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

Shares of GoDaddy Inc. (NYSE:GDDY) have been assigned an average recommendation of “Moderate Buy” from the sixteen analysts that are currently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $213.20.

A number of brokerages have commented on GDDY. Citigroup increased their price objective on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Raymond James raised their price target on GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 21st. Robert W. Baird boosted their price objective on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. raised their target price on shares of GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, StockNews.com downgraded shares of GoDaddy from a “buy” rating to a “hold” rating in a research note on Monday, February 17th.

GoDaddy Stock Up 2.8 %

Shares of NYSE GDDY opened at $179.77 on Monday. GoDaddy has a 12-month low of $108.38 and a 12-month high of $216.00. The firm’s 50-day simple moving average is $199.02 and its 200 day simple moving average is $181.51. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The company has a market cap of $25.24 billion, a price-to-earnings ratio of 27.87 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. On average, research analysts expect that GoDaddy will post 6.63 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $194.28, for a total value of $194,280.00. Following the sale, the chief operating officer now directly owns 182,632 shares of the company’s stock, valued at approximately $35,481,744.96. The trade was a 0.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian Sharples sold 500 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $103,850.00. Following the transaction, the director now owns 22,621 shares of the company’s stock, valued at approximately $4,698,381.70. This trade represents a 2.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,482 shares of company stock valued at $4,903,930. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Total Wealth Planning & Management Inc. acquired a new stake in GoDaddy in the 4th quarter valued at approximately $244,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of GoDaddy during the 4th quarter worth approximately $25,582,000. Ascent Group LLC raised its holdings in shares of GoDaddy by 11.0% in the fourth quarter. Ascent Group LLC now owns 2,649 shares of the technology company’s stock valued at $523,000 after purchasing an additional 262 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of GoDaddy by 9.8% in the fourth quarter. Mackenzie Financial Corp now owns 121,185 shares of the technology company’s stock worth $23,918,000 after purchasing an additional 10,791 shares in the last quarter. Finally, Invst LLC boosted its holdings in GoDaddy by 1.0% during the fourth quarter. Invst LLC now owns 7,521 shares of the technology company’s stock worth $1,484,000 after purchasing an additional 74 shares during 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.