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

GoDaddy Inc. (NYSE:GDDY) has received an average recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the company, MarketBeat reports. Six analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $213.20.

Several research analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. UBS Group boosted their price target on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. StockNews.com cut GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Barclays boosted their target price on GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th.

Insiders Place Their Bets

In related news, CAO Phontip Palitwanon sold 770 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now owns 23,059 shares in the company, valued at approximately $4,534,321.76. This trade represents a 3.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Mccaffrey sold 480 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $201.29, for a total value of $96,619.20. Following the completion of the transaction, the chief financial officer now directly owns 83,254 shares of the company’s stock, valued at approximately $16,758,197.66. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,482 shares of company stock worth $4,903,930 in the last quarter. 0.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GoDaddy

Several hedge funds have recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in shares of GoDaddy during the 3rd quarter worth approximately $27,000. Anchor Investment Management LLC bought a new stake in GoDaddy during the third quarter worth $31,000. Versant Capital Management Inc acquired a new stake in shares of GoDaddy in the 4th quarter valued at $43,000. Rakuten Securities Inc. increased its stake in shares of GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock valued at $43,000 after purchasing an additional 165 shares during the last quarter. Finally, Huntington National Bank increased its stake in shares of GoDaddy by 298.7% in the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock valued at $48,000 after purchasing an additional 230 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

GoDaddy Stock Up 2.8 %

GDDY stock opened at $179.77 on Monday. 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 has a twelve month low of $108.38 and a twelve month high of $216.00. The business has a 50 day moving average price of $199.02 and a two-hundred day moving average price of $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.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. Analysts anticipate that GoDaddy will post 6.63 EPS for the current fiscal year.

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.