GoDaddy (NYSE:GDDY) Stock Price Up 5.4% - Still a Buy?

Key Points

• GoDaddy shares rose 5.4% to about $97.37, although trading volume was roughly 97% below the average session volume.
• Analysts maintain a generally favorable outlook: the stock has a consensus “Moderate Buy” rating and an average price target of $110.33, implying potential upside from current levels.
• GoDaddy recently beat quarterly expectations, reporting $1.83 in EPS versus $1.69 expected and $1.30 billion in revenue, up 6.6% year over year; however, insiders sold 23,484 shares worth approximately $2.06 million in the latest quarter.

GoDaddy Inc. (NYSE:GDDY - Get Free Report)'s stock price was up 5.4% during trading on Tuesday . The stock traded as high as $97.44 and last traded at $97.3660. 71,042 shares were traded during mid-day trading, a decline of 97% from the average session volume of 2,304,788 shares. The stock had previously closed at $92.37.

Wall Street Analysts Forecast Growth

GDDY has been the subject of several analyst reports. UBS Group initiated coverage on GoDaddy in a research report on Tuesday, May 5th. They issued a "neutral" rating and a $100.00 target price for the company. Weiss Ratings raised GoDaddy from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday. Piper Sandler restated a "neutral" rating and issued a $95.00 price target (up from $93.00) on shares of GoDaddy in a report on Friday, July 31st. B. Riley Financial lowered their price objective on shares of GoDaddy from $190.00 to $170.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of GoDaddy to a "buy" rating in a research report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $110.33.

GoDaddy Stock Performance

The company has a debt-to-equity ratio of 561.10, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market capitalization of $12.32 billion, a PE ratio of 14.43, a PEG ratio of 0.85 and a beta of 0.90. The company has a 50 day moving average price of $87.81 and a 200 day moving average price of $87.58.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The technology company reported $1.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.69 by $0.14. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. GoDaddy had a net margin of 17.83% and a return on equity of 660.96%. The business's revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 earnings per share. Equities analysts forecast that GoDaddy Inc. will post 7.21 EPS for the current year.

Insider Activity at GoDaddy

In other news, Director Sigal Zarmi sold 350 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $87.84, for a total transaction of $30,744.00. Following the transaction, the director owned 5,708 shares of the company's stock, valued at approximately $501,390.72. This trade represents a 5.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Mccaffrey sold 3,500 shares of GoDaddy stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $82.92, for a total value of $290,220.00. Following the completion of the transaction, the chief financial officer owned 105,728 shares of the company's stock, valued at $8,766,965.76. This trade represents a 3.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,484 shares of company stock worth $2,059,489 over the last quarter. Company insiders own 0.93% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Coldstream Capital Management Inc. increased its holdings 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 last quarter. Main Street Financial Solutions LLC lifted its stake in GoDaddy by 1.0% during the second quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company's stock worth $2,185,000 after purchasing an additional 119 shares during the last quarter. Lido Advisors LLC lifted its stake in GoDaddy by 6.2% during the fourth quarter. Lido Advisors LLC now owns 2,083 shares of the technology company's stock worth $283,000 after purchasing an additional 121 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in GoDaddy by 2.0% in the fourth quarter. Vontobel Holding Ltd. now owns 6,859 shares of the technology company's stock worth $851,000 after purchasing an additional 134 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in GoDaddy by 3.5% in the first quarter. Sequoia Financial Advisors LLC now owns 4,318 shares of the technology company's stock worth $357,000 after purchasing an additional 147 shares during the period. Institutional investors own 90.28% of the company's stock.

GoDaddy Company Profile

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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