in GoDaddy during the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Up 1.8 %

GDDY opened at $196.41 on Friday. The business’s 50-day simple moving average is $165.74 and its 200-day simple moving average is $152.83. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. GoDaddy has a one year low of $94.50 and a one year high of $196.71. The stock has a market capitalization of $27.57 billion, a P/E ratio of 15.18 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last released its quarterly 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 firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the company posted $0.89 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. Analysts anticipate that GoDaddy will post 4.95 EPS for the current year.

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.