GoDaddy (NYSE:GDDY) Reaches New 1-Year High – Time to Buy?

GoDaddy Inc. (NYSE:GDDY)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $190.95 and last traded at $190.95, with a volume of 1201 shares trading hands. The stock had previously closed at $190.12.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GDDY. B. Riley upped their target price on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Benchmark lifted their price target on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Piper Sandler lifted 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. Raymond James lifted their price target on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Barclays boosted their target price on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.31.

GoDaddy Stock Up 1.8 %

The firm has a market cap of $27.57 billion, a price-to-earnings ratio of 14.93 and a beta of 1.11. The firm’s fifty day moving average is $165.74 and its two-hundred day moving average is $152.83. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the business earned $0.89 earnings per share. GoDaddy’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, sell-side analysts expect that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the transaction, the chief financial officer now owns 101,286 shares in the company, valued at $16,686,868.50. This represents a 5.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total value of $500,730.00. Following the completion of the sale, the chief executive officer now directly owns 358,773 shares of the company’s stock, valued at approximately $59,882,801.43. The trade was a 0.83 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,845 shares of company stock worth $4,803,380. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

A number of large investors have recently added to or reduced their stakes in GDDY. Ashton Thomas Securities LLC bought a new stake in shares of GoDaddy in the third quarter valued at approximately $27,000. ORG Wealth Partners LLC bought a new stake in shares of GoDaddy in the third quarter valued at approximately $30,000. Transcendent Capital Group LLC bought a new stake in shares of GoDaddy in the second quarter valued at approximately $28,000. Anchor Investment Management LLC bought a new stake in shares of GoDaddy in the third quarter valued at approximately $31,000. Finally, ORG Partners LLC bought a new stake in shares of GoDaddy in the second quarter valued at approximately $32,000. Institutional investors 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.