GoDaddy (NYSE:GDDY) Trading Up 1.3% – Still a Buy?

GoDaddy Inc. (NYSE:GDDY)’s share price rose 1.3% during mid-day trading on Wednesday . The company traded as high as $208.00 and last traded at $207.55. Approximately 151,489 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 1,460,806 shares. The stock had previously closed at $204.85.

Wall Street Analyst Weigh In

GDDY has been the topic of a number of analyst reports. Piper Sandler raised their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Robert W. Baird upped their price objective on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Benchmark increased their price target on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group upped their target price on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $181.57.

GoDaddy Price Performance

The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The stock has a fifty day moving average of $179.62 and a two-hundred day moving average of $159.82. The stock has a market cap of $29.03 billion, a price-to-earnings ratio of 16.00 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the company earned $0.89 EPS. The company’s quarterly revenue was up 7.3% on a year-over-year basis. On average, equities research analysts anticipate that GoDaddy Inc. will post 4.96 earnings per share for the current year.

Insider Activity at GoDaddy

In other news, CAO Phontip Palitwanon sold 1,554 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $203.90, for a total transaction of $316,860.60. Following the completion of the transaction, the chief accounting officer now owns 21,505 shares of the company’s stock, valued at $4,384,869.50. This represents a 6.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark Mccaffrey sold 2,678 shares of GoDaddy stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total transaction of $526,601.92. Following the completion of the transaction, the chief financial officer now owns 89,800 shares in the company, valued at approximately $17,658,272. This trade represents a 2.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,503 shares of company stock valued at $4,102,853. 0.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GoDaddy

Several hedge funds have recently modified their holdings of the stock. State Street Corp lifted its stake in shares of GoDaddy by 2.2% in the third quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock worth $1,080,549,000 after acquiring an additional 147,105 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of GoDaddy by 2.5% in the third quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock valued at $535,153,000 after acquiring an additional 84,550 shares in the last quarter. FMR LLC raised its position in GoDaddy by 19.8% in the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after acquiring an additional 274,014 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of GoDaddy by 35.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after purchasing an additional 394,399 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of GoDaddy by 17.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company’s stock worth $214,584,000 after buying an additional 203,909 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Company Profile

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.