GoDaddy (NYSE:GDDY) Trading Up 2.2% – What’s Next?

GoDaddy Inc. (NYSE:GDDY)’s share price shot up 2.2% during mid-day trading on Tuesday . The stock traded as high as $202.16 and last traded at $201.78. 315,638 shares were traded during mid-day trading, a decline of 78% from the average session volume of 1,456,494 shares. The stock had previously closed at $197.43.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GDDY shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a report on Monday, October 7th. Benchmark lifted their price objective on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Royal Bank of Canada raised their target price on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. B. Riley upped their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Raymond James lifted their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.31.

GoDaddy Stock Performance

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 has a market cap of $28.25 billion, a price-to-earnings ratio of 15.59 and a beta of 1.11. The business’s 50-day simple moving average is $167.56 and its two-hundred day simple moving average is $154.07.

GoDaddy (NYSE:GDDY) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $1.15 billion for 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%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 EPS. As a group, sell-side analysts expect that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.

Insider Activity at GoDaddy

In other news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on 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 2.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction 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 owns 101,286 shares in the company, valued at $16,686,868.50. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,845 shares of company stock valued at $4,803,380. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of GoDaddy

Several institutional investors and hedge funds have recently bought and sold shares of GDDY. Meiji Yasuda Life Insurance Co purchased a new position in shares of GoDaddy during the first quarter worth $371,000. Motley Fool Asset Management LLC increased its stake in GoDaddy by 8.6% during the first quarter. Motley Fool Asset Management LLC now owns 2,877 shares of the technology company’s stock worth $341,000 after purchasing an additional 227 shares during the period. LBP AM SA acquired a new stake in shares of GoDaddy during the first quarter worth about $3,021,000. iA Global Asset Management Inc. boosted its stake in shares of GoDaddy by 7.6% in the first quarter. iA Global Asset Management Inc. now owns 2,653 shares of the technology company’s stock valued at $315,000 after purchasing an additional 187 shares during the period. Finally, Plato Investment Management Ltd grew its holdings in shares of GoDaddy by 2,471.0% in the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock valued at $769,000 after purchasing an additional 6,227 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

About GoDaddy

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.