GoDaddy Inc. (NYSE:GDDY) Given Average Rating of “Moderate Buy” by Brokerages

GoDaddy Inc. (NYSE:GDDY) has received an average recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $213.20.

A number of brokerages recently commented on GDDY. Citigroup raised their price target on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Raymond James boosted their target price on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 21st. Wells Fargo & Company began coverage on GoDaddy in a research note on Monday, February 3rd. They set an “equal weight” rating and a $198.00 target price for the company. JPMorgan Chase & Co. boosted their target price on GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Robert W. Baird boosted their target price on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th.

GoDaddy Stock Down 1.6 %

Shares of NYSE GDDY opened at $173.82 on Monday. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. GoDaddy has a 52 week low of $108.38 and a 52 week high of $216.00. The stock has a market capitalization of $24.40 billion, a P/E ratio of 26.95 and a beta of 1.15. The stock’s fifty day moving average is $201.36 and its 200 day moving average is $181.33.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. Sell-side analysts forecast that GoDaddy will post 6.63 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Brian Sharples sold 500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $197.77, for a total value of $98,885.00. Following the sale, the director now directly owns 23,621 shares in the company, valued at $4,671,525.17. This represents a 2.07 % 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 Monday, December 2nd. The shares were sold at an average price of $197.77, for a total value of $593,310.00. Following the completion of the sale, the chief executive officer now owns 342,956 shares in the company, valued at $67,826,408.12. The trade was a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,482 shares of company stock valued at $4,903,930 over the last quarter. 0.61% of the stock is owned by company insiders.

Institutional Trading of GoDaddy

Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of GoDaddy by 2.2% during the 3rd quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock worth $1,080,549,000 after buying an additional 147,105 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of GoDaddy by 11.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company’s stock worth $751,778,000 after buying an additional 395,160 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of GoDaddy by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company’s stock worth $692,245,000 after buying an additional 90,810 shares in the last quarter. WCM Investment Management LLC boosted its holdings in shares of GoDaddy by 7,083.4% during the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock worth $678,941,000 after buying an additional 3,356,678 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of GoDaddy by 11.6% during the 4th quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company’s stock worth $575,122,000 after buying an additional 304,033 shares in the last quarter. 90.28% of the stock is currently 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.