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

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

Several analysts have issued reports on GDDY shares. Morgan Stanley decreased their price target on shares of GoDaddy from $228.00 to $206.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Piper Sandler raised their price target on shares of GoDaddy from $177.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Wall Street Zen lowered shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Citigroup decreased their price target on shares of GoDaddy from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Finally, Benchmark restated a “buy” rating on shares of GoDaddy in a research report on Monday, April 28th.

GoDaddy Stock Performance

NYSE:GDDY opened at $180.19 on Friday. GoDaddy has a 1 year low of $138.48 and a 1 year high of $216.00. The firm’s fifty day simple moving average is $181.41 and its 200 day simple moving average is $186.93. 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 $25.67 billion, a PE ratio of 34.65 and a beta of 1.07.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the business posted $2.76 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts anticipate that GoDaddy will post 6.63 EPS for the current year.

Insider Transactions at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $175.96, for a total transaction of $175,960.00. Following the completion of the transaction, the chief operating officer now directly owns 254,949 shares of the company’s stock, valued at $44,860,826.04. This trade represents a 0.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total transaction of $89,925.00. Following the transaction, the director now directly owns 21,621 shares of the company’s stock, valued at $3,888,536.85. This represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 69,632 shares of company stock valued at $12,602,635. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Several institutional investors have recently added to or reduced their stakes in GDDY. Atria Wealth Solutions Inc. bought a new position in GoDaddy during the 4th quarter valued at about $220,000. Global Retirement Partners LLC increased its position in GoDaddy by 31.1% in the 4th quarter. Global Retirement Partners LLC now owns 392 shares of the technology company’s stock valued at $77,000 after acquiring an additional 93 shares in the last quarter. Private Advisor Group LLC increased its position in GoDaddy by 6.8% in the 4th quarter. Private Advisor Group LLC now owns 2,335 shares of the technology company’s stock valued at $461,000 after acquiring an additional 148 shares in the last quarter. Lake Street Advisors Group LLC increased its position in GoDaddy by 4.7% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock valued at $283,000 after acquiring an additional 64 shares in the last quarter. Finally, New York Life Investment Management LLC increased its position in GoDaddy by 0.4% in the 4th quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company’s stock valued at $3,708,000 after acquiring an additional 71 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

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.