GoDaddy Inc. (NYSE:GDDY) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Analysts rate GoDaddy “Hold” on average: Of 18 firms, nine recommend buying, eight advise holding, and one rates the stock a sell. The average 12-month price target is $110.07.
• Several brokerages recently lowered their price targets, including Benchmark, B. Riley Financial, Citigroup, and JPMorgan, although most maintained buy or overweight ratings.
• GoDaddy exceeded quarterly expectations, reporting $1.83 in EPS versus the $1.69 consensus and $1.30 billion in revenue, up 6.6% year over year. Insiders sold $2.59 million of shares over the past three months, while institutional investors own 90.28% of the stock.

Shares of GoDaddy Inc. (NYSE:GDDY - Get Free Report) have earned an average recommendation of "Hold" from the eighteen ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $110.0667.

Several brokerages recently commented on GDDY. Benchmark cut their price target on shares of GoDaddy from $185.00 to $140.00 and set a "buy" rating on the stock in a research note on Friday, July 31st. Piper Sandler reaffirmed a "neutral" rating and set a $95.00 price objective (up from $93.00) on shares of GoDaddy in a report on Friday, July 31st. Citigroup reduced their target price on GoDaddy from $110.00 to $105.00 and set a "buy" rating for the company in a report on Monday, August 3rd. B. Riley Financial dropped their price target on GoDaddy from $190.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. reduced their price objective on GoDaddy from $154.00 to $124.00 and set an "overweight" rating for the company in a research note on Thursday, June 18th.

Insider Activity at GoDaddy

In other GoDaddy news, CEO Amanpal Bhutani sold 8,194 shares of GoDaddy stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $101.19, for a total value of $829,150.86. Following the transaction, the chief executive officer directly owned 504,553 shares in the company, valued at approximately $51,055,718.07. The trade was a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 Sigal Zarmi sold 350 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $97.44, for a total transaction of $34,104.00. Following the sale, the director owned 8,283 shares of the company's stock, valued at $807,095.52. This trade represents a 4.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 26,858 shares of company stock worth $2,593,081 in the last three months. Company insiders own 0.93% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its position in GoDaddy by 5.7% in the 4th quarter. BNP Paribas Financial Markets now owns 945,202 shares of the technology company's stock valued at $117,281,000 after buying an additional 50,959 shares during the last quarter. Renaissance Technologies LLC raised its position in GoDaddy by 27.0% during the 1st quarter. Renaissance Technologies LLC now owns 553,300 shares of the technology company's stock worth $45,741,000 after buying an additional 117,800 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in GoDaddy during the 2nd quarter worth $28,938,000. Swiss National Bank lifted its stake in shares of GoDaddy by 4.5% in the 1st quarter. Swiss National Bank now owns 396,500 shares of the technology company's stock worth $32,779,000 after acquiring an additional 17,100 shares during the period. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of GoDaddy in the fourth quarter valued at about $9,303,000. Institutional investors and hedge funds own 90.28% of the company's stock.

GoDaddy Stock Performance

Shares of GDDY opened at $104.45 on Tuesday. The stock has a 50 day moving average price of $96.03 and a 200 day moving average price of $88.73. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 561.10. The company has a market capitalization of $13.23 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 0.87 and a beta of 0.94. GoDaddy has a 52-week low of $71.59 and a 52-week high of $148.19.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The technology company reported $1.83 earnings per share for the quarter, topping analysts' consensus estimates of $1.69 by $0.14. The company had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.29 billion. GoDaddy had a net margin of 17.83% and a return on equity of 660.96%. The firm's revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the company earned $1.41 earnings per share. Research analysts predict that GoDaddy will post 7.21 EPS for the current fiscal year.

GoDaddy Company Profile

GoDaddy Inc NYSE: GDDY is a technology company that provides online tools and services for entrepreneurs, small businesses and individuals. Its offerings are designed to help customers establish, manage and grow an online presence, including domain-name registration, domain search and management, website hosting, professional email and online security services.

The company also provides website-building and commerce solutions that support online stores, appointment scheduling, digital marketing, search-engine optimization, social media management and payment acceptance.

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