GoDaddy’s (GDDY) “Outperform” Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reissued their outperform rating on shares of GoDaddy (NYSE:GDDY) in a report issued on Monday morning,Benzinga reports. Royal Bank Of Canada currently has a $225.00 price objective on the technology company’s stock.

GDDY has been the topic of several other reports. Barclays reduced their target price on GoDaddy from $243.00 to $235.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. Jefferies Financial Group reduced their target price on GoDaddy from $200.00 to $185.00 and set a “hold” rating on the stock in a report on Monday, April 7th. Wall Street Zen lowered shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Piper Sandler increased their price objective on shares of GoDaddy from $177.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Finally, Benchmark reiterated a “buy” rating on shares of GoDaddy in a research report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and an average price target of $214.86.

GoDaddy Price Performance

NYSE:GDDY opened at $177.54 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 18.91. The business’s 50-day simple moving average is $181.12 and its two-hundred day simple moving average is $187.42. The stock has a market cap of $25.30 billion, a PE ratio of 34.14 and a beta of 1.07. GoDaddy has a 52 week low of $138.48 and a 52 week high of $216.00.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.08). GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the firm posted $2.76 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, analysts forecast that GoDaddy will post 6.63 EPS for the current fiscal year.

Insider Activity

In other GoDaddy news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total transaction of $89,925.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing 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 Thursday, May 1st. The shares were sold at an average price of $190.86, for a total value of $572,580.00. Following the transaction, the chief executive officer now owns 440,947 shares of the company’s stock, valued at $84,159,144.42. This trade represents a 0.68% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,632 shares of company stock valued at $12,602,635. 0.61% of the stock is currently owned by insiders.

Institutional Trading of GoDaddy

A number of large investors have recently modified their holdings of the company. Advisors Capital Management LLC boosted its holdings in shares of GoDaddy by 0.9% in the fourth quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company’s stock valued at $1,223,000 after purchasing an additional 55 shares during the period. BNP Paribas boosted its holdings in shares of GoDaddy by 2.9% in the fourth quarter. BNP Paribas now owns 2,111 shares of the technology company’s stock valued at $417,000 after purchasing an additional 59 shares during the period. City Holding Co. boosted its holdings in shares of GoDaddy by 30.0% in the first quarter. City Holding Co. now owns 260 shares of the technology company’s stock valued at $47,000 after purchasing an additional 60 shares during the period. Lake Street Advisors Group LLC boosted its holdings in shares of GoDaddy by 4.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock valued at $283,000 after purchasing an additional 64 shares during the period. Finally, Equitable Trust Co. boosted its holdings in shares of GoDaddy by 1.0% in the first quarter. Equitable Trust Co. now owns 6,657 shares of the technology company’s stock valued at $1,199,000 after purchasing an additional 64 shares during the period. Hedge funds and other 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.