GoDaddy (NYSE:GDDY) Shares Up 1.2% – Here’s Why

GoDaddy Inc. (NYSE:GDDY)’s share price rose 1.2% on Thursday . The stock traded as high as $205.05 and last traded at $202.50. Approximately 221,442 shares traded hands during trading, a decline of 85% from the average daily volume of 1,450,151 shares. The stock had previously closed at $200.13.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GDDY. B. Riley upped their price objective on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Barclays boosted their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Robert W. Baird raised their target price on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price target on GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Piper Sandler increased their price target on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and an average price target of $181.57.

GoDaddy Price Performance

The stock has a market cap of $28.60 billion, a price-to-earnings ratio of 15.75 and a beta of 1.15. The company has a 50 day simple moving average of $183.43 and a 200-day simple moving average of $161.83. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the business posted $0.89 EPS. The company’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, research analysts anticipate that GoDaddy Inc. will post 4.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total transaction of $855,800.00. Following the transaction, the chief financial officer now directly owns 93,102 shares in the company, valued at approximately $14,486,671.20. This trade represents a 5.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $207.35, for a total value of $207,350.00. Following the completion of the sale, the chief operating officer now owns 184,632 shares of the company’s stock, valued at approximately $38,283,445.20. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,503 shares of company stock worth $4,158,033. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. lifted its holdings in shares of GoDaddy by 3.4% in the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after purchasing an additional 6,424 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of GoDaddy by 10.2% during the third quarter. Franklin Resources Inc. now owns 417,902 shares of the technology company’s stock valued at $68,565,000 after buying an additional 38,511 shares in the last quarter. Tidal Investments LLC raised its position in GoDaddy by 38.7% during the third quarter. Tidal Investments LLC now owns 18,643 shares of the technology company’s stock valued at $2,923,000 after buying an additional 5,205 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in GoDaddy in the 3rd quarter worth about $922,000. Finally, Anchor Investment Management LLC acquired a new stake in GoDaddy during the 3rd quarter worth about $31,000. Institutional investors own 90.28% of the company’s stock.

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.