GoDaddy (NYSE:GDDY) Stock Price Up 4.5% – Time to Buy?

GoDaddy Inc. (NYSE:GDDY)’s stock price shot up 4.5% during mid-day trading on Friday . The company traded as high as $92.50 and last traded at $91.5580. Approximately 77,052 shares were traded during mid-day trading, a decline of 97% from the average session volume of 2,292,140 shares. The stock had previously closed at $87.62.

GoDaddy News Summary

Here are the key news stories impacting GoDaddy this week:

• Positive Sentiment: Several recent articles highlight GoDaddy’s valuation as potentially attractive after its sharp pullback, with some coverage arguing the stock may be mispriced and pointing to improving long-term fundamentals. GoDaddy (NYSE:GDDY) Looks Mispriced After Its Steep Drop
• Positive Sentiment: Investor interest is also being supported by expectations for upcoming earnings, with some analysts still projecting revenue and earnings growth ahead of GoDaddy’s next report. GoDaddy (GDDY) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Positive Sentiment: GoDaddy has also drawn attention for its developer-platform push, which some articles frame as a potential catalyst if the strategy expands the company’s growth opportunities. GoDaddy’s Pricing Misstep and Developer Push Could Be A Game Changer For GoDaddy (GDDY)
• Neutral Sentiment: GoDaddy released its quarterly results recently, and the company previously beat analyst estimates on earnings and revenue, which continues to anchor investor expectations heading into the next report. GoDaddy (GDDY) Launches Developer Platform As Fair Value Narrative Stays In Focus
• Negative Sentiment: Multiple law firms, including Rosen Law Firm and Kaplan Fox & Kilsheimer, announced or reiterated investigations into possible securities-law violations and potentially misleading disclosures at GoDaddy, increasing legal overhang and uncertainty for shareholders. ROSEN, TRUSTED INVESTOR COUNSEL, Encourages GoDaddy Inc. Investors to Inquire About Securities Class Action Investigation – GDDY

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GDDY shares. Benchmark decreased their price target on GoDaddy from $195.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. JPMorgan Chase & Co. dropped their price objective on shares of GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a research note on Thursday, June 18th. Wells Fargo & Company upped their price objective on shares of GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. UBS Group initiated coverage on shares of GoDaddy in a report on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 target price on the stock. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of GoDaddy in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.43.

GoDaddy Trading Up 6.2%

The company has a debt-to-equity ratio of 15.86, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market cap of $12.32 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 0.84 and a beta of 0.89. The business’s 50-day moving average price is $86.03 and its two-hundred day moving average price is $89.47.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. GoDaddy’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.51 earnings per share. Equities analysts expect that GoDaddy Inc. will post 7.15 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In related news, CAO Phontip Palitwanon sold 542 shares of GoDaddy stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $48,704.12. Following the transaction, the chief accounting officer owned 19,995 shares in the company, valued at approximately $1,796,750.70. The trade was a 2.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Amanpal Singh Bhutani sold 8,373 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction of $752,397.78. Following the sale, the chief executive officer directly owned 521,747 shares of the company’s stock, valued at approximately $46,884,185.42. This trade represents a 1.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 16,751 shares of company stock worth $1,480,228. 0.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GoDaddy

Several institutional investors and hedge funds have recently modified their holdings of GDDY. Trust Asset Management LLC purchased a new stake in shares of GoDaddy during the second quarter valued at approximately $127,000. Tema ETFs LLC boosted its stake in shares of GoDaddy by 22.6% in the second quarter. Tema ETFs LLC now owns 2,585 shares of the technology company’s stock valued at $219,000 after purchasing an additional 476 shares during the period. Handelsbanken Fonder AB boosted its stake in shares of GoDaddy by 10.1% in the second quarter. Handelsbanken Fonder AB now owns 42,500 shares of the technology company’s stock valued at $3,607,000 after purchasing an additional 3,900 shares during the period. Perkins Coie Trust Co acquired a new stake in GoDaddy during the 2nd quarter valued at $34,000. Finally, Czech National Bank grew its holdings in GoDaddy by 2.4% during the 2nd quarter. Czech National Bank now owns 37,689 shares of the technology company’s stock valued at $3,199,000 after purchasing an additional 884 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

About GoDaddy

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.