GoDaddy (NYSE:GDDY) Shares Up 1% – Should You Buy?

GoDaddy Inc. (NYSE:GDDY)’s stock price was up 1% during trading on Thursday . The company traded as high as $192.08 and last traded at $192.07. Approximately 183,031 shares traded hands during trading, a decline of 87% from the average daily volume of 1,453,405 shares. The stock had previously closed at $190.12.

Analysts Set New Price Targets

A number of equities research analysts have commented on GDDY shares. Raymond James increased their target price on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Piper Sandler raised their price objective on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Barclays raised their price objective on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Cantor Fitzgerald restated a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a report on Monday, October 7th. Finally, Robert W. Baird increased their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.31.

GoDaddy Price 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 cap of $27.02 billion, a price-to-earnings ratio of 14.84 and a beta of 1.11. The business’s 50-day moving average price is $164.93 and its two-hundred day moving average price is $152.55.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm’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 firm earned $0.89 earnings per share. On average, research analysts forecast that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insider Transactions at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $183.80, for a total value of $183,800.00. Following the sale, the chief operating officer now owns 185,632 shares of the company’s stock, valued at approximately $34,119,161.60. The trade was a 0.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the completion of the transaction, the chief financial officer now directly owns 101,286 shares in the company, valued at $16,686,868.50. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,845 shares of company stock worth $4,803,380. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Several hedge funds have recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new position in GoDaddy during the 3rd quarter worth $27,000. Transcendent Capital Group LLC bought a new stake in GoDaddy during the second quarter worth about $28,000. ORG Wealth Partners LLC bought a new position in shares of GoDaddy in the third quarter valued at approximately $30,000. ORG Partners LLC bought a new stake in GoDaddy during the 2nd quarter worth approximately $32,000. Finally, International Assets Investment Management LLC bought a new stake in shares of GoDaddy during the second quarter worth $36,000. 90.28% of the stock is owned by hedge funds and other 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.