GoDaddy (NYSE:GDDY) Reaches New 52-Week High – Should You Buy?

GoDaddy Inc. (NYSE:GDDY) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $172.14 and last traded at $172.12, with a volume of 4553 shares changing hands. The stock had previously closed at $167.63.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. StockNews.com upgraded shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. Barclays lifted their price objective on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Piper Sandler boosted their target price on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Royal Bank of Canada raised their price target on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Robert W. Baird increased their price objective on GoDaddy from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.38.

GoDaddy Stock Up 4.9 %

The firm has a market cap of $24.78 billion, a PE ratio of 12.95 and a beta of 1.11. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The firm’s 50 day moving average is $159.27 and its 200-day moving average is $148.10.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 earnings per share. As a group, equities research analysts expect that GoDaddy Inc. will post 5.13 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Sigal Zarmi sold 400 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, the director now directly owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Sigal Zarmi sold 400 shares of the firm’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 transaction, the director now owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $167.79, for a total transaction of $503,370.00. Following the sale, the chief executive officer now directly owns 345,956 shares of the company’s stock, valued at approximately $58,047,957.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,744 shares of company stock valued at $4,592,941 in the last 90 days. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GoDaddy

Several hedge funds have recently modified their holdings of GDDY. Vanguard Group Inc. raised its stake in shares of GoDaddy by 2.6% during the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock valued at $1,748,603,000 after purchasing an additional 379,228 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in GoDaddy by 94.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after buying an additional 1,775,708 shares in the last quarter. Federated Hermes Inc. boosted its position in GoDaddy by 35.6% in the 2nd 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. Dimensional Fund Advisors LP grew its stake in shares of GoDaddy by 37.7% during the second quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock valued at $120,305,000 after acquiring an additional 235,934 shares in the last quarter. Finally, Fiera Capital Corp increased its position in shares of GoDaddy by 1.6% during the second quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock worth $115,725,000 after acquiring an additional 13,206 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

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.