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

Key Points

• GoDaddy has a consensus analyst rating of "Moderate Buy" from 15 firms, with an average 1-year price target of about $118.43.
• Recent earnings topped expectations: GoDaddy reported $1.60 EPS versus $1.53 expected, and revenue of $1.27 billion slightly beat estimates while rising 6.1% year over year.
• Insiders have been selling shares recently, including the CFO and CAO, while the stock traded down 2.7% and opened at $86.95 on Thursday.

GoDaddy Inc. (NYSE:GDDY - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the fifteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $118.4286.

A number of analysts have weighed in on the company. UBS Group began coverage on GoDaddy in a report on Tuesday, May 5th. They set a "neutral" rating and a $100.00 target price for the company. Weiss Ratings reiterated a "hold (c-)" rating on shares of GoDaddy in a report on Tuesday, June 16th. Piper Sandler began coverage on GoDaddy in a research report on Thursday, March 12th. They issued a "neutral" rating and a $93.00 price target for the company. JPMorgan Chase & Co. decreased 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. Finally, Benchmark dropped their price objective on GoDaddy from $195.00 to $185.00 and set a "buy" rating on the stock in a research report on Tuesday, April 28th.

Insider Activity

In related news, CFO Mark Mccaffrey sold 3,500 shares of the business's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $82.92, for a total transaction of $290,220.00. Following the completion of the transaction, the chief financial officer owned 105,728 shares in the company, valued at $8,766,965.76. The trade was a 3.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Phontip Palitwanon sold 542 shares of the stock in a transaction that occurred 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 sale, 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 position. 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 ninety days, insiders sold 16,751 shares of company stock valued at $1,480,228. Corporate insiders own 0.93% of the company's stock.

Institutional Investors Weigh In On GoDaddy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GDDY. Coldstream Capital Management Inc. boosted its stake in GoDaddy by 4.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company's stock worth $258,000 after purchasing an additional 86 shares in the last quarter. Main Street Financial Solutions LLC lifted its position in 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 increased its holdings in shares of GoDaddy by 6.2% in the fourth quarter. Lido Advisors LLC now owns 2,083 shares of the technology company's stock valued at $283,000 after purchasing an additional 121 shares during the period. Martin Capital Advisors LLP raised its stake in shares of GoDaddy by 1.5% in the fourth quarter. Martin Capital Advisors LLP now owns 9,082 shares of the technology company's stock worth $1,127,000 after purchasing an additional 130 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of GoDaddy by 18.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 832 shares of the technology company's stock worth $103,000 after purchasing an additional 132 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Trading Down 2.7%

NYSE:GDDY opened at $86.95 on Thursday. The firm has a 50-day simple moving average of $84.94 and a 200-day simple moving average of $92.09. GoDaddy has a one year low of $71.59 and a one year high of $177.84. The firm has a market cap of $11.51 billion, a P/E ratio of 13.76, a P/E/G ratio of 0.81 and a beta of 0.89. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.53 by $0.07. The firm had revenue of $1.27 billion for 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 company's quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $1.51 earnings per share. Equities analysts anticipate that GoDaddy will post 7.13 EPS for the current fiscal 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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