GoDaddy Inc. (NYSE:GDDY) Receives $214.86 Consensus PT from Analysts

Shares of GoDaddy Inc. (NYSE:GDDY) have earned an average recommendation of “Moderate Buy” from the fourteen research firms that are covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $214.86.

GDDY has been the topic of a number of analyst reports. Morgan Stanley cut their price target on GoDaddy from $228.00 to $206.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. raised their price target on GoDaddy from $231.00 to $240.00 and gave the company an “overweight” rating in a research note on Tuesday, May 6th. StockNews.com cut GoDaddy from a “buy” rating to a “hold” rating in a research note on Tuesday. Citigroup cut their price target on GoDaddy from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Finally, Barclays cut their price target on GoDaddy from $243.00 to $235.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd.

Insider Transactions at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $190.86, for a total value of $95,430.00. Following the transaction, the director now owns 21,121 shares in the company, valued at $4,031,154.06. The trade was a 2.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $190.86, for a total value of $572,580.00. Following the completion of the transaction, the chief executive officer now owns 440,947 shares in the company, valued at $84,159,144.42. This trade represents a 0.68% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,500 shares of company stock worth $10,244,835. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Several institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC boosted its holdings in GoDaddy by 123.4% in the 1st quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in GoDaddy in the 1st quarter valued at approximately $27,000. Private Trust Co. NA boosted its holdings in GoDaddy by 591.3% in the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company’s stock valued at $29,000 after purchasing an additional 136 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in GoDaddy in the 1st quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. boosted its holdings in GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock valued at $43,000 after purchasing an additional 165 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Trading Up 0.1%

NYSE:GDDY opened at $187.71 on Friday. The firm has a market cap of $26.75 billion, a PE ratio of 29.10 and a beta of 1.13. The stock has a fifty day moving average price of $177.52 and a 200 day moving average price of $188.38. GoDaddy has a 12-month low of $133.66 and a 12-month high of $216.00. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the business posted $2.76 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Sell-side analysts anticipate that GoDaddy will post 6.63 earnings per share for the current fiscal year.

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.