GoDaddy (NYSE:GDDY) Trading Up 1.2% – Time to Buy?

GoDaddy Inc. (NYSE:GDDY) shares were up 1.2% during mid-day trading on Monday . The stock traded as high as $200.12 and last traded at $198.71. Approximately 297,313 shares changed hands during trading, a decline of 80% from the average daily volume of 1,450,497 shares. The stock had previously closed at $196.35.

Analyst Ratings Changes

GDDY has been the subject of several recent research reports. B. Riley boosted their price objective on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada upped their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, November 1st. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Robert W. Baird boosted their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, Piper Sandler increased their target price on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.31.

GoDaddy Stock Performance

The company has a market capitalization of $27.78 billion, a PE ratio of 15.33 and a beta of 1.11. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The business’s fifty day moving average is $168.48 and its two-hundred day moving average is $154.54.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. The company 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%. GoDaddy’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $0.89 earnings per share. Equities research analysts predict that GoDaddy Inc. will post 4.95 earnings per share for the current year.

Insider Activity at GoDaddy

In other news, CAO Nick Daddario sold 684 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total transaction of $107,545.32. Following the sale, the chief accounting officer now directly owns 17,704 shares in the company, valued at $2,783,599.92. This trade represents a 3.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total transaction of $500,730.00. Following the completion of the transaction, the chief executive officer now directly owns 358,773 shares of the company’s stock, valued at $59,882,801.43. This represents a 0.83 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,345 shares of company stock worth $3,897,255. 0.61% of the stock is owned by company insiders.

Institutional Trading of GoDaddy

Several institutional investors and hedge funds have recently added to or reduced their stakes in GDDY. LBP AM SA purchased a new stake in GoDaddy in the 1st quarter worth $3,021,000. iA Global Asset Management Inc. grew its holdings in GoDaddy by 7.6% during the 1st quarter. iA Global Asset Management Inc. now owns 2,653 shares of the technology company’s stock valued at $315,000 after buying an additional 187 shares in the last quarter. Plato Investment Management Ltd increased its stake in GoDaddy by 2,471.0% in the 1st quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock worth $769,000 after acquiring an additional 6,227 shares during the last quarter. New Covenant Trust Company N.A. purchased a new stake in shares of GoDaddy during the 1st quarter worth approximately $45,000. Finally, Virtu Financial LLC bought a new position in shares of GoDaddy during the 1st quarter valued at approximately $743,000. 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.