GoDaddy (NYSE:GDDY) Trading 1.6% Higher - Time to Buy?

GoDaddy Inc. (NYSE:GDDY - Get Free Report)'s stock price rose 1.6% during trading on Monday . The stock traded as high as $210.19 and last traded at $210.17. Approximately 170,829 shares changed hands during trading, a decline of 88% from the average daily volume of 1,454,614 shares. The stock had previously closed at $206.78.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Robert W. Baird boosted their price target 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. Barclays boosted their target price on GoDaddy from $165.00 to $185.00 and gave the company an "overweight" rating in a report on Wednesday, September 25th. StockNews.com downgraded GoDaddy from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 8th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Finally, Piper Sandler increased their price objective on GoDaddy from $172.00 to $176.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Five 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 stock. Based on data from MarketBeat, GoDaddy currently has a consensus rating of "Moderate Buy" and a consensus target price of $181.57.

GoDaddy Stock Performance

The stock's 50-day moving average is $180.63 and its 200 day moving average is $160.59. The stock has a market cap of $29.35 billion, a price-to-earnings ratio of 16.15 and a beta of 1.15. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $1.15 billion during 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%. The company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $0.89 EPS. As a group, analysts predict that GoDaddy Inc. will post 4.96 earnings per share for the current fiscal year.

Insider Activity at GoDaddy

In other news, CFO Mark Mccaffrey sold 5,500 shares of the firm's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total value of $855,800.00. Following the completion of the transaction, the chief financial officer now owns 93,102 shares in the company, valued at $14,486,671.20. This trade represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Monday, November 11th. The stock was sold at an average price of $179.00, for a total value of $89,500.00. Following the transaction, the director now directly owns 24,121 shares of the company's stock, valued at $4,317,659. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,503 shares of company stock worth $3,950,683 over the last 90 days. Company insiders own 0.61% of the company's stock.

Hedge Funds Weigh In On GoDaddy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its holdings in shares of GoDaddy by 3.4% in the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company's stock worth $31,052,000 after acquiring an additional 6,424 shares during the last quarter. Highland Capital Management LLC purchased a new stake in GoDaddy during the 3rd quarter worth about $1,132,000. Crossmark Global Holdings Inc. raised 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 purchasing an additional 9,631 shares during the last quarter. Dai ichi Life Insurance Company Ltd lifted its holdings 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 purchasing an additional 17,021 shares in the last quarter. Finally, American Century Companies Inc. boosted 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 during the last quarter. Institutional investors and hedge funds 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.