GoDaddy Inc. (NYSE:GDDY) Receives $111.93 Average Target Price from Analysts

GoDaddy Inc. (NYSE:GDDY) has earned a consensus recommendation of “Moderate Buy” from the eighteen research firms that are currently covering the firm, Marketbeat reports. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $110.3333.

Several brokerages have weighed in on GDDY. JPMorgan Chase & Co. dropped their price objective on GoDaddy from $154.00 to $124.00 and set an “overweight” rating for the company in a report on Thursday, June 18th. William Blair lowered shares of GoDaddy from an “outperform” rating to a “market perform” rating in a research note on Friday, July 31st. UBS Group assumed coverage on shares of GoDaddy in a research report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 price target for the company. Citigroup dropped their price target on shares of GoDaddy from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Finally, Benchmark cut their price objective on shares of GoDaddy from $185.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, July 31st.

Insider Buying and Selling at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 4,500 shares of GoDaddy stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $83.15, for a total transaction of $374,175.00. Following the completion of the sale, the chief executive officer directly owned 517,247 shares of the company’s stock, valued at $43,009,088.05. The trade was a 0.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Phontip Palitwanon sold 542 shares of GoDaddy stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total value of $48,704.12. Following the sale, the chief accounting officer directly owned 19,995 shares of the company’s stock, valued at approximately $1,796,750.70. This trade represents a 2.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 21,251 shares of company stock worth $1,854,403. 0.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GoDaddy

Several hedge funds have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of GoDaddy during the 4th quarter worth about $25,000. Rachor Investment Advisory Services LLC acquired a new stake in shares of GoDaddy in the 4th quarter valued at approximately $25,000. Activest Wealth Management boosted its stake in GoDaddy by 6,600.0% during the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock worth $25,000 after acquiring an additional 198 shares during the last quarter. International Assets Investment Management LLC boosted its stake in GoDaddy by 93.8% during the 1st quarter. International Assets Investment Management LLC now owns 372 shares of the technology company’s stock worth $30,000 after acquiring an additional 180 shares during the last quarter. Finally, Harbour Investments Inc. grew its holdings in GoDaddy by 191.0% during the fourth quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock valued at $32,000 after purchasing an additional 170 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

Key GoDaddy News

Here are the key news stories impacting GoDaddy this week:

• Positive Sentiment: Valuation remains a potential support. Zacks identified GoDaddy as a top value stock for the long term, highlighting its valuation and investment-style characteristics. The company trades at roughly 13.5 times earnings, while analysts’ average price target remains above the current trading range. Zacks GoDaddy Value Stock Article
• Neutral Sentiment: CEO share sale was made under a preset trading plan. Chief Executive Officer Amanpal Singh Bhutani sold 4,500 shares for approximately $374,000, reducing his direct holdings by 0.86%. Because the transaction occurred under a Rule 10b5-1 plan and represented a small portion of his holdings, it is a limited indicator of management’s outlook. SEC Insider Trading Filing
• Negative Sentiment: Multiple law firms are investigating GoDaddy. Rosen Law Firm and Kaplan Fox & Kilsheimer said they are examining potential securities claims and alleged misleading business disclosures. The announcements largely seek to recruit affected investors and do not establish wrongdoing, but they introduce potential litigation, financial and reputational risks that may weigh on sentiment. Rosen Law Firm Investigation Kaplan Fox Investigation

GoDaddy Stock Down 0.2%

NYSE GDDY opened at $90.93 on Monday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 561.10. The stock’s 50 day moving average is $86.91 and its two-hundred day moving average is $88.04. The company has a market capitalization of $11.52 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 0.82 and a beta of 0.90. GoDaddy has a 1-year low of $71.59 and a 1-year high of $150.47.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, July 30th. The technology company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.14. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. GoDaddy had a return on equity of 660.96% and a net margin of 17.83%.The company’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.41 EPS. Equities analysts forecast that GoDaddy will post 7.21 earnings per share for the current fiscal year.

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.