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

Shares of GoDaddy Inc. (NYSE:GDDY) have received an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $181.1429.

GDDY has been the topic of several analyst reports. Raymond James Financial restated a “strong-buy” rating on shares of GoDaddy in a report on Friday, October 31st. Wells Fargo & Company dropped their target price on shares of GoDaddy from $157.00 to $145.00 and set an “equal weight” rating for the company in a research report on Monday, October 6th. Benchmark reissued a “buy” rating on shares of GoDaddy in a research note on Thursday, December 4th. B. Riley decreased their price objective on GoDaddy from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of GoDaddy in a report on Friday, October 31st.

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 6,932 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $886,880.08. Following the sale, the chief executive officer directly owned 399,133 shares in the company, valued at $51,065,076.02. This trade represents a 1.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $133.11, for a total transaction of $66,555.00. Following the transaction, the director directly owned 19,957 shares in the company, valued at $2,656,476.27. The trade was a 2.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 14,615 shares of company stock valued at $1,877,942. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hemington Wealth Management raised its stake in GoDaddy by 85.9% during the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after buying an additional 85 shares during the period. Bayforest Capital Ltd acquired a new position in GoDaddy in the second quarter valued at about $26,000. NewSquare Capital LLC increased its holdings in shares of GoDaddy by 170.9% in the second quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after acquiring an additional 94 shares in the last quarter. Root Financial Partners LLC bought a new stake in shares of GoDaddy in the third quarter worth about $31,000. Finally, Brown Brothers Harriman & Co. raised its position in shares of GoDaddy by 145.6% during the third quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock worth $35,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Price Performance

Shares of GDDY stock opened at $127.35 on Friday. The stock has a 50-day moving average price of $129.02 and a 200 day moving average price of $147.47. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 41.06. The firm has a market cap of $17.21 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 1.42 and a beta of 0.95. GoDaddy has a 12 month low of $121.94 and a 12 month high of $216.00.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the company posted $1.32 EPS. The company’s revenue was up 10.3% compared to the same quarter last year. Research analysts expect that GoDaddy will post 6.63 EPS for the current year.

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.