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

GoDaddy Inc. (NYSE:GDDY) has been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $118.4286.

A number of research firms have weighed in on GDDY. JPMorgan Chase & Co. cut their price objective on shares of GoDaddy from $154.00 to $124.00 and set an “overweight” rating for the company in a report on Thursday, June 18th. Benchmark cut their price target on GoDaddy from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. UBS Group started coverage on GoDaddy in a research report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 price target on the stock. Wells Fargo & Company raised their price objective on GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of GoDaddy in a research report on Tuesday, June 16th.

GoDaddy Stock Down 2.7%

Shares of GDDY opened at $86.95 on Thursday. The company has a market capitalization of $11.51 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 0.81 and a beta of 0.89. GoDaddy has a 52 week low of $71.59 and a 52 week high of $177.84. The stock’s 50-day moving average price is $84.94 and its 200-day moving average price is $92.09. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.53 by $0.07. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.51 EPS. On average, sell-side analysts predict that GoDaddy will post 7.13 EPS for the current year.

Insider Activity at GoDaddy

In other news, Director Sigal Zarmi sold 350 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $87.84, for a total value of $30,744.00. Following the transaction, the director owned 5,708 shares in the company, valued at $501,390.72. This trade represents a 5.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Amanpal Singh Bhutani sold 8,373 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $752,397.78. Following the completion of the transaction, the chief executive officer owned 521,747 shares in the company, valued at $46,884,185.42. The trade was a 1.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 16,751 shares of company stock valued at $1,480,228. 0.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Coldstream Capital Management Inc. grew its position in shares of GoDaddy by 4.8% in the third quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company’s stock valued at $258,000 after purchasing an additional 86 shares in the last quarter. Main Street Financial Solutions LLC grew its holdings in GoDaddy by 1.0% in the 2nd quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock valued at $2,185,000 after buying an additional 119 shares in the last quarter. Lido Advisors LLC increased its stake in shares of GoDaddy by 6.2% in the 4th quarter. Lido Advisors LLC now owns 2,083 shares of the technology company’s stock worth $283,000 after acquiring an additional 121 shares during the last quarter. Martin Capital Advisors LLP raised its holdings in shares of GoDaddy by 1.5% during the 4th quarter. Martin Capital Advisors LLP now owns 9,082 shares of the technology company’s stock worth $1,127,000 after acquiring an additional 130 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of GoDaddy by 18.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 832 shares of the technology company’s stock valued at $103,000 after acquiring an additional 132 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.