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

GoDaddy Inc. (NYSE:GDDY) has been given a consensus rating of “Moderate Buy” by the fifteen analysts that are covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $198.07.

A number of equities analysts have recently issued reports on GDDY shares. Benchmark upped their price target on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price target (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Citigroup boosted their price target on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th.

GoDaddy Stock Performance

Shares of GoDaddy stock opened at $213.79 on Thursday. The company has a market capitalization of $30.01 billion, a PE ratio of 16.52 and a beta of 1.15. The company has a 50-day simple moving average of $202.16 and a two-hundred day simple moving average of $174.74. GoDaddy has a one year low of $106.42 and a one year high of $215.35. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56.

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

Insiders Place Their Bets

In other GoDaddy news, CAO Phontip Palitwanon sold 770 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total value of $151,412.80. Following the sale, the chief accounting officer now owns 23,059 shares in the company, valued at approximately $4,534,321.76. This represents a 3.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 transaction of $503,370.00. Following the transaction, the chief executive officer now directly owns 345,956 shares of the company’s stock, valued at approximately $58,047,957.24. This trade represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,483 shares of company stock valued at $4,759,553. Company insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

Hedge funds have recently added to or reduced their stakes in the company. WCM Investment Management LLC boosted its stake in shares of GoDaddy by 7,083.4% during the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock worth $678,941,000 after acquiring an additional 3,356,678 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in GoDaddy by 2,279.5% in the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock worth $62,908,000 after purchasing an additional 384,386 shares during the period. Mizuho Securities USA LLC boosted its position in GoDaddy by 3,227.3% during the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock worth $56,709,000 after purchasing an additional 350,839 shares in the last quarter. FMR LLC grew its holdings in GoDaddy by 19.8% in the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock valued at $260,299,000 after purchasing an additional 274,014 shares during the period. Finally, Intech Investment Management LLC raised its position in GoDaddy by 498.7% during the third quarter. Intech Investment Management LLC now owns 253,367 shares of the technology company’s stock worth $39,723,000 after acquiring an additional 211,051 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

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.