GoDaddy (NYSE:GDDY) Stock Price Up 0.2% – Should You Buy?

GoDaddy Inc. (NYSE:GDDY)’s stock price was up 0.2% during trading on Wednesday . The company traded as high as $208.70 and last traded at $207.94. Approximately 120,394 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 1,450,566 shares. The stock had previously closed at $207.46.

Wall Street Analyst Weigh In

GDDY has been the subject of a number of analyst reports. Jefferies Financial Group upped their target price on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research report on Monday, October 7th. Robert W. Baird lifted their target price on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Benchmark increased their price target on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $230.00 price target (up from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $181.57.

GoDaddy Stock Performance

The firm’s 50-day simple moving average is $184.25 and its two-hundred day simple moving average is $162.12. The company has a market cap of $28.49 billion, a PE ratio of 15.68 and a beta of 1.15. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share 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 net margin of 41.74% and a return on equity of 267.29%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.89 earnings per share. As a group, research analysts anticipate that GoDaddy Inc. will post 4.96 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total transaction of $855,800.00. Following the completion of the transaction, the chief financial officer now directly owns 93,102 shares in the company, valued at $14,486,671.20. The trade was a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Phontip Palitwanon sold 770 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total transaction of $151,412.80. Following the completion of the sale, the chief accounting officer now directly owns 23,059 shares in the company, valued at approximately $4,534,321.76. The trade was a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,503 shares of company stock valued at $4,158,033. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Institutional investors and hedge funds have recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in shares of GoDaddy in the 3rd quarter valued at $27,000. ORG Wealth Partners LLC purchased a new position in GoDaddy in the third quarter valued at $30,000. Transcendent Capital Group LLC acquired a new position in shares of GoDaddy in the second quarter worth about $28,000. Anchor Investment Management LLC acquired a new position in shares of GoDaddy in the third quarter worth about $31,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of GoDaddy during the 2nd quarter worth about $36,000. Institutional investors and hedge funds 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.