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

Shares of GoDaddy Inc. (NYSE:GDDY) have earned an average recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $181.1429.

A number of research analysts have recently issued reports on GDDY shares. Raymond James Financial reiterated a “strong-buy” rating on shares of GoDaddy in a research note on Friday, October 31st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $150.00 price objective on shares of GoDaddy in a research report on Friday, October 31st. Citigroup reduced their price objective on GoDaddy from $214.00 to $195.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Wells Fargo & Company lowered their target price on GoDaddy from $157.00 to $145.00 and set an “equal weight” rating for the company in a research note on Monday, October 6th. Finally, B. Riley decreased their price objective on shares of GoDaddy from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, October 31st.

Insider Activity at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $133.11, for a total transaction of $66,555.00. Following the completion of the sale, the director owned 19,957 shares in the company, valued at $2,656,476.27. The trade was a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $886,880.08. Following the completion of the transaction, the chief executive officer owned 399,133 shares in the company, valued at approximately $51,065,076.02. This represents a 1.71% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 14,615 shares of company stock worth $1,877,942. 0.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Hudson Bay Capital Management LP acquired a new stake in shares of GoDaddy during the 3rd quarter worth approximately $309,000. Allworth Financial LP boosted its stake in GoDaddy by 20.3% in the third quarter. Allworth Financial LP now owns 2,046 shares of the technology company’s stock valued at $280,000 after acquiring an additional 345 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in GoDaddy by 67.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 610 shares of the technology company’s stock worth $83,000 after acquiring an additional 245 shares during the period. CIBC Bancorp USA Inc. bought a new stake in shares of GoDaddy during the 3rd quarter valued at $2,633,000. Finally, Coldstream Capital Management Inc. boosted its position in shares of GoDaddy by 4.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company’s stock worth $258,000 after purchasing an additional 86 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Stock Performance

GoDaddy stock opened at $127.15 on Friday. GoDaddy has a 52-week low of $121.94 and a 52-week high of $216.00. The company has a debt-to-equity ratio of 41.06, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a fifty day moving average price of $128.70 and a two-hundred day moving average price of $146.18. The firm has a market capitalization of $17.18 billion, a P/E ratio of 21.96, a P/E/G ratio of 1.42 and a beta of 0.95.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the company posted $1.32 EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts anticipate that GoDaddy will post 6.63 EPS for the current fiscal year.

About GoDaddy

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.