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

GoDaddy Inc. (NYSE:GDDY) has earned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Six 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 1-year target price among brokerages that have covered the stock in the last year is $213.20.

Several equities research analysts have weighed in on the company. Piper Sandler boosted their price objective on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Citigroup boosted their target price on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. B. Riley lifted their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Raymond James increased their target price on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 21st. Finally, Barclays raised their target price on shares of GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a report on Friday, February 14th.

GoDaddy Price Performance

NYSE GDDY opened at $184.00 on Friday. GoDaddy has a 52 week low of $118.39 and a 52 week high of $216.00. The firm has a market capitalization of $26.01 billion, a P/E ratio of 28.53 and a beta of 1.25. 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 50-day moving average price of $190.91 and a 200-day moving average price of $183.77.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data 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 firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Equities research analysts anticipate that GoDaddy will post 6.63 earnings per share for the current year.

Insider Buying and Selling

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $597,030.00. Following the transaction, the chief executive officer now directly owns 333,153 shares in the company, valued at approximately $66,300,778.53. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $174.21, for a total value of $174,210.00. Following the sale, the chief operating officer now owns 257,949 shares of the company’s stock, valued at $44,937,295.29. This trade represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,480 shares of company stock worth $3,816,029 over the last 90 days. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On GoDaddy

Several institutional investors have recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new stake in shares of GoDaddy in the 4th quarter valued at approximately $25,554,000. CWA Asset Management Group LLC raised its position in GoDaddy by 29.2% in the fourth quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock worth $3,172,000 after acquiring an additional 3,631 shares in the last quarter. Dai ichi Life Insurance Company Ltd lifted its holdings in GoDaddy by 39.6% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock valued at $9,410,000 after acquiring an additional 17,021 shares during the period. Fiduciary Alliance LLC purchased a new position in GoDaddy in the 4th quarter valued at approximately $1,045,000. Finally, Mount Yale Investment Advisors LLC increased its stake in GoDaddy by 205.3% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company’s stock valued at $1,110,000 after purchasing an additional 3,783 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

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.