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

Shares of GoDaddy Inc. (NYSE:GDDY) have earned a consensus rating of “Moderate Buy” from the fifteen research firms that are presently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $131.9286.

GDDY has been the subject of a number of recent research reports. Benchmark dropped their price objective on shares of GoDaddy from $240.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Wells Fargo & Company dropped their target price on GoDaddy from $145.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 25th. Morgan Stanley reduced their target price on GoDaddy from $159.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. Barclays decreased their target price 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, Cantor Fitzgerald cut their price target on GoDaddy from $130.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th.

GoDaddy Trading Up 5.2%

GoDaddy stock opened at $93.26 on Friday. GoDaddy has a 52-week low of $73.06 and a 52-week high of $193.55. The company has a market cap of $12.60 billion, a P/E ratio of 14.97, a P/E/G ratio of 0.81 and a beta of 0.96. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 17.50. The business has a 50-day simple moving average of $101.89 and a two-hundred day simple moving average of $123.42.

GoDaddy (NYSE:GDDY) last released its earnings results on Tuesday, February 24th. The technology company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.22. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter last year, the business earned $1.36 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. Analysts predict that GoDaddy will post 6.63 EPS for the current year.

Insider Activity at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 34,148 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total value of $3,038,830.52. Following the completion of the transaction, the chief executive officer owned 530,120 shares of the company’s stock, valued at $47,175,378.80. The trade was a 6.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Phontip Palitwanon sold 2,397 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $128.44, for a total transaction of $307,870.68. Following the completion of the transaction, the chief accounting officer owned 17,055 shares of the company’s stock, valued at approximately $2,190,544.20. This represents a 12.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 63,005 shares of company stock worth $5,690,243. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of GoDaddy

Several institutional investors have recently modified their holdings of GDDY. Hemington Wealth Management raised its holdings in GoDaddy by 85.9% in the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after acquiring an additional 85 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of GoDaddy by 4.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company’s stock worth $258,000 after acquiring an additional 86 shares during the last quarter. Penserra Capital Management LLC lifted its stake in GoDaddy by 14.0% during the second quarter. Penserra Capital Management LLC now owns 748 shares of the technology company’s stock worth $134,000 after purchasing an additional 92 shares in the last quarter. NewSquare Capital LLC boosted its holdings in GoDaddy by 170.9% during the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock valued at $27,000 after acquiring an additional 94 shares during the period. Finally, MAI Capital Management boosted its stake in shares of GoDaddy by 9.7% in the second quarter. MAI Capital Management now owns 1,127 shares of the technology company’s stock valued at $203,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy News Roundup

Here are the key news stories impacting GoDaddy this week:

• Positive Sentiment: GoDaddy reported a February-quarter earnings beat (EPS above consensus) and year-over-year revenue growth, reinforcing the company’s fundamentals and likely supporting buying interest.
• Neutral Sentiment: Coverage pieces continue to feature GoDaddy among growth-stock discussions, keeping the name on investors’ radars but not delivering a clear directional catalyst. 2 Top Growth Stocks to Buy, And 1 to Sell Right Away
• Negative Sentiment: Evercore ISI trimmed its price target to $95 and kept an In Line rating, which signals more muted upside from some sell-side desks and may cap near-term gains. Evercore ISI Lowers its Price Target on GoDaddy Inc. (GDDY) to $95 and Maintains an In Line Rating
• Negative Sentiment: Multiple insiders sold stock this week — including CEO Amanpal Singh Bhutani, CFO Mark McCaffrey, the CAO and a director — representing meaningful reductions in holdings (largest single sale: CEO sold 34,148 shares). Heavy insider selling can pressure sentiment and raise questions about near-term insider conviction. SEC filings and disclosures: CEO Form 4 CFO Form 4 CAO Form 4 Insider Trades Alert

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.