GoDaddy (NYSE:GDDY) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of GoDaddy (NYSE:GDDY) from a buy rating to a strong-buy rating in a research report released on Tuesday morning.

Other equities research analysts have also issued reports about the company. Citigroup raised their price objective on GoDaddy from $150.00 to $165.00 and gave the stock a buy rating in a research note on Friday, May 31st. Royal Bank of Canada raised their target price on GoDaddy from $124.00 to $145.00 and gave the stock an outperform rating in a research report on Friday, May 3rd. Robert W. Baird raised their target price on GoDaddy from $150.00 to $175.00 and gave the stock an outperform rating in a research report on Friday, May 24th. Benchmark reaffirmed a buy rating and issued a $158.00 target price on shares of GoDaddy in a research report on Monday. Finally, William Blair reaffirmed an outperform rating on shares of GoDaddy in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GoDaddy currently has an average rating of Moderate Buy and a consensus price target of $152.92.

GoDaddy Stock Performance

GDDY opened at $141.33 on Tuesday. The firm has a market cap of $20.17 billion, a PE ratio of 11.74 and a beta of 1.14. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 9.15. The business has a fifty day simple moving average of $141.54 and a 200-day simple moving average of $126.70. GoDaddy has a fifty-two week low of $69.18 and a fifty-two week high of $148.71.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.08. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. As a group, equities analysts predict that GoDaddy will post 4.81 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Nick Daddario sold 523 shares of the stock in a transaction on 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 $3,129,947.94. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other GoDaddy news, CEO Amanpal Singh Bhutani sold 6,825 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total transaction of $942,464.25. Following the transaction, the chief executive officer now directly owns 377,498 shares in the company, valued at $52,128,698.82. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Nick Daddario sold 523 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total value of $72,221.07. Following the transaction, the chief accounting officer now owns 22,666 shares in the company, valued at $3,129,947.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,071 shares of company stock worth $6,385,206. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Institutional investors have recently bought and sold shares of the stock. Generate Investment Management Ltd increased its stake in shares of GoDaddy by 95.3% in the second quarter. Generate Investment Management Ltd now owns 88,208 shares of the technology company’s stock worth $12,324,000 after purchasing an additional 43,035 shares during the period. Fiera Capital Corp increased its stake in shares of GoDaddy by 1.6% in the second quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock worth $115,725,000 after purchasing an additional 13,206 shares during the period. CIBC Asset Management Inc increased its stake in shares of GoDaddy by 248.6% in the second quarter. CIBC Asset Management Inc now owns 19,524 shares of the technology company’s stock worth $2,728,000 after purchasing an additional 13,924 shares during the period. Convergence Investment Partners LLC bought a new position in shares of GoDaddy in the second quarter worth about $2,302,000. Finally, Ritholtz Wealth Management increased its stake in shares of GoDaddy by 68.8% in the second quarter. Ritholtz Wealth Management now owns 10,368 shares of the technology company’s stock worth $1,449,000 after purchasing an additional 4,225 shares during the period. 90.28% of the stock is currently owned by institutional investors.

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.