GoDaddy (NYSE:GDDY) Reaches New 12-Month High at $136.22

GoDaddy Inc. (NYSE:GDDY - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $136.22 and last traded at $135.85, with a volume of 126950 shares traded. The stock had previously closed at $132.82.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Morgan Stanley raised their price objective on shares of GoDaddy from $132.00 to $137.00 and gave the stock an "equal weight" rating in a research note on Friday, May 3rd. UBS Group raised their price objective on shares of GoDaddy from $118.00 to $130.00 and gave the stock a "neutral" rating in a research note on Friday, May 3rd. StockNews.com raised shares of GoDaddy from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, February 14th. Piper Sandler raised their price objective on shares of GoDaddy from $130.00 to $145.00 and gave the stock an "overweight" rating in a research note on Thursday, March 7th. Finally, Robert W. Baird raised their price objective on shares of GoDaddy from $130.00 to $150.00 and gave the stock an "outperform" rating in a research note on Monday, March 25th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, GoDaddy has a consensus rating of "Moderate Buy" and an average price target of $142.73.

GoDaddy Trading Up 2.7 %

The company has a market capitalization of $19.44 billion, a PE ratio of 11.03 and a beta of 1.09. The company's fifty day moving average is $122.68 and its 200-day moving average is $109.74. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.55.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.05. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. On average, analysts anticipate that GoDaddy Inc. will post 4.81 EPS for the current fiscal year.

Insider Activity at GoDaddy

In other GoDaddy news, CAO Nick Daddario sold 1,823 shares of GoDaddy stock in a transaction on Monday, March 4th. The shares were sold at an average price of $110.54, for a total value of $201,514.42. Following the transaction, the chief accounting officer now directly owns 25,263 shares of the company's stock, valued at $2,792,572.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other GoDaddy news, CAO Nick Daddario sold 1,823 shares of GoDaddy stock in a transaction on Monday, March 4th. The shares were sold at an average price of $110.54, for a total value of $201,514.42. Following the transaction, the chief accounting officer now directly owns 25,263 shares of the company's stock, valued at $2,792,572.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction on Friday, March 1st. The stock was sold at an average price of $114.11, for a total transaction of $456,440.00. Following the completion of the transaction, the chief operating officer now directly owns 208,632 shares in the company, valued at $23,806,997.52. The disclosure for this sale can be found here. Insiders have sold a total of 125,234 shares of company stock valued at $14,025,346 over the last ninety days. 0.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On GoDaddy

Institutional investors and hedge funds have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in shares of GoDaddy during the fourth quarter valued at $28,000. GAMMA Investing LLC grew its holdings in shares of GoDaddy by 102.3% during the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company's stock valued at $31,000 after buying an additional 133 shares during the last quarter. Frazier Financial Advisors LLC purchased a new stake in shares of GoDaddy during the fourth quarter valued at $33,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of GoDaddy by 140.4% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company's stock valued at $37,000 after buying an additional 205 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new position in GoDaddy during the third quarter valued at $43,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

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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