GoDaddy Inc. (NYSE:GDDY) Receives Average Rating of “Moderate Buy” from Analysts

GoDaddy Inc. (NYSE:GDDY) has earned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $214.86.

Several research firms have commented on GDDY. Citigroup cut their target price on GoDaddy from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Morgan Stanley reduced their target price on shares of GoDaddy from $228.00 to $206.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. B. Riley lifted their price target on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Royal Bank of Canada reduced their price objective on shares of GoDaddy from $230.00 to $225.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Finally, Barclays lowered their target price on GoDaddy from $243.00 to $235.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd.

GoDaddy Stock Performance

Shares of GDDY stock opened at $182.51 on Friday. The company has a market capitalization of $25.80 billion, a P/E ratio of 28.30 and a beta of 1.13. GoDaddy has a 52 week low of $131.84 and a 52 week high of $216.00. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The company’s 50 day moving average price is $177.00 and its two-hundred day moving average price is $187.84.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company posted $2.76 earnings per share. GoDaddy’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts expect that GoDaddy will post 6.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $90,330.00. Following the completion of the sale, the director now owns 22,121 shares of the company’s stock, valued at approximately $3,996,379.86. The trade was a 2.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $194.28, for a total transaction of $194,280.00. Following the completion of the transaction, the chief operating officer now owns 182,632 shares in the company, valued at $35,481,744.96. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,500 shares of company stock valued at $10,244,835. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. WCM Investment Management LLC grew its position in GoDaddy by 7,083.4% during the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock worth $678,941,000 after buying an additional 3,356,678 shares in the last quarter. Norges Bank acquired a new stake in shares of GoDaddy during the 4th quarter worth $356,038,000. Goldman Sachs Group Inc. increased its position in shares of GoDaddy by 257.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,236,850 shares of the technology company’s stock worth $402,946,000 after purchasing an additional 1,610,890 shares during the period. Assenagon Asset Management S.A. raised its stake in GoDaddy by 1,412.1% in the first quarter. Assenagon Asset Management S.A. now owns 1,347,434 shares of the technology company’s stock valued at $242,727,000 after purchasing an additional 1,258,324 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in GoDaddy by 107.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company’s stock worth $273,582,000 after purchasing an additional 719,000 shares during the period. Institutional investors and hedge funds 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.