GoDaddy Inc. (NYSE:GDDY) Given Average Rating of “Moderate Buy” by Analysts

GoDaddy Inc. (NYSE:GDDY) has received a consensus recommendation of “Moderate Buy” from the sixteen research firms that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $213.20.

GDDY has been the subject of a number of recent research reports. Piper Sandler increased their target price on GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. StockNews.com downgraded shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Jefferies Financial Group upped their target price on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Citigroup lifted their price target on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Raymond James upped their price objective on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 21st.

Insiders Place Their Bets

In other news, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the completion of the transaction, the chief financial officer now directly owns 84,300 shares of the company’s stock, valued at approximately $16,776,543. This represents a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $99,505.00. Following the completion of the sale, the director now directly owns 23,121 shares in the company, valued at approximately $4,601,310.21. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,480 shares of company stock valued at $3,816,029. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Several large investors have recently added to or reduced their stakes in GDDY. Anchor Investment Management LLC acquired a new stake in shares of GoDaddy in the 3rd quarter worth about $31,000. Versant Capital Management Inc bought a new position in GoDaddy in the 4th quarter worth about $43,000. Rakuten Securities Inc. increased its stake in shares of GoDaddy by 311.3% in the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock valued at $43,000 after purchasing an additional 165 shares during the period. Friedenthal Financial bought a new stake in shares of GoDaddy during the fourth quarter valued at approximately $49,000. Finally, OFI Invest Asset Management acquired a new position in shares of GoDaddy during the fourth quarter worth approximately $52,000. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Stock Down 0.4 %

GDDY opened at $180.72 on Friday. GoDaddy has a 1 year low of $118.39 and a 1 year high of $216.00. The firm has a 50 day moving average price of $191.62 and a 200 day moving average price of $182.88. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The company has a market cap of $25.55 billion, a PE ratio of 28.02 and a beta of 1.25.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Sell-side analysts expect that GoDaddy will post 6.63 earnings per share 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.