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

Shares of GoDaddy Inc. (NYSE:GDDY) have been assigned an average rating of “Moderate Buy” from the fifteen ratings firms that are covering the stock, MarketBeat reports. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $125.5714.

GDDY has been the topic of several research reports. Wells Fargo & Company decreased their price target on shares of GoDaddy from $145.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GoDaddy in a report on Wednesday, January 28th. Cantor Fitzgerald decreased their target price on shares of GoDaddy from $130.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Raymond James Financial reissued a “strong-buy” rating and issued a $100.00 price target on shares of GoDaddy in a research note on Wednesday, February 25th. Finally, Jefferies Financial Group cut their price target on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a research report on Monday, February 23rd.

GoDaddy Price Performance

Shares of GoDaddy stock opened at $81.86 on Tuesday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 17.50. The firm has a market capitalization of $10.92 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 0.71 and a beta of 0.96. The business’s 50-day moving average price is $91.02 and its 200-day moving average price is $115.67. GoDaddy has a 12 month low of $73.06 and a 12 month high of $193.55.

GoDaddy (NYSE:GDDY) last released its earnings results on Tuesday, February 24th. The technology company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.22. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. GoDaddy had a return on equity of 369.00% and a net margin of 17.67%.GoDaddy’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 EPS. Sell-side analysts forecast that GoDaddy will post 6.63 EPS for the current fiscal year.

Insider Buying and Selling

In other GoDaddy news, CFO Mark Mccaffrey sold 17,406 shares of GoDaddy stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total value of $1,548,959.94. Following the transaction, the chief financial officer directly owned 113,003 shares of the company’s stock, valued at $10,056,136.97. The trade was a 13.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Phontip Palitwanon sold 1,310 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $90.15, for a total value of $118,096.50. Following the completion of the sale, the chief accounting officer owned 20,349 shares of the company’s stock, valued at $1,834,462.35. The trade was a 6.05% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 61,918 shares of company stock worth $5,500,469. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in 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 worth $25,000 after purchasing an additional 85 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of GoDaddy during the fourth quarter valued at about $25,000. Rachor Investment Advisory Services LLC bought a new position in GoDaddy in the fourth quarter worth about $25,000. Activest Wealth Management raised its stake in GoDaddy by 6,600.0% in the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock worth $25,000 after buying an additional 198 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new stake in GoDaddy in the third quarter worth about $31,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

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.