GoDaddy (NYSE:GDDY) Upgraded at StockNews.com

StockNews.com upgraded shares of GoDaddy (NYSE:GDDY) from a hold rating to a buy rating in a report published on Monday morning.

Other analysts have also recently issued reports about the company. Barclays lowered their price target on GoDaddy from $243.00 to $235.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. JPMorgan Chase & Co. upped their target price on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Piper Sandler lifted their price target on GoDaddy from $177.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. B. Riley upped their price objective on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, Morgan Stanley dropped their target price on GoDaddy from $228.00 to $206.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $214.86.

GoDaddy Stock Up 0.3 %

Shares of GDDY stock opened at $183.12 on Monday. The stock has a market cap of $25.88 billion, a P/E ratio of 28.39 and a beta of 1.13. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The stock has a fifty day moving average price of $176.76 and a 200 day moving average price of $187.57. GoDaddy has a one year low of $130.31 and a one year high of $216.00.

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

Insider Buying and Selling at GoDaddy

In other news, CFO Mark Mccaffrey sold 37,500 shares of the firm’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $180.95, for a total transaction of $6,785,625.00. Following the completion of the sale, the chief financial officer now owns 77,250 shares in the company, valued at approximately $13,978,387.50. This trade represents a 32.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $194.28, for a total transaction of $194,280.00. Following the completion of the transaction, the chief operating officer now owns 182,632 shares in the company, valued at approximately $35,481,744.96. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,500 shares of company stock worth $10,244,835 over the last 90 days. 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. Cornerstone Planning Group LLC increased its position in GoDaddy by 123.4% during the 1st quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company’s stock worth $25,000 after buying an additional 79 shares during the period. Park Square Financial Group LLC acquired a new position in shares of GoDaddy in the first quarter valued at about $27,000. Private Trust Co. NA increased its position in GoDaddy by 591.3% during the first quarter. Private Trust Co. NA now owns 159 shares of the technology company’s stock worth $29,000 after acquiring an additional 136 shares during the period. Versant Capital Management Inc acquired a new stake in GoDaddy in the 4th quarter worth about $43,000. Finally, Rakuten Securities Inc. grew its position in shares of GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after purchasing an additional 165 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

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.