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

GoDaddy Inc. (NYSE:GDDY) has been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $166.54.

Several research analysts have commented on the stock. Benchmark boosted their price target on shares of GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Robert W. Baird boosted their price target on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. B. Riley upped their target price on shares of GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a report on Friday, July 12th. Raymond James upped their target price on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a report on Monday.

GoDaddy Price Performance

Shares of GDDY opened at $153.16 on Friday. GoDaddy has a fifty-two week low of $71.15 and a fifty-two week high of $167.65. The firm’s 50 day moving average price is $155.72 and its 200 day moving average price is $140.87. The company has a market cap of $21.85 billion, a P/E ratio of 13.02 and a beta of 1.13. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13.

GoDaddy (NYSE:GDDY) last posted 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). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the firm earned $0.63 EPS. The company’s revenue was up 7.3% on a year-over-year basis. On average, research analysts forecast that GoDaddy will post 5.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GoDaddy news, CAO Nick Daddario sold 684 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total transaction of $107,545.32. Following the completion of the transaction, the chief accounting officer now owns 17,704 shares in the company, valued at approximately $2,783,599.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Nick Daddario sold 684 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total value of $107,545.32. Following the completion of the transaction, the chief accounting officer now owns 17,704 shares in the company, valued at approximately $2,783,599.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total transaction of $500,730.00. Following the completion of the transaction, the chief executive officer now owns 358,773 shares of the company’s stock, valued at approximately $59,882,801.43. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,244 shares of company stock worth $3,628,171. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On GoDaddy

Large investors have recently made changes to their positions in the stock. Plato Investment Management Ltd increased its holdings in shares of GoDaddy by 2,471.0% in the 1st 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 in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in GoDaddy by 20.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock valued at $25,469,000 after acquiring an additional 35,703 shares during the last quarter. Forsta AP Fonden grew its stake in GoDaddy by 87.5% in the 1st quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock valued at $9,969,000 after acquiring an additional 39,200 shares during the last quarter. Swedbank AB grew its stake in 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 acquiring an additional 5,247 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in GoDaddy by 866.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,335 shares of the technology company’s stock valued at $1,227,000 after acquiring an additional 9,266 shares during the last quarter. Hedge funds and other institutional investors 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.