GoDaddy (NYSE:GDDY) Stock Rating Reaffirmed by Benchmark

Benchmark reissued their buy rating on shares of GoDaddy (NYSE:GDDY) in a research report report published on Monday, Benzinga reports. Benchmark currently has a $158.00 target price on the technology company’s stock.

Several other equities research analysts have also recently issued reports on the stock. UBS Group lifted their price objective on shares of GoDaddy from $118.00 to $130.00 and gave the stock a neutral rating in a research report on Friday, May 3rd. B. Riley lifted their price target on shares of GoDaddy from $143.00 to $170.00 and gave the stock a buy rating in a research note on Friday, July 12th. Barclays lifted their price target on shares of GoDaddy from $130.00 to $150.00 and gave the stock an overweight rating in a research note on Friday, May 3rd. Evercore ISI lifted their price objective on shares of GoDaddy from $110.00 to $135.00 and gave the company an in-line rating in a research note on Friday, May 3rd. Finally, Royal Bank of Canada lifted their price objective on shares of GoDaddy from $124.00 to $145.00 and gave the company an outperform rating in a research note on Friday, May 3rd. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $152.92.

GoDaddy Stock Performance

Shares of GDDY stock opened at $141.33 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 9.15. GoDaddy has a 52 week low of $69.18 and a 52 week high of $148.71. The stock has a market capitalization of $20.17 billion, a PE ratio of 11.74 and a beta of 1.14. The firm has a 50 day moving average of $141.54 and a two-hundred day moving average of $126.70.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.00 by $0.08. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. On average, research analysts predict that GoDaddy will post 4.81 EPS for the current fiscal year.

Insider Transactions at GoDaddy

In other news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $139.79, for a total value of $559,160.00. Following the transaction, the chief operating officer now directly owns 192,632 shares in the company, valued at approximately $26,928,027.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO Roger Chen sold 4,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $139.79, for a total value of $559,160.00. Following the sale, the chief operating officer now owns 192,632 shares of the company’s stock, valued at approximately $26,928,027.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Nick Daddario sold 523 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total transaction of $72,221.07. Following the completion of the sale, the chief accounting officer now directly owns 22,666 shares in the company, valued at approximately $3,129,947.94. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,071 shares of company stock worth $6,385,206. 0.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GoDaddy

Several hedge funds have recently made changes to their positions in GDDY. Transcendent Capital Group LLC acquired a new position in shares of GoDaddy in the second quarter worth about $28,000. ORG Partners LLC acquired a new stake in shares of GoDaddy during the second quarter worth approximately $32,000. V Square Quantitative Management LLC acquired a new stake in shares of GoDaddy during the fourth quarter worth approximately $28,000. International Assets Investment Management LLC acquired a new stake in shares of GoDaddy during the second quarter worth approximately $36,000. Finally, GAMMA Investing LLC boosted its holdings in shares of GoDaddy by 102.3% during the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after purchasing an additional 133 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

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.