GoDaddy (NYSE:GDDY) Stock Price Up 1.2% - Still a Buy?

GoDaddy Inc. (NYSE:GDDY - Get Free Report) shares shot up 1.2% on Thursday . The company traded as high as $205.05 and last traded at $202.50. 221,442 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,450,151 shares. The stock had previously closed at $200.13.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed 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 reaffirmed an "outperform" rating and issued a $230.00 target price (up from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Jefferies Financial Group raised their price target on GoDaddy from $170.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Benchmark lifted their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Finally, B. Riley increased their price objective on GoDaddy from $170.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $181.57.

GoDaddy Trading Up 1.4 %

The company's fifty day moving average price is $183.43 and its two-hundred day moving average price is $161.83. 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 company has a market cap of $28.49 billion, a price-to-earnings ratio of 15.68 and a beta of 1.15.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating analysts' consensus estimates of $1.25 by $0.07. The company had revenue of $1.15 billion during 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 quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $0.89 earnings per share. Research analysts expect that GoDaddy Inc. will post 4.96 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Phontip Palitwanon sold 770 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total transaction of $151,412.80. Following the completion of the transaction, the chief accounting officer now directly owns 23,059 shares in the company, valued at approximately $4,534,321.76. This trade represents a 3.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 three months, insiders sold 23,503 shares of company stock valued at $4,158,033. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GoDaddy

Several hedge funds have recently bought and sold shares of GDDY. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in GoDaddy by 0.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company's stock valued at $2,837,000 after purchasing an additional 67 shares in the last quarter. Prime Capital Investment Advisors LLC increased its holdings in GoDaddy by 4.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company's stock valued at $296,000 after buying an additional 73 shares during the period. Whittier Trust Co. raised its position in shares of GoDaddy by 4.3% in the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company's stock valued at $249,000 after buying an additional 74 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in shares of GoDaddy by 11.3% during the 3rd quarter. Lindbrook Capital LLC now owns 974 shares of the technology company's stock worth $153,000 after acquiring an additional 99 shares during the period. Finally, Equitable Trust Co. boosted its position in shares of GoDaddy by 1.3% during the 3rd quarter. Equitable Trust Co. now owns 8,435 shares of the technology company's stock worth $1,322,000 after acquiring an additional 107 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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.