GoDaddy Inc. (NYSE:GDDY) Receives $163.58 Average PT from Analysts

Shares of GoDaddy Inc. (NYSE:GDDY) have earned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $163.58.

Several analysts have commented on the company. Robert W. Baird increased their target price on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Benchmark increased their target price on shares of GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, August 26th. B. Riley boosted their price objective on GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Citigroup boosted their target price on shares of GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Finally, Royal Bank of Canada increased their price target on GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, August 5th.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 7,600 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $138.92, for a total value of $1,055,792.00. Following the completion of the sale, the chief executive officer now directly owns 369,898 shares of the company’s stock, valued at $51,386,230.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other GoDaddy news, CEO Amanpal Singh Bhutani sold 7,600 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $138.92, for a total transaction of $1,055,792.00. Following the sale, the chief executive officer now owns 369,898 shares of the company’s stock, valued at approximately $51,386,230.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leah Sweet sold 1,000 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $141.59, for a total value of $141,590.00. Following the completion of the transaction, the director now directly owns 11,317 shares of the company’s stock, valued at $1,602,374.03. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,878 shares of company stock worth $5,475,738. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new stake in GoDaddy during the 4th quarter worth approximately $1,972,000. Victory Capital Management Inc. raised its stake in GoDaddy by 0.9% in the 4th quarter. Victory Capital Management Inc. now owns 77,216 shares of the technology company’s stock worth $8,197,000 after acquiring an additional 699 shares during the last quarter. Natixis Advisors L.P. lifted its position in GoDaddy by 7.3% during the 4th quarter. Natixis Advisors L.P. now owns 35,166 shares of the technology company’s stock worth $3,733,000 after acquiring an additional 2,398 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new stake in GoDaddy during the 4th quarter valued at about $127,000. Finally, Machina Capital S.A.S. acquired a new position in shares of GoDaddy in the fourth quarter valued at about $535,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $157.23 on Monday. The company’s fifty day moving average price is $151.46 and its 200-day moving average price is $135.28. GoDaddy has a one year low of $71.15 and a one year high of $167.65. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. The firm has a market capitalization of $22.43 billion, a price-to-earnings ratio of 13.05 and a beta of 1.14.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $0.63 EPS. On average, equities research analysts anticipate that GoDaddy will post 4.89 earnings per share for the current fiscal year.

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.