GoDaddy (NYSE:GDDY) Shares Up 0.2% - Time to Buy?

GoDaddy Inc. (NYSE:GDDY - Get Free Report)'s share price 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 traded hands during 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 Analyst Weigh In

A number of equities analysts recently commented on the company. B. Riley increased their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. StockNews.com lowered shares of GoDaddy from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 8th. 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. Piper Sandler increased their target price on shares of GoDaddy from $172.00 to $176.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group raised their target price on GoDaddy from $170.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $181.57.

GoDaddy Stock Performance

The stock has a market cap of $28.10 billion, a price-to-earnings ratio of 15.47 and a beta of 1.15. The firm has a fifty day simple moving average of $182.65 and a 200 day simple moving average of $161.56. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.07. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.89 earnings per share. As a group, sell-side analysts expect that GoDaddy Inc. will post 4.96 earnings per share for the current year.

Insider Activity at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total transaction of $466,800.00. Following the sale, the chief executive officer now owns 348,956 shares of the company's stock, valued at $54,297,553.60. This represents a 0.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total transaction of $855,800.00. Following the transaction, the chief financial officer now owns 93,102 shares in the company, valued at $14,486,671.20. The trade was a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,503 shares of company stock valued at $4,158,033 in the last 90 days. 0.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GoDaddy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. boosted its stake in GoDaddy by 35.6% in the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company's stock valued at $209,743,000 after acquiring an additional 394,399 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in shares of GoDaddy by 2,279.5% during the third quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company's stock worth $62,908,000 after purchasing an additional 384,386 shares during the period. Mizuho Securities USA LLC increased its holdings in GoDaddy by 3,227.3% in the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company's stock valued at $56,709,000 after purchasing an additional 350,839 shares during the last quarter. FMR LLC boosted its holdings in GoDaddy by 19.8% during the third quarter. FMR LLC now owns 1,660,283 shares of the technology company's stock worth $260,299,000 after buying an additional 274,014 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of GoDaddy by 37.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company's stock worth $120,305,000 after buying an additional 235,934 shares during the period. 90.28% of the stock is 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.