GoDaddy (NYSE:GDDY) Trading 5.4% Higher – Time to Buy?

GoDaddy Inc. (NYSE:GDDY) shares rose 5.4% on Tuesday . The stock traded as high as $97.44 and last traded at $97.3660. Approximately 71,042 shares were traded during trading, a decline of 97% from the average session volume of 2,304,788 shares. The stock had previously closed at $92.37.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. JPMorgan Chase & Co. decreased their target price on GoDaddy from $154.00 to $124.00 and set an “overweight” rating for the company in a research note on Thursday, June 18th. Piper Sandler reissued a “neutral” rating and issued a $95.00 price target (up from $93.00) on shares of GoDaddy in a report on Friday, July 31st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $90.00 price objective on shares of GoDaddy in a research report on Friday, July 31st. UBS Group started coverage on GoDaddy in a report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 price target on the stock. Finally, Wedbush reduced their price target on shares of GoDaddy from $109.00 to $93.00 and set an “outperform” rating for the company in a research note on Monday, August 3rd. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $110.33.

GoDaddy Trading Up 5.3%

The company has a debt-to-equity ratio of 561.10, a current ratio of 0.63 and a quick ratio of 0.63. The business has a fifty day moving average of $87.81 and a 200-day moving average of $87.58. The stock has a market capitalization of $12.32 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 0.85 and a beta of 0.90.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, July 30th. The technology company reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.14. GoDaddy had a net margin of 17.83% and a return on equity of 660.96%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the company earned $1.41 EPS. GoDaddy’s revenue was up 6.6% on a year-over-year basis. On average, equities analysts anticipate that GoDaddy Inc. will post 7.21 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In related news, CAO Phontip Palitwanon sold 2,261 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $91.81, for a total transaction of $207,582.41. Following the completion of the sale, the chief accounting officer directly owned 17,734 shares of the company’s stock, valued at $1,628,158.54. This represents a 11.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Mccaffrey sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $82.92, for a total transaction of $290,220.00. Following the sale, the chief financial officer owned 105,728 shares of the company’s stock, valued at $8,766,965.76. The trade was a 3.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 23,484 shares of company stock valued at $2,059,489 in the last ninety days. Company insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Several large investors have recently modified their holdings of the stock. Rachor Investment Advisory Services LLC acquired a new position in shares of GoDaddy in the 4th quarter worth $25,000. Activest Wealth Management boosted its position in shares of GoDaddy by 6,600.0% in the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after purchasing an additional 198 shares during the period. Brown Brothers Harriman & Co. increased its stake in GoDaddy by 145.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock worth $35,000 after purchasing an additional 150 shares in the last quarter. Harbour Investments Inc. raised its holdings in GoDaddy by 191.0% during the 4th quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock worth $32,000 after buying an additional 170 shares during the period. Finally, Entrust Financial LLC acquired a new stake in GoDaddy during the 4th quarter worth about $35,000. 90.28% of the stock is owned by institutional investors.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.