GoDaddy (NYSE:GDDY) Stock Price Up 1% – What’s Next?

GoDaddy Inc. (NYSE:GDDY) was up 1% on Thursday . The company traded as high as $192.08 and last traded at $192.07. Approximately 183,031 shares traded hands during trading, a decline of 87% from the average daily volume of 1,453,405 shares. The stock had previously closed at $190.12.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GDDY shares. Barclays raised their price target on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Royal Bank of Canada lifted their price objective on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. B. Riley lifted their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Benchmark lifted their price objective on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Piper Sandler lifted their price objective on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $173.31.

GoDaddy Price Performance

The business has a fifty day simple moving average of $165.74 and a two-hundred day simple moving average of $152.83. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The stock has a market cap of $27.57 billion, a PE ratio of 15.18 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last posted its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the business earned $0.89 EPS. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. Research analysts forecast that GoDaddy Inc. will post 4.95 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $152.17, for a total value of $152,170.00. Following the sale, the chief operating officer now owns 187,632 shares in the company, valued at $28,551,961.44. This represents a 0.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $179.00, for a total value of $89,500.00. Following the completion of the sale, the director now owns 24,121 shares in the company, valued at $4,317,659. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,845 shares of company stock worth $4,803,380 in the last 90 days. Insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

Institutional investors have recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC purchased a new stake in GoDaddy during the 3rd quarter valued at $27,000. Transcendent Capital Group LLC purchased a new stake in GoDaddy during the 2nd quarter valued at $28,000. ORG Wealth Partners LLC purchased a new stake in GoDaddy during the 3rd quarter valued at $30,000. Anchor Investment Management LLC purchased a new stake in GoDaddy during the 3rd quarter valued at $31,000. Finally, ORG Partners LLC purchased a new stake in GoDaddy during the 2nd quarter valued at $32,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

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.