GoDaddy Inc. (NYSE:GDDY) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• GoDaddy has a consensus analyst rating of "Moderate Buy" from 15 firms, with eight holds, six buys, and one strong buy. The average 12-month price target is about $120.57.
• The company’s latest quarterly results beat expectations, with EPS of $1.60 versus estimates of $1.53 and revenue of $1.27 billion versus estimates of $1.26 billion. Revenue rose 6.1% year over year.
• Several insiders sold shares in recent months, including CFO Mark Mccaffrey and Director Leah Sweet, with total insider sales of 61,946 shares worth about $5.5 million over the last three months.

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

A number of research firms recently weighed in on GDDY. UBS Group began coverage on shares of GoDaddy in a research report on Tuesday, May 5th. They set a "neutral" rating and a $100.00 price target on the stock. JPMorgan Chase & Co. reduced their target price on shares of GoDaddy from $167.00 to $154.00 and set an "overweight" rating on the stock in a research note on Friday, May 1st. Citigroup reduced their target price on shares of GoDaddy from $195.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. Wells Fargo & Company lifted their target price on shares of GoDaddy from $77.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Friday, May 1st. Finally, Piper Sandler began coverage on shares of GoDaddy in a research note on Thursday, March 12th. They set a "neutral" rating and a $93.00 target price on the stock.

GoDaddy Stock Performance

GDDY opened at $90.51 on Wednesday. The firm has a market capitalization of $11.98 billion, a PE ratio of 14.32, a PEG ratio of 0.82 and a beta of 0.92. GoDaddy has a twelve month low of $73.06 and a twelve month high of $190.30. The firm's 50-day moving average price is $84.66 and its 200 day moving average price is $103.37. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.53 by $0.07. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. GoDaddy's quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.51 earnings per share. As a group, sell-side analysts expect that GoDaddy will post 7.17 EPS for the current fiscal year.

Insider Activity

In other GoDaddy news, CFO Mark Mccaffrey sold 17,406 shares of GoDaddy stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total transaction of $1,548,959.94. Following the transaction, the chief financial officer directly owned 113,003 shares of the company's stock, valued at $10,056,136.97. The trade was a 13.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leah Sweet sold 650 shares of GoDaddy stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $86.86, for a total transaction of $56,459.00. Following the transaction, the director directly owned 11,414 shares in the company, valued at $991,420.04. This trade represents a 5.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 61,946 shares of company stock valued at $5,502,965 over the last three months. 0.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GoDaddy

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

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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