GoDaddy Inc. (NYSE:GDDY) Receives $149.92 Consensus PT from Brokerages

Shares of GoDaddy Inc. (NYSE:GDDY) have been given an average rating of “Moderate Buy” by the fourteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $149.92.

Several equities research analysts recently weighed in on GDDY shares. Benchmark reaffirmed a “buy” rating and issued a $150.00 price objective on shares of GoDaddy in a report on Wednesday, May 1st. JPMorgan Chase & Co. upped their price objective on shares of GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. Morgan Stanley upped their price objective on shares of GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Evercore ISI upped their price objective on shares of GoDaddy from $110.00 to $135.00 and gave the stock an “in-line” rating in a report on Friday, May 3rd. Finally, UBS Group upped their price objective on shares of GoDaddy from $118.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd.

GoDaddy Stock Down 0.2 %

GoDaddy stock opened at $137.66 on Wednesday. The company has a 50-day simple moving average of $132.90 and a 200-day simple moving average of $118.91. The firm has a market capitalization of $19.64 billion, a P/E ratio of 11.43 and a beta of 1.10. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.55 and a current ratio of 0.55. GoDaddy has a one year low of $69.18 and a one year high of $142.95.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 EPS 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 net margin of 40.38% and a negative return on equity of 186.09%. As a group, equities analysts expect that GoDaddy will post 4.82 earnings per share for the current year.

Insiders Place Their Bets

In other GoDaddy news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $118.56, for a total value of $474,240.00. Following the completion of the transaction, the chief operating officer now directly owns 204,632 shares in the company, valued at $24,261,169.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other GoDaddy news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $118.56, for a total value of $474,240.00. Following the completion of the transaction, the chief operating officer now directly owns 204,632 shares in the company, valued at $24,261,169.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mark Mccaffrey sold 624 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total transaction of $75,397.92. Following the completion of the transaction, the chief financial officer now owns 116,328 shares of the company’s stock, valued at $14,055,912.24. The disclosure for this sale can be found here. Insiders sold a total of 46,195 shares of company stock worth $6,237,029 over the last ninety days. 0.61% of the stock is currently owned by company insiders.

Institutional Trading of GoDaddy

A number of hedge funds have recently made changes to their positions in the stock. American Trust purchased a new stake in shares of GoDaddy in the first quarter worth approximately $267,000. DekaBank Deutsche Girozentrale lifted its position in shares of GoDaddy by 96.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 35,654 shares of the technology company’s stock worth $4,275,000 after purchasing an additional 17,490 shares in the last quarter. Cetera Advisors LLC lifted its position in shares of GoDaddy by 16.0% in the first quarter. Cetera Advisors LLC now owns 7,755 shares of the technology company’s stock worth $920,000 after purchasing an additional 1,068 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of GoDaddy by 365.9% in the first quarter. Cetera Investment Advisers now owns 16,198 shares of the technology company’s stock worth $1,922,000 after purchasing an additional 12,721 shares in the last quarter. Finally, Invst LLC bought a new position in GoDaddy during the first quarter valued at approximately $873,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

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.