GoDaddy (NYSE:GDDY) Trading Up 0.6% After Analyst Upgrade

GoDaddy Inc. (NYSE:GDDY) shares traded up 0.6% during mid-day trading on Wednesday after Robert W. Baird raised their price target on the stock from $200.00 to $225.00. Robert W. Baird currently has an outperform rating on the stock. GoDaddy traded as high as $189.86 and last traded at $188.50. 285,973 shares were traded during mid-day trading, a decline of 80% from the average session volume of 1,455,477 shares. The stock had previously closed at $187.40.

GDDY has been the topic of a number of other reports. Raymond James upped their price target on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Cantor Fitzgerald restated a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Piper Sandler raised their price objective 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. Finally, Barclays upped their target price on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Five 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’s stock. According to data from MarketBeat, GoDaddy has an average rating of “Moderate Buy” and a consensus price target of $173.31.

Insider Buying and Selling

In related news, CAO Nick Daddario sold 2,976 shares of GoDaddy stock in a transaction on Monday, September 9th. The shares were sold at an average price of $151.61, for a total transaction of $451,191.36. Following the sale, the chief accounting officer now directly owns 14,728 shares in the company, valued at $2,232,912.08. This trade represents a 16.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $183.80, for a total transaction of $183,800.00. Following the completion of the sale, the chief operating officer now directly owns 185,632 shares of the company’s stock, valued at approximately $34,119,161.60. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,845 shares of company stock worth $4,803,380. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Institutional investors have recently bought and sold shares of the company. UniSuper Management Pty Ltd raised its position in GoDaddy by 72.7% in the first quarter. UniSuper Management Pty Ltd now owns 1,900 shares of the technology company’s stock worth $225,000 after acquiring an additional 800 shares in the last quarter. Sheaff Brock Investment Advisors LLC acquired a new stake in shares of GoDaddy in the first quarter valued at about $368,000. Epoch Investment Partners Inc. boosted its holdings in GoDaddy by 3.1% during the first quarter. Epoch Investment Partners Inc. now owns 433,983 shares of the technology company’s stock worth $51,505,000 after buying an additional 13,136 shares in the last quarter. Lazard Asset Management LLC increased its holdings in GoDaddy by 2.0% in the first quarter. Lazard Asset Management LLC now owns 330,776 shares of the technology company’s stock valued at $39,256,000 after buying an additional 6,598 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of GoDaddy by 94.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after acquiring an additional 1,775,708 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Stock Performance

The company has a market capitalization of $27.07 billion, a price-to-earnings ratio of 14.90 and a beta of 1.11. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The stock’s 50-day moving average price is $164.93 and its 200-day moving average price is $152.55.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. 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 previous year, the company posted $0.89 EPS. The business’s revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts expect that GoDaddy Inc. will post 4.95 earnings per share for the current year.

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.