GoDaddy (NYSE:GDDY) Hits New 1-Year High - Time to Buy?

GoDaddy Inc. (NYSE:GDDY - Get Free Report)'s share price reached a new 52-week high on Thursday . The company traded as high as $190.95 and last traded at $190.95, with a volume of 1201 shares trading hands. The stock had previously closed at $190.12.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Robert W. Baird upped their price objective on GoDaddy from $200.00 to $225.00 and gave the stock an "outperform" rating in a research report on Tuesday. Cantor Fitzgerald reiterated a "neutral" rating and issued a $170.00 price target on shares of GoDaddy in a research note on Monday, October 7th. Royal Bank of Canada boosted their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Benchmark upped their target price on shares of GoDaddy from $186.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Finally, Raymond James lifted their price target on shares of GoDaddy from $150.00 to $175.00 and gave the stock a "strong-buy" rating in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $173.31.

GoDaddy Stock Performance

The stock has a fifty day moving average of $164.93 and a 200-day moving average of $152.55. 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 has a market cap of $27.07 billion, a PE ratio of 14.84 and a beta of 1.11.

GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities analysts forecast that GoDaddy Inc. will post 4.95 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Nick Daddario sold 684 shares of the company's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction of $107,545.32. Following the transaction, the chief accounting officer now owns 17,704 shares of the company's stock, valued at $2,783,599.92. This represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $183.80, for a total value of $183,800.00. Following the completion of the sale, the chief operating officer now directly owns 185,632 shares of the company's stock, valued at approximately $34,119,161.60. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,845 shares of company stock worth $4,803,380. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On GoDaddy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new stake in GoDaddy in the 3rd quarter valued at about $27,000. ORG Wealth Partners LLC acquired a new stake in shares of GoDaddy in the third quarter valued at approximately $30,000. Transcendent Capital Group LLC purchased a new position in shares of GoDaddy during the 2nd quarter worth approximately $28,000. Anchor Investment Management LLC acquired a new position in shares of GoDaddy during the 3rd quarter worth approximately $31,000. Finally, ORG Partners LLC acquired a new position in shares of GoDaddy during the 2nd quarter worth approximately $32,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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.