GoDaddy Inc. (NYSE:GDDY) Receives $166.54 Average Price Target from Analysts

GoDaddy Inc. (NYSE:GDDY) has received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $166.54.

GDDY has been the subject of several research reports. Piper Sandler restated a “neutral” rating and set a $172.00 price objective (up from $160.00) on shares of GoDaddy in a research report on Monday, September 23rd. Robert W. Baird increased their price objective on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Raymond James boosted their target price on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. Benchmark reaffirmed a “buy” rating and set a $186.00 price target on shares of GoDaddy in a research report on Tuesday, October 15th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a report on Monday, October 7th.

Insider Buying and Selling at GoDaddy

In other news, CAO Nick Daddario sold 684 shares of GoDaddy stock in a transaction on Wednesday, September 4th. The stock was 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, COO Roger Chen sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total value of $585,920.00. Following the completion of the transaction, the chief operating officer now owns 188,632 shares of the company’s stock, valued at $27,630,815.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Nick Daddario sold 684 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now directly owns 17,704 shares in the company, valued at approximately $2,783,599.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,744 shares of company stock worth $5,114,931 over the last three months. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Large investors have recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of GoDaddy by 0.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock worth $2,837,000 after purchasing an additional 67 shares during the last quarter. Whittier Trust Co. increased its position in GoDaddy by 4.3% in the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock valued at $249,000 after acquiring an additional 74 shares during the period. Sivia Capital Partners LLC increased its position in GoDaddy by 3.9% in the 1st quarter. Sivia Capital Partners LLC now owns 3,023 shares of the technology company’s stock valued at $359,000 after acquiring an additional 113 shares during the period. Atomi Financial Group Inc. raised its stake in shares of GoDaddy by 7.6% during the third quarter. Atomi Financial Group Inc. now owns 1,861 shares of the technology company’s stock valued at $292,000 after acquiring an additional 131 shares during the last quarter. Finally, GAMMA Investing LLC lifted 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. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Stock Down 0.4 %

GDDY stock opened at $159.94 on Tuesday. GoDaddy has a 1-year low of $71.69 and a 1-year high of $167.65. The business’s 50 day simple moving average is $159.26 and its 200 day simple moving average is $146.07. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. The firm has a market capitalization of $22.82 billion, a PE ratio of 13.28 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.06). The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. GoDaddy’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share. As a group, research analysts anticipate that GoDaddy will post 5.07 EPS for the current year.

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.