GoDaddy Inc. (NYSE:GDDY) Receives $125.57 Average PT from Brokerages

GoDaddy Inc. (NYSE:GDDY) has received an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $125.5714.

Several brokerages have weighed in on GDDY. Piper Sandler started coverage on GoDaddy in a research report on Thursday, March 12th. They issued a “neutral” rating and a $93.00 target price on the stock. Wells Fargo & Company reduced their price target on GoDaddy from $145.00 to $77.00 and set an “equal weight” rating for the company in a 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. UBS Group dropped their price objective on GoDaddy from $145.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Finally, Citigroup cut their price objective on shares of GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th.

Insider Buying and Selling at GoDaddy

In other news, CAO Phontip Palitwanon sold 1,310 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $90.15, for a total transaction of $118,096.50. Following the transaction, the chief accounting officer owned 20,349 shares in the company, valued at approximately $1,834,462.35. This trade represents a 6.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leah Sweet sold 650 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $86.86, for a total transaction of $56,459.00. Following the completion of the sale, the director owned 11,414 shares of the company’s stock, valued at $991,420.04. This represents a 5.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 61,918 shares of company stock worth $5,500,469. Company insiders own 0.70% of the company’s stock.

Institutional Trading of GoDaddy

Large investors have recently made changes to their positions in the stock. Hemington Wealth Management increased its position in shares of 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 purchasing an additional 85 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in GoDaddy by 4.8% in the third quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company’s stock valued at $258,000 after buying an additional 86 shares in the last quarter. Clearstead Advisors LLC grew its stake in GoDaddy by 0.9% during the third quarter. Clearstead Advisors LLC now owns 12,324 shares of the technology company’s stock worth $1,686,000 after buying an additional 104 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in GoDaddy by 2.1% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,581 shares of the technology company’s stock worth $764,000 after buying an additional 113 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of GoDaddy by 0.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,247 shares of the technology company’s stock worth $2,907,000 after buying an additional 118 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Trading Down 1.7%

Shares of NYSE:GDDY opened at $84.54 on Friday. The firm has a fifty day moving average of $85.08 and a two-hundred day moving average of $107.64. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 17.50. GoDaddy has a 12-month low of $73.06 and a 12-month high of $193.55. The firm has a market capitalization of $11.27 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 0.80 and a beta of 0.98.

GoDaddy (NYSE:GDDY) last posted its quarterly 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 business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. GoDaddy’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.36 earnings per share. On average, equities analysts expect that GoDaddy will post 6.97 EPS for the current fiscal 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.