GoDaddy (NYSE:GDDY) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of GoDaddy (NYSE:GDDY) from a buy rating to a strong-buy rating in a research note issued to investors on Tuesday morning.

GDDY has been the topic of several other reports. Robert W. Baird lifted their target price on GoDaddy from $150.00 to $175.00 and gave the company an outperform rating in a research report on Friday, May 24th. Evercore ISI lifted their target price on GoDaddy from $110.00 to $135.00 and gave the company an in-line rating in a research report on Friday, May 3rd. Citigroup raised their price target on GoDaddy from $150.00 to $165.00 and gave the company a buy rating in a report on Friday, May 31st. UBS Group raised their price target on GoDaddy from $118.00 to $130.00 and gave the company a neutral rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada raised their price target on GoDaddy from $124.00 to $145.00 and gave the company an outperform rating in a report on Friday, May 3rd. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, GoDaddy has an average rating of Moderate Buy and an average target price of $158.75.

GoDaddy Stock Up 7.0 %

GoDaddy stock opened at $151.25 on Tuesday. The firm has a market cap of $21.58 billion, a price-to-earnings ratio of 12.56 and a beta of 1.14. The stock has a fifty day simple moving average of $141.77 and a two-hundred day simple moving average of $127.02. GoDaddy has a 12 month low of $69.18 and a 12 month high of $152.09. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 9.15.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.08. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. Equities analysts predict that GoDaddy will post 4.81 EPS for the current fiscal year.

Insider Transactions at GoDaddy

In other news, CFO Mark Mccaffrey sold 4,058 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $133.69, for a total transaction of $542,514.02. Following the transaction, the chief financial officer now directly owns 112,473 shares of the company’s stock, valued at $15,036,515.37. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $138.84, for a total value of $555,360.00. Following the transaction, the chief operating officer now directly owns 196,632 shares of the company’s stock, valued at approximately $27,300,386.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Mark Mccaffrey sold 4,058 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $133.69, for a total value of $542,514.02. Following the completion of the transaction, the chief financial officer now directly owns 112,473 shares in the company, valued at $15,036,515.37. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,071 shares of company stock valued at $6,385,206. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Several hedge funds have recently added to or reduced their stakes in the business. Whittier Trust Co. boosted its stake in shares of GoDaddy by 4.3% during the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock worth $249,000 after acquiring an additional 74 shares in the last quarter. Gulf International Bank UK Ltd raised its holdings in GoDaddy by 0.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 12,030 shares of the technology company’s stock worth $1,427,000 after purchasing an additional 113 shares during the period. Sivia Capital Partners LLC boosted its position in GoDaddy by 3.9% during the first quarter. Sivia Capital Partners LLC now owns 3,023 shares of the technology company’s stock worth $359,000 after purchasing an additional 113 shares in the last quarter. Ingalls & Snyder LLC grew its holdings in GoDaddy by 0.3% in the fourth quarter. Ingalls & Snyder LLC now owns 41,923 shares of the technology company’s stock valued at $4,451,000 after purchasing an additional 120 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of GoDaddy by 102.3% in 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 in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

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.