By otakuyassine3@gmail.com 
GoDaddy Inc. (NYSE:GDDY – Get Free Report) was up 1.2% on Thursday . The stock traded as high as $205.05 and last traded at $202.50. Approximately 221,442 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 1,450,151 shares. The stock had previously closed at $200.13.
Wall Street Analyst Weigh In
Several brokerages have issued reports on GDDY. B. Riley boosted their price target on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Robert W. Baird lifted their price objective on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. JPMorgan Chase & Co. upped their price target on GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group boosted their target price on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and a consensus price target of $181.57.
View Our Latest Analysis on GDDY
GoDaddy Price Performance
The company has a market cap of $28.84 billion, a P/E ratio of 15.87 and a beta of 1.15. The company’s 50-day moving average price is $185.09 and its 200-day moving average price is $162.57. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.
GoDaddy (NYSE:GDDY – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the business earned $0.89 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, sell-side analysts predict that GoDaddy Inc. will post 4.96 earnings per share for the current fiscal year.
Insider Activity
In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total value of $855,800.00. Following the sale, the chief financial officer now owns 93,102 shares in the company, valued at $14,486,671.20. This represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total value of $466,800.00. Following the transaction, the chief executive officer now directly owns 348,956 shares in the company, valued at $54,297,553.60. The trade was a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,503 shares of company stock valued at $4,158,033. 0.61% of the stock is owned by insiders.
Institutional Investors Weigh In On GoDaddy
A number of hedge funds and other institutional investors have recently modified their holdings of GDDY. Ashton Thomas Securities LLC bought a new position in GoDaddy in the 3rd quarter valued at about $27,000. ORG Wealth Partners LLC acquired a new position in shares of GoDaddy during the 3rd quarter worth $30,000. Anchor Investment Management LLC acquired a new stake in GoDaddy in the third quarter valued at about $31,000. International Assets Investment Management LLC bought a new position in GoDaddy in the second quarter valued at about $36,000. Finally, Huntington National Bank raised its stake in GoDaddy by 298.7% during the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after acquiring an additional 230 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.
About GoDaddy
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.
Further Reading
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