GoDaddy (NYSE:GDDY) Stock Price Up 0.8% – Here’s What Happened

GoDaddy Inc. (NYSE:GDDY) rose 0.8% during trading on Friday . The company traded as high as $199.99 and last traded at $199.40. Approximately 208,277 shares were traded during trading, a decline of 86% from the average daily volume of 1,457,568 shares. The stock had previously closed at $197.85.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Piper Sandler upped their target price on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Barclays raised their target price on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research note on Monday, October 7th. Royal Bank of Canada raised their price objective on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, B. Riley upped their target price on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $173.31.

GoDaddy Trading Down 0.1 %

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 business’s fifty day simple moving average is $170.85 and its 200 day simple moving average is $155.74. The stock has a market cap of $27.74 billion, a price-to-earnings ratio of 15.27 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the firm earned $0.89 EPS. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, research analysts predict that GoDaddy Inc. will post 4.95 EPS for the current year.

Insider Transactions at GoDaddy

In related news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total value of $855,800.00. Following the completion of the transaction, the chief financial officer now directly owns 93,102 shares of the company’s stock, valued at $14,486,671.20. This represents a 5.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total value of $500,730.00. Following the completion of the sale, the chief executive officer now owns 358,773 shares in the company, valued at approximately $59,882,801.43. This represents a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,345 shares of company stock worth $3,897,255. 0.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GDDY. Ashton Thomas Securities LLC acquired a new position in GoDaddy during the 3rd quarter valued at about $27,000. Transcendent Capital Group LLC acquired a new position in shares of GoDaddy during the second quarter valued at approximately $28,000. ORG Wealth Partners LLC bought a new stake in GoDaddy during the third quarter worth approximately $30,000. Anchor Investment Management LLC bought a new position in GoDaddy during the 3rd quarter valued at $31,000. Finally, ORG Partners LLC acquired a new position in shares of GoDaddy during the 2nd quarter valued at $32,000. Institutional investors 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.