GoDaddy Inc. (NYSE:GDDY) Receives Average Rating of “Moderate Buy” from Analysts

GoDaddy Inc. (NYSE:GDDY) has received an average rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $187.71.

A number of equities research analysts have commented on GDDY shares. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Robert W. Baird upped their target price on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Benchmark lifted their price target on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada restated an “outperform” rating and issued a $230.00 price objective (up from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Finally, Jefferies Financial Group lifted their target price on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, December 4th.

Insider Activity at GoDaddy

In other news, CAO Phontip Palitwanon sold 770 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total transaction of $151,412.80. Following the completion of the sale, the chief accounting officer now owns 23,059 shares in the company, valued at approximately $4,534,321.76. This represents a 3.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $164.16, for a total value of $164,160.00. Following the completion of the transaction, the chief operating officer now owns 186,632 shares in the company, valued at $30,637,509.12. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,003 shares of company stock valued at $4,626,523 over the last 90 days. 0.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of GDDY. Ashton Thomas Securities LLC purchased a new position in GoDaddy in the 3rd quarter valued at $27,000. ORG Wealth Partners LLC purchased a new stake in shares of GoDaddy in the third quarter valued at about $30,000. Anchor Investment Management LLC acquired a new position in shares of GoDaddy during the third quarter worth about $31,000. Versant Capital Management Inc purchased a new position in GoDaddy during the fourth quarter worth about $43,000. Finally, Huntington National Bank lifted its position in GoDaddy by 298.7% in the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock valued at $48,000 after purchasing an additional 230 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Trading Down 2.2 %

Shares of GDDY stock opened at $192.82 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy has a twelve month low of $103.10 and a twelve month high of $211.11. The company’s 50-day moving average price is $196.26 and its 200-day moving average price is $169.18. The stock has a market cap of $27.07 billion, a price-to-earnings ratio of 14.90 and a beta of 1.15.

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

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.