GoDaddy Inc. (GDDY) - What Are Investment Firms Saying About This Stock?

Key Points

• Analysts have a consensus “Hold” rating on GoDaddy: nine recommend buying, eight holding, and one selling. Their average 12-month price target is $113.62.
• GoDaddy beat quarterly earnings expectations, posting EPS of $2.08 versus $1.90 expected, and revenue of $1.34 billion versus $1.33 billion; revenue grew 6.1% year over year.
• Institutional investors own 90.28% of GoDaddy’s shares, while company insiders own 0.93%; insiders sold 29,742 shares worth about $3.1 million in the last quarter.

Shares of GoDaddy Inc. (NYSE:GDDY - Get Free Report) have earned an average recommendation of "Hold" from the eighteen brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $113.62.

A number of research analysts recently commented on the stock. Piper Sandler reaffirmed a "neutral" rating and issued a $95.00 price target (up from $93.00) on shares of GoDaddy in a report on Friday, July 31st. Raymond James Financial lowered GoDaddy from a "strong-buy" rating to an "outperform" rating and set a $100.00 target price for the company. in a research report on Friday, July 31st. Weiss Ratings raised GoDaddy from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 13th. Benchmark reduced their price target on GoDaddy from $185.00 to $140.00 and set a "buy" rating on the stock in a report on Friday, July 31st. Finally, UBS Group raised their price target on GoDaddy from $100.00 to $112.00 and gave the stock a "neutral" rating in a research note on Friday, October 30th.

Insider Transactions at GoDaddy

In other GoDaddy news, CFO Mark McCaffrey sold 5,873 shares of GoDaddy stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $100.91, for a total transaction of $592,644.43. Following the completion of the sale, the chief financial officer directly owned 99,855 shares of the company's stock, valued at $10,076,368.05. The trade was a 5.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Leah Sweet sold 645 shares of GoDaddy stock in a transaction on Friday, November 6th. The shares were sold at an average price of $116.67, for a total value of $75,252.15. Following the sale, the director directly owned 13,044 shares of the company's stock, valued at approximately $1,521,843.48. This trade represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 29,742 shares of company stock valued at $3,055,425. Company insiders own 0.93% of the company's stock.

Hedge Funds Weigh In On GoDaddy

Institutional investors have recently made changes to their positions in the company. Diamond Hill Capital Management LLC Investment Advisor bought a new position in GoDaddy during the 2nd quarter worth about $28,938,000. Bank of America Corp DE lifted its position in shares of GoDaddy by 27.9% in the 1st quarter. Bank of America Corp DE now owns 1,383,615 shares of the technology company's stock worth $114,383,000 after purchasing an additional 302,126 shares during the period. Rice Hall James & Associates LLC lifted its position in shares of GoDaddy by 1,218.1% in the 1st quarter. Rice Hall James & Associates LLC now owns 319,453 shares of the technology company's stock worth $26,409,000 after purchasing an additional 295,218 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of GoDaddy in the 2nd quarter worth approximately $24,929,000. Finally, Russell Investments Group Ltd. lifted its position in shares of GoDaddy by 32.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,020,714 shares of the technology company's stock worth $97,322,000 after purchasing an additional 248,694 shares during the period. Hedge funds and other institutional investors own 90.28% of the company's stock.

GoDaddy Price Performance

GDDY stock opened at $113.40 on Wednesday. GoDaddy has a one year low of $71.59 and a one year high of $133.34. The company's fifty day moving average price is $103.90 and its 200-day moving average price is $92.47. The company has a debt-to-equity ratio of 561.10, a quick ratio of 0.61 and a current ratio of 0.61. The company has a market capitalization of $13.75 billion, a PE ratio of 15.51 and a beta of 0.94.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The technology company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.90 by $0.18. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. GoDaddy had a net margin of 18.56% and a return on equity of 1,200.87%. The business's revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.51 EPS. On average, equities analysts anticipate that GoDaddy will post 7.48 EPS for the current fiscal year.

About GoDaddy

GoDaddy is a technology company that helps individuals, entrepreneurs and small businesses establish and manage an online presence. Its services include domain-name registration and management, web hosting, website-building tools and professional email. The company also offers tools for online commerce, digital marketing and website security, helping customers build and operate websites and connect with customers online. Founded in 1997 as Jomax Technologies, it later adopted the GoDaddy name and serves customers around the world.

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