GoDaddy Inc. (NYSE:GDDY) Receives $187.71 Average Price Target from Brokerages

GoDaddy Inc. (NYSE:GDDY) has received an average recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $187.71.

GDDY has been the subject of a number of research reports. Benchmark lifted their target price on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Citigroup upped their target price on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Robert W. Baird raised their price target on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th.

GoDaddy Price Performance

GDDY stock opened at $192.82 on Friday. The firm has a 50 day moving average of $196.26 and a 200-day moving average of $169.18. The company has a market cap of $27.07 billion, a price-to-earnings ratio of 14.90 and a beta of 1.15. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy has a 12-month low of $103.10 and a 12-month high of $211.11.

GoDaddy (NYSE:GDDY) last posted its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the business earned $0.89 earnings per share. GoDaddy’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts expect that GoDaddy will post 4.96 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $164.16, for a total value of $164,160.00. Following the completion of the transaction, the chief operating officer now directly owns 186,632 shares in the company, valued at $30,637,509.12. This trade represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,003 shares of company stock worth $4,626,523 over the last ninety days. 0.61% of the stock is owned by company insiders.

Institutional Trading of GoDaddy

Several large investors have recently bought and sold shares of GDDY. Fiera Capital Corp increased its stake in GoDaddy by 1.6% during the 2nd quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock worth $115,725,000 after buying an additional 13,206 shares during the period. TD Asset Management Inc boosted its holdings in GoDaddy by 18.1% in the second quarter. TD Asset Management Inc now owns 232,709 shares of the technology company’s stock valued at $32,512,000 after purchasing an additional 35,742 shares during the last quarter. Arizona State Retirement System grew its stake in GoDaddy by 1.0% during the 2nd quarter. Arizona State Retirement System now owns 37,181 shares of the technology company’s stock valued at $5,195,000 after purchasing an additional 384 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in GoDaddy by 8.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,111 shares of the technology company’s stock worth $295,000 after purchasing an additional 160 shares during the last quarter. Finally, Candriam S.C.A. raised its position in shares of GoDaddy by 25.0% in the 2nd quarter. Candriam S.C.A. now owns 15,617 shares of the technology company’s stock valued at $2,182,000 after purchasing an additional 3,121 shares in the last quarter. 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.