GoDaddy Inc. (NYSE:GDDY) Receives $214.86 Consensus Price Target from Analysts

GoDaddy Inc. (NYSE:GDDY) has received a consensus recommendation of “Moderate Buy” from the fourteen analysts that are covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $214.86.

A number of analysts have recently commented on the company. Piper Sandler upped their price objective on GoDaddy from $177.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Barclays dropped their price objective on GoDaddy from $243.00 to $235.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. Jefferies Financial Group dropped their price objective on GoDaddy from $200.00 to $185.00 and set a “hold” rating for the company in a report on Monday, April 7th. Citigroup dropped their price objective on GoDaddy from $260.00 to $234.00 and set a “buy” rating for the company in a report on Friday, April 25th. Finally, UBS Group upped their price objective on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, February 14th.

GoDaddy Stock Down 0.7%

GDDY stock opened at $178.39 on Wednesday. GoDaddy has a one year low of $135.73 and a one year high of $216.00. The company has a 50 day moving average price of $179.39 and a two-hundred day moving average price of $189.16. The stock has a market capitalization of $25.42 billion, a P/E ratio of 27.66 and a beta of 1.07. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.76 earnings per share. As a group, sell-side analysts expect that GoDaddy will post 6.63 EPS for the current year.

Insider Buying and Selling

In other GoDaddy news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total value of $89,925.00. Following the transaction, the director now owns 21,621 shares in the company, valued at $3,888,536.85. The trade was a 2.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total transaction of $539,550.00. Following the completion of the transaction, the chief executive officer now owns 443,947 shares in the company, valued at $79,843,867.95. This represents a 0.67% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 67,459 shares of company stock valued at $12,214,374. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in GoDaddy by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 18,134,214 shares of the technology company’s stock worth $3,266,697,000 after buying an additional 462,807 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of GoDaddy by 11.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company’s stock valued at $751,778,000 after purchasing an additional 395,160 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of GoDaddy by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company’s stock valued at $692,245,000 after purchasing an additional 90,810 shares in the last quarter. WCM Investment Management LLC raised its stake in shares of GoDaddy by 2.0% in the 1st quarter. WCM Investment Management LLC now owns 3,471,218 shares of the technology company’s stock valued at $620,931,000 after purchasing an additional 67,152 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of GoDaddy by 13.8% in the 1st quarter. Invesco Ltd. now owns 3,315,848 shares of the technology company’s stock valued at $597,317,000 after purchasing an additional 401,918 shares in the last quarter. 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.