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

GoDaddy Inc. (NYSE:GDDY) has received a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $198.07.

GDDY has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and set a $230.00 price target (up from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company started coverage on shares of GoDaddy in a research report on Monday. They issued an “equal weight” rating and a $198.00 target price for the company.

Insider Activity

In related news, CAO Phontip Palitwanon sold 770 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total value of $151,412.80. Following the completion of the transaction, the chief accounting officer now directly owns 23,059 shares of the company’s stock, valued at $4,534,321.76. This represents a 3.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $179.00, for a total transaction of $89,500.00. Following the completion of the sale, the director now owns 24,121 shares in the company, valued at approximately $4,317,659. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,483 shares of company stock valued at $4,256,183. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

A number of institutional investors have recently made changes to their positions in GDDY. Ashton Thomas Securities LLC purchased a new stake in GoDaddy in the third quarter worth approximately $27,000. ORG Wealth Partners LLC bought a new stake in shares of GoDaddy during the 3rd quarter valued at $30,000. Anchor Investment Management LLC bought a new stake in GoDaddy in the 3rd quarter valued at $31,000. Versant Capital Management Inc purchased a new position in shares of GoDaddy in the 4th quarter worth $43,000. Finally, Huntington National Bank grew its stake in shares of GoDaddy by 298.7% in the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after buying an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

GDDY stock opened at $212.65 on Thursday. The company has a market capitalization of $29.85 billion, a P/E ratio of 16.43 and a beta of 1.15. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. GoDaddy has a 52-week low of $107.47 and a 52-week high of $216.00. The business has a 50-day simple moving average of $202.89 and a two-hundred day simple moving average of $175.88.

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.