GoDaddy (NYSE:GDDY) Reaches New 1-Year High – Still a Buy?

Shares of GoDaddy Inc. (NYSE:GDDY) reached a new 52-week high during trading on Tuesday . The stock traded as high as $212.97 and last traded at $212.67, with a volume of 266068 shares traded. The stock had previously closed at $204.93.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GDDY. Robert W. Baird lifted their target price on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Raymond James lifted their target price on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. Jefferies Financial Group lifted their target price on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. raised their price target on shares of GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley raised their price target on shares of GoDaddy from $189.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.07.

GoDaddy Stock Performance

The stock has a market capitalization of $30.02 billion, a price-to-earnings ratio of 16.46 and a beta of 1.15. 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 stock’s 50-day simple moving average is $200.75 and its 200 day simple moving average is $173.54.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. GoDaddy’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 earnings per share. Analysts expect that GoDaddy Inc. will post 4.96 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $167.79, for a total value of $503,370.00. Following the completion of the transaction, the chief executive officer now owns 345,956 shares of the company’s stock, valued at approximately $58,047,957.24. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,483 shares of company stock valued at $4,759,553. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

A number of hedge funds have recently modified their holdings of GDDY. WCM Investment Management LLC lifted its stake in shares of GoDaddy by 7,083.4% during the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock worth $678,941,000 after buying an additional 3,356,678 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of GoDaddy by 2,279.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock worth $62,908,000 after buying an additional 384,386 shares during the last quarter. Mizuho Securities USA LLC raised its stake in GoDaddy by 3,227.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock worth $56,709,000 after purchasing an additional 350,839 shares in the last quarter. FMR LLC raised its stake in GoDaddy by 19.8% in the 3rd 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 in the last quarter. Finally, Intech Investment Management LLC raised its stake in GoDaddy by 498.7% in the 3rd quarter. Intech Investment Management LLC now owns 253,367 shares of the technology company’s stock worth $39,723,000 after purchasing an additional 211,051 shares in the last quarter. 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.