GoDaddy’s (GDDY) Buy Rating Reaffirmed at Benchmark

GoDaddy (NYSE:GDDY)‘s stock had its “buy” rating reiterated by analysts at Benchmark in a note issued to investors on Tuesday, Benzinga reports. They presently have a $186.00 target price on the technology company’s stock. Benchmark’s price objective would suggest a potential upside of 13.67% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Robert W. Baird boosted their target price on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Barclays boosted their price target on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a report on Monday, October 7th. Raymond James boosted their target price on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Finally, Piper Sandler reiterated a “neutral” rating and set a $172.00 price target (up previously from $160.00) on shares of GoDaddy in a report on Monday, September 23rd. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $166.54.

GoDaddy Stock Down 0.3 %

GDDY stock traded down $0.44 during midday trading on Tuesday, reaching $163.63. The company had a trading volume of 34,043 shares, compared to its average volume of 1,493,437. The company has a 50 day moving average of $158.41 and a two-hundred day moving average of $143.58. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. GoDaddy has a 1 year low of $71.15 and a 1 year high of $167.65. The company has a market capitalization of $23.35 billion, a P/E ratio of 13.62 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the firm earned $0.63 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts expect that GoDaddy will post 5.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GoDaddy news, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction on Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the sale, the director now owns 4,661 shares in the company, valued at $734,620.21. The trade was a 0.00 % 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. In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’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 transaction of $466,800.00. Following the completion of the transaction, the chief executive officer now owns 348,956 shares in the company, valued at $54,297,553.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sigal Zarmi sold 400 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the sale, the director now owns 4,661 shares in the company, valued at $734,620.21. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,744 shares of company stock worth $4,950,771. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GoDaddy

Several institutional investors and hedge funds have recently made changes to their positions in GDDY. Price T Rowe Associates Inc. MD increased its holdings in GoDaddy by 94.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after purchasing an additional 1,775,708 shares in the last quarter. Kodai Capital Management LP acquired a new stake in shares of GoDaddy in the first quarter valued at $75,855,000. Federated Hermes Inc. raised its holdings in shares of GoDaddy by 35.6% in the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after buying an additional 394,399 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in GoDaddy by 2,279.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock worth $62,908,000 after buying an additional 384,386 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in GoDaddy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after buying an additional 379,228 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

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.