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

Shares of GoDaddy Inc. (NYSE:GDDY) have earned an average recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $120.5714.

Several equities analysts recently issued reports on GDDY shares. Evercore set a $95.00 price target on shares of GoDaddy in a report on Wednesday, February 25th. Benchmark cut their price target on shares of GoDaddy from $195.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Royal Bank Of Canada cut their price target on shares of GoDaddy from $200.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Wells Fargo & Company lifted their price target on shares of GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Finally, UBS Group started coverage on shares of GoDaddy in a report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 price target for the company.

Insider Activity at GoDaddy

In other GoDaddy news, Director Sigal Zarmi sold 350 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $87.84, for a total value of $30,744.00. Following the completion of the transaction, the director directly owned 5,708 shares of the company’s stock, valued at approximately $501,390.72. The trade was a 5.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Amanpal Singh Bhutani sold 8,373 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction of $752,397.78. Following the completion of the transaction, the chief executive officer directly owned 521,747 shares of the company’s stock, valued at approximately $46,884,185.42. This represents a 1.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 16,751 shares of company stock valued at $1,480,228. Insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Institutional investors have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of GoDaddy in the fourth quarter worth about $25,000. Rachor Investment Advisory Services LLC bought a new position in shares of GoDaddy in the fourth quarter worth about $25,000. Activest Wealth Management raised its stake in shares of GoDaddy by 6,600.0% in the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock worth $25,000 after acquiring an additional 198 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of GoDaddy by 93.8% in the first quarter. International Assets Investment Management LLC now owns 372 shares of the technology company’s stock worth $30,000 after acquiring an additional 180 shares during the last quarter. Finally, Harbour Investments Inc. raised its stake in shares of GoDaddy by 191.0% in the fourth quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock worth $32,000 after acquiring an additional 170 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

GoDaddy Trading Up 1.4%

Shares of GDDY stock opened at $76.24 on Friday. GoDaddy has a 12-month low of $71.59 and a 12-month high of $181.49. The company has a market capitalization of $10.10 billion, a P/E ratio of 12.06, a P/E/G ratio of 0.69 and a beta of 0.90. The firm has a 50-day moving average price of $85.45 and a 200 day moving average price of $97.98. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the firm posted $1.51 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Research analysts forecast that GoDaddy will post 7.14 earnings per share for the current fiscal year.

GoDaddy Company Profile

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.