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

GoDaddy Inc. (NYSE:GDDY) has been given a consensus rating of “Moderate Buy” by the fifteen research firms that are covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $118.4286.

Several research firms recently commented on GDDY. Royal Bank Of Canada dropped their target price on GoDaddy from $200.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Jefferies Financial Group lowered their price target on GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a research report on Monday, February 23rd. UBS Group initiated coverage on GoDaddy in a research report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 price target for the company. Barclays lowered their price target on GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of GoDaddy in a research report on Tuesday.

GoDaddy Stock Performance

GoDaddy stock opened at $76.92 on Friday. The firm has a market capitalization of $10.18 billion, a P/E ratio of 12.17, a PEG ratio of 0.70 and a beta of 0.90. The stock has a fifty day moving average price of $84.96 and a 200 day moving average price of $96.24. GoDaddy has a 52 week low of $71.59 and a 52 week high of $181.49. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.53 by $0.07. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.51 earnings per share. Equities research analysts anticipate that GoDaddy will post 7.14 earnings per share for the current year.

Insider Transactions at GoDaddy

In other GoDaddy news, CAO Phontip Palitwanon sold 542 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction of $48,704.12. Following the completion of the sale, the chief accounting officer owned 19,995 shares of the company’s stock, valued at approximately $1,796,750.70. The trade was a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sigal Zarmi sold 350 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $87.84, for a total value of $30,744.00. Following the sale, the director directly owned 5,708 shares of the company’s stock, valued at approximately $501,390.72. This trade represents a 5.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,751 shares of company stock worth $1,480,228 in the last three months. 0.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GoDaddy

A number of institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. raised its position in shares of GoDaddy by 130.5% during the 3rd quarter. American Century Companies Inc. now owns 151,432 shares of the technology company’s stock worth $20,720,000 after purchasing an additional 85,733 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of GoDaddy during the 3rd quarter worth approximately $30,575,000. Northwestern Mutual Wealth Management Co. raised its position in shares of GoDaddy by 22,341.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 117,142 shares of the technology company’s stock worth $14,535,000 after purchasing an additional 116,620 shares during the period. Swedbank AB raised its position in shares of GoDaddy by 433.9% during the 4th quarter. Swedbank AB now owns 645,754 shares of the technology company’s stock worth $80,125,000 after purchasing an additional 524,811 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of GoDaddy by 5.7% during the 4th quarter. BNP Paribas Financial Markets now owns 945,202 shares of the technology company’s stock worth $117,281,000 after purchasing an additional 50,959 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.