GoDaddy Inc. (NYSE:GDDY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of GoDaddy Inc. (NYSE:GDDY) have been assigned an average rating of “Moderate Buy” from the fourteen brokerages that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $166.54.

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Raymond James upped their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Benchmark reissued a “buy” rating and set a $186.00 target price on shares of GoDaddy in a research note on Tuesday, October 15th. Piper Sandler reaffirmed a “neutral” rating and set a $172.00 price target (up previously from $160.00) on shares of GoDaddy in a research report on Monday, September 23rd. Finally, B. Riley lifted their price objective on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, July 12th.

GoDaddy Stock Performance

NYSE GDDY opened at $163.93 on Tuesday. GoDaddy has a 1 year low of $71.15 and a 1 year high of $167.65. The firm’s 50 day simple moving average is $159.25 and its 200 day simple moving average is $145.06. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. The firm has a market capitalization of $23.39 billion, a price-to-earnings ratio of 13.62 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.06). The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 earnings per share. As a group, research analysts expect that GoDaddy will post 5.07 earnings per share for the current fiscal year.

Insider Transactions at GoDaddy

In other news, Director Sigal Zarmi sold 400 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the sale, the director now owns 4,661 shares in the company, valued at $734,620.21. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $146.48, for a total value of $439,440.00. Following the transaction, the chief executive officer now directly owns 362,398 shares of the company’s stock, valued at approximately $53,084,059.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was 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 $734,620.21. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,744 shares of company stock valued at $5,114,931 over the last ninety days. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC raised its holdings in shares of GoDaddy by 13.7% in the 3rd quarter. Signaturefd LLC now owns 2,819 shares of the technology company’s stock worth $442,000 after purchasing an additional 339 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of GoDaddy in the third quarter valued at $293,000. Western Financial Corp CA purchased a new stake in GoDaddy during the third quarter valued at about $977,000. Carolina Wealth Advisors LLC bought a new position in GoDaddy in the 3rd quarter worth approximately $49,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of GoDaddy by 47.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 233,099 shares of the technology company’s stock worth $36,545,000 after acquiring an additional 75,382 shares during the period. 90.28% of the stock is owned by institutional investors.

GoDaddy Company Profile

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.