GoDaddy Inc. (NYSE:GDDY) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• GoDaddy has a consensus analyst rating of “Moderate Buy” from 15 brokerages, with an average 12-month price target of about $120.57.
• The company recently beat expectations in its latest quarterly results, posting $1.60 EPS versus the $1.53 estimate and $1.27 billion in revenue, slightly above forecasts, with revenue up 6.1% year over year.
• Insiders have been selling shares recently, including CEO Amanpal Singh Bhutani and CAO Phontip Palitwanon, though the article notes these sales were made to cover tax withholding obligations tied to equity awards.

Shares of GoDaddy Inc. (NYSE:GDDY - Get Free Report) have earned an average rating of "Moderate Buy" from the fifteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $120.5714.

Several analysts have issued reports on GDDY shares. Barclays decreased their price target on shares of GoDaddy from $200.00 to $118.00 and set an "overweight" rating on the stock in a research report on Thursday, February 26th. Evercore set a $95.00 price target on shares of GoDaddy in a research report on Wednesday, February 25th. JPMorgan Chase & Co. decreased their price target on shares of GoDaddy from $167.00 to $154.00 and set an "overweight" rating on the stock in a research report on Friday, May 1st. Wells Fargo & Company raised their price target 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. Finally, Citigroup decreased their price target 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, CEO Amanpal Singh Bhutani sold 8,373 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $752,397.78. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Phontip Palitwanon sold 542 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction of $48,704.12. Following the transaction, the chief accounting officer directly owned 19,995 shares of the company's stock, valued at $1,796,750.70. The trade was a 2.64% 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. Insiders sold a total of 16,751 shares of company stock valued at $1,480,228 over the last quarter. 0.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GoDaddy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Coldstream Capital Management Inc. lifted its holdings in shares of GoDaddy by 4.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company's stock worth $258,000 after acquiring an additional 86 shares during the period. Clearstead Advisors LLC lifted its holdings in shares of GoDaddy by 0.9% during the 3rd quarter. Clearstead Advisors LLC now owns 12,324 shares of the technology company's stock worth $1,686,000 after acquiring an additional 104 shares during the period. Main Street Financial Solutions LLC lifted its holdings in shares of GoDaddy by 1.0% during the 2nd quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company's stock worth $2,185,000 after acquiring an additional 119 shares during the period. Lido Advisors LLC lifted its holdings in shares of GoDaddy by 6.2% during the 4th quarter. Lido Advisors LLC now owns 2,083 shares of the technology company's stock worth $283,000 after acquiring an additional 121 shares during the period. Finally, Martin Capital Advisors LLP lifted its holdings in shares of GoDaddy by 1.5% during the 4th quarter. Martin Capital Advisors LLP now owns 9,082 shares of the technology company's stock worth $1,127,000 after acquiring an additional 130 shares during the period. 90.28% of the stock is owned by institutional investors.

GoDaddy Stock Performance

NYSE:GDDY opened at $76.24 on Friday. GoDaddy has a 1 year low of $71.59 and a 1 year high of $181.49. The firm's fifty day simple moving average is $85.45 and its 200 day simple moving average is $97.98. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86. The firm has a market capitalization of $10.10 billion, a PE ratio of 12.06, a PEG ratio of 0.69 and a beta of 0.90.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.53 by $0.07. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The business's revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.51 EPS. On average, sell-side analysts anticipate that GoDaddy will post 7.14 EPS for the current year.

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.

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