GoDaddy (NYSE:GDDY) Earns Outperform Rating from Royal Bank Of Canada

GoDaddy (NYSE:GDDY - Get Free Report)'s stock had its "outperform" rating reissued by stock analysts at Royal Bank Of Canada in a report issued on Monday,Benzinga reports. They presently have a $225.00 price objective on the technology company's stock. Royal Bank Of Canada's price objective suggests a potential upside of 27.83% from the stock's previous close.

A number of other research firms have also recently commented on GDDY. Jefferies Financial Group lowered their target price on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. Morgan Stanley decreased their price target on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Benchmark reiterated a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. JPMorgan Chase & Co. lifted their price target on GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Finally, Barclays cut their target price on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $214.86.

GoDaddy Stock Performance

Shares of GDDY stock traded up $1.15 during midday trading on Monday, hitting $176.02. 146,221 shares of the company were exchanged, compared to its average volume of 1,347,359. The firm has a market capitalization of $25.08 billion, a P/E ratio of 33.85 and a beta of 1.07. The firm's 50 day moving average price is $180.84 and its two-hundred day moving average price is $187.76. The company has a debt-to-equity ratio of 18.91, a quick ratio of 0.56 and a current ratio of 0.56. GoDaddy has a 52 week low of $136.75 and a 52 week high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.08). The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. The firm's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.76 earnings per share. As a group, equities research analysts anticipate that GoDaddy will post 6.63 earnings per share for the current year.

Insider Activity at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total transaction of $171,750.00. Following the completion of the sale, the chief operating officer now directly owns 256,949 shares of the company's stock, valued at $44,130,990.75. The trade was a 0.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total value of $989,175.00. Following the completion of the sale, the chief financial officer now owns 115,375 shares of the company's stock, valued at $20,750,193.75. This represents a 4.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,632 shares of company stock worth $12,602,635. Insiders own 0.61% of the company's stock.

Institutional Trading of GoDaddy

A number of hedge funds have recently bought and sold shares of GDDY. Advisors Capital Management LLC boosted its holdings in shares of GoDaddy by 0.9% in the 4th quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company's stock valued at $1,223,000 after buying an additional 55 shares in the last quarter. BNP Paribas grew its holdings in GoDaddy by 2.9% in the fourth quarter. BNP Paribas now owns 2,111 shares of the technology company's stock worth $417,000 after purchasing an additional 59 shares during the last quarter. City Holding Co. lifted its holdings in shares of GoDaddy by 30.0% during the 1st quarter. City Holding Co. now owns 260 shares of the technology company's stock valued at $47,000 after purchasing an additional 60 shares during the last quarter. Lake Street Advisors Group LLC boosted its position in shares of GoDaddy by 4.7% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company's stock worth $283,000 after purchasing an additional 64 shares in the last quarter. Finally, Equitable Trust Co. boosted its position in shares of GoDaddy by 1.0% in the 1st quarter. Equitable Trust Co. now owns 6,657 shares of the technology company's stock worth $1,199,000 after purchasing an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

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.

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