GoDaddy (NYSE:GDDY) Earns Buy Rating from Benchmark

Benchmark reiterated their buy rating on shares of GoDaddy (NYSE:GDDY) in a research report released on Wednesday, Benzinga reports. They currently have a $150.00 target price on the technology company’s stock.

A number of other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of GoDaddy from $128.00 to $136.00 and gave the company an overweight rating in a report on Tuesday, April 2nd. Royal Bank of Canada reaffirmed an outperform rating and issued a $124.00 price target on shares of GoDaddy in a report on Thursday, March 7th. Piper Sandler increased their price objective on GoDaddy from $130.00 to $145.00 and gave the company an overweight rating in a report on Thursday, March 7th. StockNews.com raised GoDaddy from a buy rating to a strong-buy rating in a research report on Wednesday, February 14th. Finally, Evercore ISI lowered GoDaddy from an outperform rating to an in-line rating and upped their target price for the company from $100.00 to $110.00 in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $135.18.

GoDaddy Trading Down 0.0 %

NYSE GDDY opened at $122.33 on Wednesday. GoDaddy has a one year low of $67.43 and a one year high of $127.15. The company has a debt-to-equity ratio of 61.07, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $17.43 billion, a price-to-earnings ratio of 12.77 and a beta of 1.08. The company’s 50-day simple moving average is $119.59 and its two-hundred day simple moving average is $105.98.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.05. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. GoDaddy had a net margin of 32.74% and a negative return on equity of 89.25%. Equities analysts forecast that GoDaddy will post 4.76 EPS for the current fiscal year.

Insider Transactions at GoDaddy

In other news, CAO Nick Daddario sold 1,823 shares of GoDaddy stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $201,514.42. Following the completion of the transaction, the chief accounting officer now directly owns 25,263 shares of the company’s stock, valued at approximately $2,792,572.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other GoDaddy news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $118.56, for a total value of $474,240.00. Following the sale, the chief operating officer now directly owns 204,632 shares of the company’s stock, valued at $24,261,169.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Nick Daddario sold 1,823 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $201,514.42. Following the transaction, the chief accounting officer now directly owns 25,263 shares of the company’s stock, valued at $2,792,572.02. The disclosure for this sale can be found here. Insiders have sold 121,234 shares of company stock worth $13,534,946 over the last quarter. 0.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GoDaddy

Several institutional investors and hedge funds have recently added to or reduced their stakes in GDDY. Louisiana State Employees Retirement System acquired a new stake in shares of GoDaddy in the fourth quarter valued at about $4,204,000. SG Americas Securities LLC increased its stake in GoDaddy by 644.6% during the 4th quarter. SG Americas Securities LLC now owns 149,643 shares of the technology company’s stock worth $15,886,000 after buying an additional 129,547 shares in the last quarter. Horrell Capital Management Inc. lifted its position in shares of GoDaddy by 41.7% in the fourth quarter. Horrell Capital Management Inc. now owns 68,000 shares of the technology company’s stock valued at $7,219,000 after acquiring an additional 20,000 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of GoDaddy in the fourth quarter worth approximately $773,000. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of GoDaddy during the fourth quarter worth approximately $2,328,000. Hedge funds and other institutional investors 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.