GoDaddy Inc. (NYSE:GDDY) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of GoDaddy Inc. (NYSE:GDDY) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $214.86.

GDDY has been the subject of several recent analyst reports. Wall Street Zen lowered GoDaddy from a “buy” rating to a “hold” rating in a report on Tuesday, May 13th. Royal Bank Of Canada reissued an “outperform” rating and issued a $225.00 target price on shares of GoDaddy in a research note on Monday, June 23rd. 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 research note on Monday, April 7th. Piper Sandler increased their target price on GoDaddy from $177.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. increased their target price on GoDaddy from $231.00 to $240.00 and gave the company an “overweight” rating in a research note on Tuesday, May 6th.

Insider Activity

In related news, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $179.68, for a total value of $89,840.00. Following the sale, the director directly owned 21,957 shares of the company’s stock, valued at $3,945,233.76. This trade represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Phontip Palitwanon sold 2,173 shares of the firm’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $177.87, for a total value of $386,511.51. Following the completion of the sale, the chief accounting officer directly owned 21,198 shares in the company, valued at $3,770,488.26. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,757 shares of company stock valued at $12,243,920. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

Several large investors have recently modified their holdings of GDDY. Cornerstone Planning Group LLC grew its stake in shares of GoDaddy by 123.4% in the first quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company’s stock worth $25,000 after purchasing an additional 79 shares during the last quarter. Bayforest Capital Ltd purchased a new stake in GoDaddy in the second quarter worth $26,000. Park Square Financial Group LLC purchased a new stake in GoDaddy in the first quarter worth $27,000. Private Trust Co. NA lifted its stake in GoDaddy by 591.3% in the first quarter. Private Trust Co. NA now owns 159 shares of the technology company’s stock worth $29,000 after acquiring an additional 136 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new stake in GoDaddy in the first quarter worth $30,000. 90.28% of the stock is owned by institutional investors.

GoDaddy Stock Up 0.0%

Shares of NYSE GDDY opened at $166.02 on Thursday. GoDaddy has a 12 month low of $140.51 and a 12 month high of $216.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 18.91. The firm has a market capitalization of $23.66 billion, a price-to-earnings ratio of 31.93 and a beta of 1.05. The business has a 50-day moving average of $176.38 and a 200-day moving average of $182.36.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 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 business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the firm posted $2.76 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. Sell-side analysts expect that GoDaddy will post 6.63 earnings per share for the current fiscal year.

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.