GoDaddy Inc. (NYSE:GDDY) Receives $214.86 Consensus Target Price from Brokerages

Shares of GoDaddy Inc. (NYSE:GDDY - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the fourteen ratings firms that are currently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $214.86.

A number of research firms recently issued reports on GDDY. Piper Sandler lifted their target price on GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Benchmark reaffirmed a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. Morgan Stanley cut their price target on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Barclays lowered their price objective on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Finally, Wall Street Zen downgraded shares of GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th.

Insiders Place Their Bets

In related news, CFO Mark Mccaffrey sold 37,500 shares of GoDaddy stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $180.95, for a total transaction of $6,785,625.00. Following the sale, the chief financial officer directly owned 77,250 shares of the company's stock, valued at approximately $13,978,387.50. The trade was a 32.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $171.75, for a total transaction of $171,750.00. Following the completion of the transaction, the chief operating officer directly owned 256,949 shares of the company's stock, valued at approximately $44,130,990.75. The trade was a 0.39% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,632 shares of company stock worth $12,602,635. Insiders own 0.61% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Cornerstone Planning Group LLC grew its holdings in GoDaddy by 123.4% during the 1st quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company's stock worth $25,000 after acquiring an additional 79 shares during the last quarter. Park Square Financial Group LLC bought a new position in GoDaddy during the 1st quarter worth $27,000. Private Trust Co. NA lifted its holdings in GoDaddy by 591.3% during the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock worth $29,000 after buying an additional 136 shares during the period. Zions Bancorporation National Association UT bought a new stake in shares of GoDaddy in the 1st quarter valued at about $30,000. Finally, Banque Transatlantique SA acquired a new stake in shares of GoDaddy in the first quarter valued at about $36,000. Institutional investors and hedge funds own 90.28% of the company's stock.

GoDaddy Stock Down 0.0%

Shares of GDDY stock traded down $0.05 during trading hours on Friday, hitting $180.02. 1,483,342 shares of the company were exchanged, compared to its average volume of 1,335,124. The company has a market capitalization of $25.65 billion, a PE ratio of 34.62 and a beta of 1.07. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 18.91. GoDaddy has a 52 week low of $138.48 and a 52 week high of $216.00. The business has a 50 day moving average of $181.41 and a two-hundred day moving average of $186.77.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.35 by ($0.08). GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business posted $2.76 EPS. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. Analysts anticipate that GoDaddy will post 6.63 earnings per share 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.