GoDaddy (NYSE:GDDY) Sets New 52-Week High – Still a Buy?

GoDaddy Inc. (NYSE:GDDYGet Free Report)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $212.97 and last traded at $212.67, with a volume of 266068 shares trading hands. The stock had previously closed at $204.93.

Analyst Ratings Changes

Several analysts have recently commented on GDDY shares. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. B. Riley upped their target price on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a research report on Monday, October 7th. 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, Piper Sandler lifted their target price on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Five investment 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $198.07.

Check Out Our Latest Report on GoDaddy

GoDaddy Price Performance

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 company has a 50-day simple moving average of $202.16 and a 200-day simple moving average of $174.74. The company has a market cap of $29.85 billion, a price-to-earnings ratio of 16.50 and a beta of 1.15.

GoDaddy (NYSE:GDDYGet Free Report) last released its 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 company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. GoDaddy’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.89 earnings per share. As a group, research analysts predict that GoDaddy Inc. will post 4.96 earnings per share for the current year.

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $167.79, for a total value of $503,370.00. Following the completion of the sale, the chief executive officer now directly owns 345,956 shares in the company, valued at approximately $58,047,957.24. The trade was a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Mccaffrey sold 480 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $201.29, for a total transaction of $96,619.20. Following the sale, the chief financial officer now directly owns 83,254 shares of the company’s stock, valued at $16,758,197.66. This represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,483 shares of company stock worth $4,759,553 over the last 90 days. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GDDY. Asset Management One Co. Ltd. raised its stake in shares of GoDaddy by 3.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 80,673 shares of the technology company’s stock valued at $16,413,000 after acquiring an additional 2,915 shares during the period. Avestar Capital LLC grew its holdings in GoDaddy by 4.5% during the 4th quarter. Avestar Capital LLC now owns 2,206 shares of the technology company’s stock valued at $435,000 after purchasing an additional 96 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in GoDaddy by 13.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 264,807 shares of the technology company’s stock worth $52,673,000 after buying an additional 31,708 shares in the last quarter. Quent Capital LLC increased its stake in GoDaddy by 4.4% during the fourth quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock valued at $248,000 after purchasing an additional 53 shares during the last quarter. Finally, Axecap Investments LLC raised its holdings in shares of GoDaddy by 50.1% during the fourth quarter. Axecap Investments LLC now owns 18,969 shares of the technology company’s stock worth $3,744,000 after purchasing an additional 6,334 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

About GoDaddy

(Get Free Report)

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.

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