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

GoDaddy Inc. (NYSE:GDDY) has earned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $171.38.

GDDY has been the subject of a number of research analyst reports. B. Riley upped their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Cantor Fitzgerald restated a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a report on Monday, October 7th. Raymond James upped their price objective on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Finally, Benchmark upped their price objective on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 31st.

Insider Buying and Selling at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the transaction, the director now owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. This trade represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $152.17, for a total transaction of $152,170.00. Following the transaction, the chief operating officer now directly owns 187,632 shares in the company, valued at $28,551,961.44. The trade was a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,844 shares of company stock valued at $4,619,397 in the last ninety days. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Large investors have recently bought and sold shares of the business. Highland Capital Management LLC bought a new position in GoDaddy in the third quarter worth about $1,132,000. Plato Investment Management Ltd lifted its holdings in GoDaddy by 2,471.0% in the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock worth $769,000 after acquiring an additional 6,227 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in GoDaddy by 20.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock worth $25,469,000 after acquiring an additional 35,703 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of GoDaddy by 3.4% in the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after purchasing an additional 6,424 shares during the period. Finally, Swedbank AB increased its stake in shares of GoDaddy by 3.5% in the second quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock valued at $21,425,000 after purchasing an additional 5,247 shares during the period. Institutional investors own 90.28% of the company’s stock.

GoDaddy Trading Down 1.3 %

Shares of GDDY opened at $182.95 on Friday. The stock has a fifty day moving average of $162.10 and a two-hundred day moving average of $150.60. 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 market capitalization of $25.68 billion, a PE ratio of 14.14 and a beta of 1.11. GoDaddy has a fifty-two week low of $91.68 and a fifty-two week high of $190.21.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate 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 revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 EPS. As a group, analysts forecast that GoDaddy will post 4.95 EPS for the current 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.