GoDaddy (NYSE:GDDY) Earns “Buy” Rating from Benchmark

Benchmark reissued their buy rating on shares of GoDaddy (NYSE:GDDY) in a report issued on Tuesday, Benzinga reports. The brokerage currently has a $186.00 price objective on the technology company’s stock.

A number of other research analysts also recently weighed in on the company. Royal Bank of Canada increased their price target on GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Cantor Fitzgerald restated a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. Robert W. Baird upped their price target on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Raymond James lifted their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and an average price target of $166.54.

GoDaddy Price Performance

Shares of GDDY stock opened at $164.69 on Tuesday. The firm has a market cap of $23.50 billion, a price-to-earnings ratio of 13.68 and a beta of 1.12. GoDaddy has a 12 month low of $71.15 and a 12 month high of $167.65. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13. The stock has a 50-day moving average price of $159.14 and a 200 day moving average price of $144.47.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.06). The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 EPS. Research analysts expect that GoDaddy will post 5.07 EPS for the current year.

Insider Transactions at GoDaddy

In other GoDaddy news, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the sale, the director now owns 4,661 shares of the company’s stock, valued at $734,620.21. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total value of $439,440.00. Following the completion of the transaction, the chief executive officer now owns 362,398 shares of the company’s stock, valued at approximately $53,084,059.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the sale, the director now directly owns 4,661 shares in the company, valued at $734,620.21. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,744 shares of company stock valued at $5,114,931 over the last quarter. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Plato Investment Management Ltd boosted its position in GoDaddy by 2,471.0% during the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock valued at $769,000 after purchasing an additional 6,227 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of GoDaddy by 20.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock worth $25,469,000 after purchasing an additional 35,703 shares in the last quarter. Forsta AP Fonden raised its stake in shares of GoDaddy by 87.5% during the 1st quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock worth $9,969,000 after purchasing an additional 39,200 shares in the last quarter. Swedbank AB boosted its holdings in shares of GoDaddy by 3.5% in the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock valued at $21,425,000 after buying an additional 5,247 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of GoDaddy by 866.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,335 shares of the technology company’s stock valued at $1,227,000 after buying an additional 9,266 shares in 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.