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

Shares of GoDaddy Inc. (NYSE:GDDY) have been given an average recommendation of “Moderate Buy” by the fifteen research firms that are currently covering the stock, Marketbeat reports. Five research 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 twelve-month price objective among brokers that have issued ratings on the stock in the last year is $187.71.

GDDY has been the topic of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Citigroup increased their target price on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Jefferies Financial Group lifted their price target on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. boosted their price objective on GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th.

GoDaddy Stock Up 0.7 %

Shares of NYSE GDDY opened at $196.91 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy has a 12 month low of $102.60 and a 12 month high of $211.11. The firm has a market capitalization of $27.64 billion, a price-to-earnings ratio of 15.22 and a beta of 1.15. The business has a 50-day moving average of $195.06 and a 200-day moving average of $168.41.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.89 EPS. Sell-side analysts expect that GoDaddy will post 4.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $207.35, for a total value of $207,350.00. Following the completion of the transaction, the chief operating officer now owns 184,632 shares of the company’s stock, valued at approximately $38,283,445.20. This represents a 0.54 % decrease in their position. 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 GoDaddy stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $167.79, for a total value of $503,370.00. Following the sale, the chief executive officer now owns 345,956 shares in the company, valued at $58,047,957.24. This represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,003 shares of company stock valued at $4,626,523 over the last quarter. 0.61% of the stock is owned by company insiders.

Institutional Trading of GoDaddy

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Fiera Capital Corp grew its stake in shares of GoDaddy by 1.6% in the 2nd quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock worth $115,725,000 after buying an additional 13,206 shares during the last quarter. TD Asset Management Inc grew its stake in shares of GoDaddy by 18.1% in the second quarter. TD Asset Management Inc now owns 232,709 shares of the technology company’s stock worth $32,512,000 after acquiring an additional 35,742 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of GoDaddy by 1.0% during the second quarter. Arizona State Retirement System now owns 37,181 shares of the technology company’s stock valued at $5,195,000 after acquiring an additional 384 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of GoDaddy by 8.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,111 shares of the technology company’s stock worth $295,000 after purchasing an additional 160 shares during the last quarter. Finally, Candriam S.C.A. raised its position in shares of GoDaddy by 25.0% in the 2nd quarter. Candriam S.C.A. now owns 15,617 shares of the technology company’s stock worth $2,182,000 after purchasing an additional 3,121 shares during the last quarter. 90.28% of the stock is 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.