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

GoDaddy Inc. (NYSE:GDDY) has earned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $164.08.

GDDY has been the topic of a number of research analyst reports. Cantor Fitzgerald initiated coverage on shares of GoDaddy in a report on Thursday. They issued a “neutral” rating and a $170.00 target price on the stock. Citigroup upped their target price on shares of GoDaddy from $150.00 to $165.00 and gave the company a “buy” rating in a report on Friday, May 31st. Royal Bank of Canada upped their target price on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, August 5th. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, Robert W. Baird upped their target price on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, August 2nd.

Insiders Place Their Bets

In other GoDaddy news, COO Roger Chen sold 4,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $559,160.00. Following the transaction, the chief operating officer now owns 192,632 shares in the company, valued at approximately $26,928,027.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction on Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, the director now owns 4,661 shares in the company, valued at approximately $734,620.21. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.79, for a total value of $559,160.00. Following the sale, the chief operating officer now owns 192,632 shares of the company’s stock, valued at $26,928,027.28. The disclosure for this sale can be found here. Insiders have sold a total of 29,368 shares of company stock worth $4,439,167 in the last quarter. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GDDY. Sanctuary Advisors LLC acquired a new stake in GoDaddy in the second quarter valued at approximately $1,097,000. Cetera Investment Advisers boosted its holdings in shares of GoDaddy by 10.9% during the 2nd quarter. Cetera Investment Advisers now owns 17,962 shares of the technology company’s stock valued at $2,509,000 after acquiring an additional 1,764 shares in the last quarter. Truist Financial Corp grew its position in GoDaddy by 1.1% during the 2nd quarter. Truist Financial Corp now owns 35,534 shares of the technology company’s stock worth $4,964,000 after acquiring an additional 393 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in GoDaddy in the 2nd quarter worth about $245,000. Finally, Invst LLC raised its position in GoDaddy by 4.8% in the second quarter. Invst LLC now owns 7,558 shares of the technology company’s stock valued at $1,069,000 after purchasing an additional 349 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Trading Down 2.0 %

Shares of NYSE:GDDY opened at $149.97 on Monday. The company’s 50-day moving average price is $152.06 and its two-hundred day moving average price is $135.56. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. GoDaddy has a one year low of $71.15 and a one year high of $167.65. The stock has a market capitalization of $21.40 billion, a PE ratio of 12.49 and a beta of 1.14.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the firm earned $0.63 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities analysts forecast that GoDaddy will post 4.89 EPS for the current fiscal year.

About GoDaddy

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.