GoDaddy (NYSE:GDDY) Trading 0.2% Higher – Should You Buy?

GoDaddy Inc. (NYSE:GDDY) was up 0.2% during mid-day trading on Wednesday . The stock 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 Analysts Forecast Growth

GDDY has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Benchmark raised their target price on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Robert W. Baird increased their price target on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, Barclays increased their price target on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.57.

GoDaddy Stock Down 0.5 %

The company has a market capitalization of $28.97 billion, a price-to-earnings ratio of 15.95 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 business has a 50-day moving average price of $182.65 and a 200-day moving average price of $161.56.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The business 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 firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 EPS. As a group, equities analysts anticipate 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 GoDaddy stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total value of $466,800.00. Following the completion of the transaction, the chief executive officer now directly owns 348,956 shares of the company’s stock, valued at $54,297,553.60. The trade was a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Phontip Palitwanon sold 1,554 shares of GoDaddy stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $203.90, for a total value of $316,860.60. Following the completion of the transaction, the chief accounting officer now directly owns 21,505 shares of the company’s stock, valued at $4,384,869.50. This represents a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,503 shares of company stock valued at $3,950,683 in the last quarter. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

Several institutional investors and hedge funds have recently added to or reduced their stakes in GDDY. Principal Financial Group Inc. grew its position in shares of GoDaddy by 3.4% during the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after buying an additional 6,424 shares during the period. Highland Capital Management LLC bought a new stake in GoDaddy in the 3rd quarter valued at approximately $1,132,000. Crossmark Global Holdings Inc. lifted its stake in GoDaddy by 28.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock valued at $6,907,000 after acquiring an additional 9,631 shares in the last quarter. Dai ichi Life Insurance Company Ltd lifted its stake in GoDaddy by 39.6% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock valued at $9,410,000 after acquiring an additional 17,021 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of GoDaddy by 374.3% during the 2nd quarter. American Century Companies Inc. now owns 150,451 shares of the technology company’s stock worth $21,020,000 after purchasing an additional 118,731 shares in the last quarter. 90.28% of the stock is owned by 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.