GoDaddy Inc. (NYSE:GDDY) Receives Average Rating of “Moderate Buy” from Analysts

Shares of GoDaddy Inc. (NYSE:GDDY) have been given an average recommendation of “Moderate Buy” by the sixteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $198.07.

GDDY has been the subject of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Morgan Stanley upped their target price on shares of GoDaddy from $189.00 to $227.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Jefferies Financial Group boosted their price target on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. B. Riley boosted their price target on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Raymond James boosted their price target on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 21st.

GoDaddy Stock Performance

Shares of GoDaddy stock opened at $209.64 on Thursday. The firm has a fifty day moving average of $203.64 and a two-hundred day moving average of $177.05. The stock has a market capitalization of $29.43 billion, a price-to-earnings ratio of 16.20 and a beta of 1.15. GoDaddy has a 52 week low of $107.92 and a 52 week high of $216.00. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56.

Insider Buying and Selling

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $183.80, for a total transaction of $183,800.00. Following the sale, the chief operating officer now directly owns 185,632 shares of the company’s stock, valued at $34,119,161.60. The trade was a 0.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $179.00, for a total transaction of $89,500.00. Following the sale, the director now directly owns 24,121 shares in the company, valued at $4,317,659. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,983 shares of company stock valued at $4,983,133. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Several institutional investors and hedge funds have recently added to or reduced their stakes in GDDY. Ashton Thomas Securities LLC bought a new stake in GoDaddy during the 3rd quarter worth about $27,000. ORG Wealth Partners LLC bought a new stake in shares of GoDaddy in the 3rd quarter valued at about $30,000. Anchor Investment Management LLC bought a new stake in shares of GoDaddy in the 3rd quarter valued at about $31,000. Versant Capital Management Inc bought a new stake in shares of GoDaddy in the 4th quarter valued at about $43,000. Finally, Huntington National Bank raised its holdings in shares of GoDaddy by 298.7% in the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock valued at $48,000 after purchasing an additional 230 shares during the period. 90.28% of the stock is owned by institutional investors.

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.