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

GoDaddy Inc. (NYSE:GDDY) has been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $142.73.

GDDY has been the subject of several recent research reports. Benchmark reaffirmed a “buy” rating and set a $150.00 target price on shares of GoDaddy in a report on Wednesday. Piper Sandler boosted their price target on shares of GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Morgan Stanley increased their price objective on shares of GoDaddy from $132.00 to $137.00 and gave the company an “equal weight” rating in a report on Friday. JPMorgan Chase & Co. boosted their target price on shares of GoDaddy from $128.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Finally, Barclays upped their price target on shares of GoDaddy from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday.

GoDaddy Stock Down 0.6 %

NYSE:GDDY opened at $123.64 on Tuesday. The firm has a market capitalization of $17.62 billion, a P/E ratio of 10.27 and a beta of 1.09. The company’s fifty day moving average price is $119.99 and its 200-day moving average price is $106.65. GoDaddy has a 1-year low of $67.43 and a 1-year high of $127.99. The company has a debt-to-equity ratio of 61.07, a current ratio of 0.47 and a quick ratio of 0.47.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.05. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a negative return on equity of 102.82% and a net margin of 40.38%. As a group, equities research analysts anticipate that GoDaddy will post 4.93 EPS for the current year.

Insider Buying and Selling at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 59,608 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $110.54, for a total value of $6,589,068.32. Following the completion of the sale, the chief executive officer now owns 394,423 shares of the company’s stock, valued at approximately $43,599,518.42. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other GoDaddy news, CEO Amanpal Singh Bhutani sold 59,608 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $6,589,068.32. Following the completion of the transaction, the chief executive officer now owns 394,423 shares of the company’s stock, valued at $43,599,518.42. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $122.60, for a total transaction of $490,400.00. Following the completion of the sale, the chief operating officer now directly owns 200,632 shares in the company, valued at $24,597,483.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,234 shares of company stock worth $14,025,346. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

A number of hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new position in shares of GoDaddy in the 4th quarter valued at $28,000. GAMMA Investing LLC increased its stake in GoDaddy by 102.3% in the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after purchasing an additional 133 shares in the last quarter. Frazier Financial Advisors LLC acquired a new stake in GoDaddy in the 4th quarter valued at about $33,000. Massmutual Trust Co. FSB ADV increased its holdings in GoDaddy by 140.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock valued at $37,000 after acquiring an additional 205 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new stake in GoDaddy during the 3rd quarter valued at $43,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

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.