GoDaddy Inc. (NYSE:GDDY) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of GoDaddy Inc. (NYSE:GDDY) have been assigned an average rating of “Moderate Buy” from the fourteen analysts that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $152.25.

A number of brokerages recently weighed in on GDDY. Robert W. Baird lifted their target price on GoDaddy from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Raymond James started coverage on GoDaddy in a research note on Wednesday, March 27th. They issued a “strong-buy” rating and a $150.00 target price for the company. B. Riley upped their target price on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday. Royal Bank of Canada upped their price target on GoDaddy from $124.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Finally, Barclays boosted their target price on shares of GoDaddy from $130.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd.

GoDaddy Trading Up 2.3 %

NYSE:GDDY opened at $145.33 on Friday. GoDaddy has a 1 year low of $69.18 and a 1 year high of $146.08. The stock has a market capitalization of $20.74 billion, a price-to-earnings ratio of 12.07 and a beta of 1.14. The stock has a fifty day moving average price of $138.69 and a two-hundred day moving average price of $122.85. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.55 and a current ratio of 0.55.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.08. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. As a group, sell-side analysts anticipate that GoDaddy will post 4.82 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Nick Daddario sold 523 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total transaction of $72,221.07. Following the completion of the sale, the chief accounting officer now owns 22,666 shares of the company’s stock, valued at $3,129,947.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Amanpal Singh Bhutani sold 4,500 shares of GoDaddy stock in a transaction on Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $629,055.00. Following the transaction, the chief executive officer now directly owns 365,398 shares of the company’s stock, valued at $51,078,986.42. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Nick Daddario sold 523 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total transaction of $72,221.07. Following the sale, the chief accounting officer now owns 22,666 shares in the company, valued at $3,129,947.94. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,071 shares of company stock valued at $6,875,606. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GDDY. Fiera Capital Corp boosted its holdings in shares of GoDaddy by 1.3% during the 4th quarter. Fiera Capital Corp now owns 828,124 shares of the technology company’s stock worth $87,914,000 after buying an additional 10,312 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of GoDaddy in the 4th quarter valued at $4,204,000. International Assets Investment Management LLC bought a new position in GoDaddy during the fourth quarter worth $1,972,000. Allspring Global Investments Holdings LLC boosted its stake in GoDaddy by 866.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,335 shares of the technology company’s stock worth $1,227,000 after acquiring an additional 9,266 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of GoDaddy by 644.6% during the fourth quarter. SG Americas Securities LLC now owns 149,643 shares of the technology company’s stock valued at $15,886,000 after buying an additional 129,547 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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.