GoDaddy (NYSE:GDDY) Trading Up 1% - Time to Buy?

GoDaddy Inc. (NYSE:GDDY - Get Free Report)'s share price was up 1% during trading on Thursday . The company traded as high as $192.08 and last traded at $192.07. Approximately 183,031 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 1,453,405 shares. The stock had previously closed at $190.12.

Wall Street Analysts Forecast Growth

GDDY has been the topic of several recent analyst reports. Piper Sandler increased their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. B. Riley lifted their price target on GoDaddy from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Cantor Fitzgerald reissued a "neutral" rating and issued a $170.00 price objective on shares of GoDaddy in a report on Monday, October 7th. Benchmark lifted their target price on shares of GoDaddy from $186.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Finally, Raymond James lifted their price target on shares of GoDaddy from $150.00 to $175.00 and gave the company a "strong-buy" rating in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $173.31.

GoDaddy Trading Up 1.2 %

The firm has a market capitalization of $27.02 billion, a price-to-earnings ratio of 14.84 and a beta of 1.11. 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 has a 50-day moving average price of $164.93 and a 200-day moving average price of $152.55.

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. As a group, research analysts forecast that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the firm'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 transaction, the director now owns 24,121 shares of the company's stock, valued at $4,317,659. This trade represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the sale, the chief financial officer now directly owns 101,286 shares of the company's stock, valued at $16,686,868.50. The trade was a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,845 shares of company stock worth $4,803,380 over the last 90 days. Corporate insiders own 0.61% of the company's stock.

Institutional Trading of GoDaddy

A number of hedge funds have recently added to or reduced their stakes in GDDY. Price T Rowe Associates Inc. MD raised its stake in shares of GoDaddy by 94.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company's stock worth $433,895,000 after buying an additional 1,775,708 shares in the last quarter. Kodai Capital Management LP purchased a new position in GoDaddy in the 1st quarter valued at approximately $75,855,000. Federated Hermes Inc. increased its stake 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 purchasing an additional 394,399 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in GoDaddy by 2,279.5% in the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company's stock valued at $62,908,000 after purchasing an additional 384,386 shares in the last quarter. Finally, Mizuho Securities USA LLC increased its stake in GoDaddy by 3,227.3% in the 3rd 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 in the last quarter. 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.

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