GoDaddy (NYSE:GDDY) Trading 0.4% Higher – What’s Next?

GoDaddy Inc. (NYSE:GDDY)’s share price shot up 0.4% during mid-day trading on Monday . The company traded as high as $199.02 and last traded at $198.43. 348,294 shares changed hands during trading, a decline of 76% from the average session volume of 1,456,271 shares. The stock had previously closed at $197.57.

Analyst Ratings Changes

GDDY has been the topic of several recent analyst reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. Benchmark raised their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. B. Riley upped their price target on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Piper Sandler lifted their price target on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada raised their price objective on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $173.31.

GoDaddy Trading Up 0.7 %

The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a fifty day moving average price of $170.85 and a 200 day moving average price of $155.88. The company has a market cap of $27.92 billion, a price-to-earnings ratio of 15.33 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The firm 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 company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.89 earnings per share. As a group, equities analysts predict that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total transaction of $855,800.00. Following the completion of the sale, the chief financial officer now directly owns 93,102 shares in the company, valued at $14,486,671.20. This trade represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total value of $500,730.00. Following the completion of the transaction, the chief executive officer now directly owns 358,773 shares in the company, valued at $59,882,801.43. The trade was a 0.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,345 shares of company stock worth $3,897,255 over the last 90 days. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

A number of hedge funds have recently bought and sold shares of GDDY. Cetera Investment Advisers grew its holdings in shares of GoDaddy by 365.9% during the 1st quarter. Cetera Investment Advisers now owns 16,198 shares of the technology company’s stock worth $1,922,000 after purchasing an additional 12,721 shares in the last quarter. Cetera Advisors LLC raised its position in shares of GoDaddy by 16.0% in the 1st quarter. Cetera Advisors LLC now owns 7,755 shares of the technology company’s stock valued at $920,000 after buying an additional 1,068 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of GoDaddy by 96.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 35,654 shares of the technology company’s stock worth $4,275,000 after acquiring an additional 17,490 shares during the period. GAMMA Investing LLC lifted its holdings in shares of GoDaddy by 315.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,093 shares of the technology company’s stock worth $153,000 after acquiring an additional 830 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of GoDaddy by 28.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 681 shares of the technology company’s stock worth $95,000 after acquiring an additional 152 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

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.