GoDaddy Inc. (NYSE:GDDY) Receives Consensus Rating of "Moderate Buy" from Brokerages

GoDaddy Inc. (NYSE:GDDY - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the fourteen brokerages that are covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $214.86.

Several research firms have recently issued reports on GDDY. Jefferies Financial Group lowered their target price on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a report on Monday, April 7th. Royal Bank of Canada lowered their target price on shares of GoDaddy from $230.00 to $225.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. B. Riley lifted their target price on shares of GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a report on Friday, February 14th. Benchmark reissued a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. Finally, Barclays reduced their price target on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $190.86, for a total transaction of $572,580.00. Following the completion of the sale, the chief executive officer now owns 440,947 shares of the company's stock, valued at $84,159,144.42. The trade was a 0.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $182.03, for a total transaction of $91,015.00. Following the transaction, the director now owns 20,621 shares in the company, valued at approximately $3,753,640.63. This trade represents a 2.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,526 shares of company stock valued at $10,248,511. Company insiders own 0.61% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Cornerstone Planning Group LLC lifted its stake in shares of GoDaddy by 123.4% during the 1st quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company's stock valued at $25,000 after buying an additional 79 shares in the last quarter. Park Square Financial Group LLC purchased a new position in shares of GoDaddy during the 1st quarter valued at $27,000. Private Trust Co. NA lifted its stake in shares of GoDaddy by 591.3% during the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock valued at $29,000 after buying an additional 136 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of GoDaddy during the 1st quarter valued at $30,000. Finally, Banque Transatlantique SA purchased a new position in shares of GoDaddy during the 1st quarter valued at $36,000. Hedge funds and other institutional investors own 90.28% of the company's stock.

GoDaddy Stock Down 1.1%

GDDY traded down $2.02 on Wednesday, hitting $180.27. The company had a trading volume of 2,105,154 shares, compared to its average volume of 1,479,251. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. GoDaddy has a 52-week low of $135.73 and a 52-week high of $216.00. The stock has a fifty day simple moving average of $179.34 and a 200-day simple moving average of $189.45. The firm has a market capitalization of $25.69 billion, a P/E ratio of 27.95 and a beta of 1.13.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.08). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter last year, the business earned $2.76 earnings per share. The business's quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities analysts expect that GoDaddy will post 6.63 EPS for the current fiscal year.

GoDaddy Company Profile

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.