GoDaddy (NYSE:GDDY) Trading Up 0.1% - What's Next?

GoDaddy Inc. (NYSE:GDDY - Get Free Report)'s share price shot up 0.1% on Friday . The stock traded as high as $193.52 and last traded at $193.14. 127,396 shares were traded during trading, a decline of 91% from the average session volume of 1,450,618 shares. The stock had previously closed at $193.01.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Benchmark boosted their price objective on GoDaddy from $186.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, October 31st. 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. B. Riley upped their target price on shares of GoDaddy from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Piper Sandler lifted their price objective on GoDaddy from $172.00 to $176.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada raised 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. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $173.31.

GoDaddy Trading Up 1.4 %

The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The company's 50-day moving average price is $165.74 and its 200-day moving average price is $152.83. The firm has a market capitalization of $27.48 billion, a PE ratio of 14.93 and a beta of 1.11.

GoDaddy (NYSE:GDDY - Get Free Report) last announced 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 company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm's revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.89 earnings per share. On average, sell-side analysts expect that GoDaddy Inc. will post 4.95 earnings per share for the current year.

Insider Activity at GoDaddy

In other GoDaddy news, CAO Nick Daddario sold 2,976 shares of GoDaddy stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $151.61, for a total value of $451,191.36. Following the sale, the chief accounting officer now owns 14,728 shares of the company's stock, valued at approximately $2,232,912.08. The trade was a 16.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $152.17, for a total value of $152,170.00. Following the transaction, the chief operating officer now directly owns 187,632 shares of the company's stock, valued at approximately $28,551,961.44. This trade represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,845 shares of company stock worth $4,803,380 in the last 90 days. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On GoDaddy

A number of institutional investors and hedge funds have recently modified their holdings of GDDY. State Street Corp raised its stake in GoDaddy by 2.2% in the 3rd quarter. State Street Corp now owns 6,892,134 shares of the technology company's stock valued at $1,080,549,000 after purchasing an additional 147,105 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of GoDaddy by 94.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company's stock valued at $433,895,000 after buying an additional 1,775,708 shares during the period. Geode Capital Management LLC boosted its position in GoDaddy by 2.5% during the third quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company's stock worth $535,153,000 after acquiring an additional 84,550 shares during the last quarter. FMR LLC grew its stake in GoDaddy by 19.8% in the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company's stock worth $260,299,000 after acquiring an additional 274,014 shares during the period. Finally, Federated Hermes Inc. raised its holdings in GoDaddy by 35.6% in the 2nd 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. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.