GoDaddy (NYSE:GDDY) Receives Buy Rating from Benchmark

Benchmark reiterated their buy rating on shares of GoDaddy (NYSE:GDDY) in a report issued on Tuesday, Benzinga reports. Benchmark currently has a $186.00 price target on the technology company’s stock.

Other analysts have also recently issued reports about the company. Cantor Fitzgerald restated a neutral rating and issued a $170.00 price target on shares of GoDaddy in a research note on Monday, October 7th. B. Riley raised their price objective on GoDaddy from $143.00 to $170.00 and gave the stock a buy rating in a report on Friday, July 12th. StockNews.com lowered GoDaddy from a strong-buy rating to a buy rating in a report on Wednesday, August 7th. Robert W. Baird raised their price objective on GoDaddy from $175.00 to $190.00 and gave the stock an outperform rating in a report on Friday, August 2nd. Finally, Piper Sandler reaffirmed a neutral rating and set a $172.00 price objective (up previously from $160.00) on shares of GoDaddy in a report on Monday, September 23rd. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $166.54.

GoDaddy Stock Down 0.7 %

GoDaddy stock opened at $162.89 on Tuesday. GoDaddy has a 1-year low of $71.15 and a 1-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 stock has a market cap of $23.24 billion, a PE ratio of 13.53 and a beta of 1.12. The stock’s fifty day moving average is $158.62 and its two-hundred day moving average is $143.89.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results 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). GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the business earned $0.63 earnings per share. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts expect that GoDaddy will post 5.07 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the sale, the director now owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total transaction of $585,920.00. Following the completion of the sale, the chief operating officer now directly owns 188,632 shares in the company, valued at approximately $27,630,815.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the sale, the director now owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,744 shares of company stock valued at $4,950,771. 0.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GoDaddy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Plato Investment Management Ltd raised its position in shares of GoDaddy by 2,471.0% during the 1st quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock worth $769,000 after purchasing an additional 6,227 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of GoDaddy by 20.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock worth $25,469,000 after purchasing an additional 35,703 shares during the last quarter. Forsta AP Fonden raised its position in shares of GoDaddy by 87.5% during the 1st quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock worth $9,969,000 after purchasing an additional 39,200 shares during the last quarter. Swedbank AB raised its position in shares of GoDaddy by 3.5% during the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock worth $21,425,000 after purchasing an additional 5,247 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of GoDaddy by 866.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,335 shares of the technology company’s stock worth $1,227,000 after purchasing an additional 9,266 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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.