GoDaddy Inc. (NYSE:GDDY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

GoDaddy Inc. (NYSE:GDDY) has received a consensus rating of “Moderate Buy” from the fifteen research firms that are currently covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $125.5714.

Several equities research analysts have commented on GDDY shares. Piper Sandler initiated coverage on shares of GoDaddy in a report on Thursday, March 12th. They issued a “neutral” rating and a $93.00 price target on the stock. Cantor Fitzgerald decreased their price objective on GoDaddy from $130.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Morgan Stanley lowered their target price on GoDaddy from $159.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. Benchmark reduced their price target on GoDaddy from $240.00 to $210.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Finally, Jefferies Financial Group decreased their price target on GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a report on Monday, February 23rd.

GoDaddy Stock Performance

GDDY opened at $81.67 on Tuesday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 17.50. GoDaddy has a 12-month low of $73.06 and a 12-month high of $193.55. The firm has a 50 day moving average of $89.21 and a two-hundred day moving average of $114.11. The firm has a market capitalization of $10.89 billion, a PE ratio of 13.11, a P/E/G ratio of 0.72 and a beta of 0.98.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Tuesday, February 24th. The technology company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.58 by $0.22. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the firm earned $1.36 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, analysts anticipate that GoDaddy will post 6.63 EPS for the current year.

Insider Activity

In other GoDaddy news, CFO Mark Mccaffrey sold 17,406 shares of GoDaddy stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total value of $1,548,959.94. Following the completion of the transaction, the chief financial officer owned 113,003 shares of the company’s stock, valued at approximately $10,056,136.97. The trade was a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leah Sweet sold 650 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $86.86, for a total transaction of $56,459.00. Following the sale, the director directly owned 11,414 shares in the company, valued at approximately $991,420.04. The trade was a 5.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 61,918 shares of company stock valued at $5,500,469. 0.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GDDY. Hemington Wealth Management increased its holdings in GoDaddy by 85.9% in the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after acquiring an additional 85 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in GoDaddy during the fourth quarter valued at $25,000. Rachor Investment Advisory Services LLC acquired a new stake in shares of GoDaddy in the fourth quarter valued at about $25,000. Activest Wealth Management increased its stake in shares of GoDaddy by 6,600.0% during the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock worth $25,000 after purchasing an additional 198 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new stake in shares of GoDaddy during the third quarter worth about $31,000. 90.28% of the stock is owned by institutional investors and hedge funds.

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.