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

GoDaddy Inc. (NYSE:GDDY) has been assigned an average rating of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $120.5714.

Several brokerages recently weighed in on GDDY. Evercore set a $95.00 target price on shares of GoDaddy in a research note on Wednesday, February 25th. Jefferies Financial Group cut their target price on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating on the stock in a research note on Monday, February 23rd. Cantor Fitzgerald cut their target price on shares of GoDaddy from $130.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. JPMorgan Chase & Co. cut their target price on shares of GoDaddy from $167.00 to $154.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. Finally, Citigroup cut their target price on shares of GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th.

Insider Activity

In other GoDaddy news, CAO Phontip Palitwanon sold 1,310 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $90.15, for a total value of $118,096.50. Following the sale, the chief accounting officer directly owned 20,349 shares of the company’s stock, valued at approximately $1,834,462.35. This represents a 6.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Leah Sweet sold 650 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $86.86, for a total transaction of $56,459.00. Following the completion of the sale, the director directly owned 11,414 shares in the company, valued at approximately $991,420.04. This represents a 5.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 61,946 shares of company stock valued at $5,502,965. 0.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GoDaddy

A number of large investors have recently modified their holdings of the company. Coldstream Capital Management Inc. increased 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 valued at $258,000 after purchasing an additional 86 shares during the last quarter. Clearstead Advisors LLC increased its position in shares of GoDaddy by 0.9% in the 3rd quarter. Clearstead Advisors LLC now owns 12,324 shares of the technology company’s stock valued at $1,686,000 after purchasing an additional 104 shares during the last quarter. Main Street Financial Solutions LLC increased its position in shares of GoDaddy by 1.0% in the 2nd quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock valued at $2,185,000 after purchasing an additional 119 shares during the last quarter. Lido Advisors LLC increased its position in shares of GoDaddy by 6.2% in the 4th quarter. Lido Advisors LLC now owns 2,083 shares of the technology company’s stock valued at $283,000 after purchasing an additional 121 shares during the last quarter. Finally, Martin Capital Advisors LLP increased its position in shares of GoDaddy by 1.5% in the 4th quarter. Martin Capital Advisors LLP now owns 9,082 shares of the technology company’s stock valued at $1,127,000 after purchasing an additional 130 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Price Performance

GoDaddy stock opened at $90.51 on Wednesday. The company’s 50 day simple moving average is $84.66 and its 200-day simple moving average is $103.37. The company has a market capitalization of $11.98 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 0.82 and a beta of 0.92. GoDaddy has a 1 year low of $73.06 and a 1 year high of $190.30. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.07. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the firm earned $1.51 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts expect that GoDaddy will post 7.17 earnings per share for the current 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.