GoDaddy (NYSE:GDDY) Trading 1.3% Higher – Time to Buy?

GoDaddy Inc. (NYSE:GDDY) shares were up 1.3% on Wednesday . The company traded as high as $208.00 and last traded at $207.55. Approximately 151,489 shares changed hands during trading, a decline of 90% from the average daily volume of 1,460,806 shares. The stock had previously closed at $204.85.

Analysts Set New Price Targets

GDDY has been the subject of a number of recent analyst reports. Jefferies Financial Group increased their price objective on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Piper Sandler lifted their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. B. Riley increased their target price on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Barclays boosted their price target on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $181.57.

GoDaddy Stock Performance

The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $29.06 billion, a PE ratio of 16.03 and a beta of 1.15. The firm has a fifty day moving average price of $177.46 and a 200 day moving average price of $159.13.

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

Insider Activity

In other news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $152.17, for a total value of $152,170.00. Following the transaction, the chief operating officer now directly owns 187,632 shares of the company’s stock, valued at approximately $28,551,961.44. This represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total value of $98,885.00. Following the sale, the director now directly owns 23,621 shares of the company’s stock, valued at approximately $4,671,525.17. The trade was a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,949 shares of company stock worth $3,785,993 over the last quarter. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Several institutional investors have recently made changes to their positions in GDDY. Cetera Investment Advisers lifted its stake in GoDaddy by 365.9% in the first quarter. Cetera Investment Advisers now owns 16,198 shares of the technology company’s stock valued at $1,922,000 after acquiring an additional 12,721 shares during the last quarter. V Square Quantitative Management LLC boosted its holdings in GoDaddy by 485.4% in the second quarter. V Square Quantitative Management LLC now owns 1,528 shares of the technology company’s stock worth $213,000 after purchasing an additional 1,267 shares in the last quarter. ORG Partners LLC acquired a new position in GoDaddy during the second quarter worth $32,000. Cigna Investments Inc. New bought a new position in GoDaddy during the second quarter valued at about $207,000. Finally, Swedbank AB lifted its position in shares of GoDaddy by 3.5% in the second quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock worth $21,425,000 after buying an additional 5,247 shares during the last quarter. 90.28% of the stock is currently 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.