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

GoDaddy Inc. (NYSE:GDDY) has earned an average recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $164.08.

GDDY has been the subject of a number of recent research reports. Raymond James lifted their target price on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on shares of GoDaddy from $136.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Royal Bank of Canada lifted their price target on shares of GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, Benchmark increased their price objective on shares of GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, August 26th.

Insider Transactions at GoDaddy

In related news, CAO Nick Daddario sold 684 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total value of $107,545.32. Following the transaction, the chief accounting officer now owns 17,704 shares in the company, valued at approximately $2,783,599.92. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Nick Daddario sold 684 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total transaction of $107,545.32. Following the sale, the chief accounting officer now directly owns 17,704 shares of the company’s stock, valued at approximately $2,783,599.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the transaction, the director now owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. The disclosure for this sale can be found here. Insiders have sold a total of 27,768 shares of company stock valued at $4,213,025 in the last 90 days. Insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

Several institutional investors have recently modified their holdings of GDDY. Sanctuary Advisors LLC acquired a new stake in GoDaddy in the 2nd quarter worth about $1,097,000. Cetera Investment Advisers boosted its stake in shares of GoDaddy by 10.9% in the second quarter. Cetera Investment Advisers now owns 17,962 shares of the technology company’s stock worth $2,509,000 after acquiring an additional 1,764 shares during the last quarter. Truist Financial Corp increased its position in shares of GoDaddy by 1.1% during the second quarter. Truist Financial Corp now owns 35,534 shares of the technology company’s stock worth $4,964,000 after purchasing an additional 393 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in GoDaddy in the 2nd quarter valued at $245,000. Finally, Invst LLC lifted its holdings in GoDaddy by 4.8% in the 2nd quarter. Invst LLC now owns 7,558 shares of the technology company’s stock valued at $1,069,000 after purchasing an additional 349 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Price Performance

GoDaddy stock opened at $150.00 on Monday. GoDaddy has a 52-week low of $71.15 and a 52-week high of $167.65. The company has a market cap of $21.40 billion, a price-to-earnings ratio of 12.46 and a beta of 1.13. The firm’s fifty day moving average is $152.27 and its 200 day moving average is $136.02. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 EPS. Sell-side analysts forecast that GoDaddy will post 4.89 EPS for the current fiscal year.

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.