GoDaddy (NYSE:GDDY) Reaches New 52-Week High – Here’s What Happened

GoDaddy Inc. (NYSE:GDDY) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $185.34 and last traded at $185.16, with a volume of 41364 shares trading hands. The stock had previously closed at $183.13.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GDDY. B. Riley upped their price target on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird upped their price objective on shares of GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Benchmark lifted their target price on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Piper Sandler boosted their price target on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Barclays raised their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Five 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.38.

GoDaddy Price Performance

The business has a 50 day simple moving average of $161.46 and a two-hundred day simple moving average of $150.36. The firm has a market capitalization of $26.50 billion, a P/E ratio of 14.59 and a beta of 1.11. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. GoDaddy’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.89 earnings per share. On average, sell-side analysts expect that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insider Transactions at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the completion of the sale, the chief financial officer now owns 101,286 shares of the company’s stock, valued at $16,686,868.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the sale, the chief financial officer now directly owns 101,286 shares in the company, valued at approximately $16,686,868.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the sale, the director now owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,844 shares of company stock valued at $4,619,397 in the last quarter. Insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

A number of institutional investors have recently made changes to their positions in GDDY. Vanguard Group Inc. raised its holdings in GoDaddy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock valued at $1,748,603,000 after buying an additional 379,228 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of GoDaddy by 94.4% during the first 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 acquiring an additional 1,775,708 shares during the last quarter. FMR LLC boosted its holdings in shares of GoDaddy by 19.8% during the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after purchasing an additional 274,014 shares during the period. Federated Hermes Inc. grew its stake 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 worth $209,743,000 after purchasing an additional 394,399 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in GoDaddy by 37.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock valued at $120,305,000 after purchasing an additional 235,934 shares during the period. Hedge funds and other institutional investors 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.