GoDaddy Inc. (NYSE:GDDY) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of GoDaddy Inc. (NYSE:GDDY – Get Rating) have been given a consensus rating of “Moderate Buy” by the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $101.40.

GDDY has been the topic of several analyst reports. Barclays reduced their price target on GoDaddy from $118.00 to $104.00 and set an “overweight” rating on the stock in a report on Tuesday. Jefferies Financial Group cut their price objective on GoDaddy from $110.00 to $100.00 in a research report on Tuesday, May 31st. Benchmark raised their price objective on GoDaddy from $102.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, May 5th. Piper Sandler raised GoDaddy from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $94.00 to $110.00 in a research report on Monday, April 25th. Finally, StockNews.com assumed coverage on GoDaddy in a research report on Thursday, March 31st. They issued a “buy” rating for the company.

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 1,516 shares of the business’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $73.76, for a total value of $111,820.16. Following the completion of the sale, the chief executive officer now owns 222,535 shares in the company, valued at $16,414,181.60. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last quarter, insiders sold 3,637 shares of company stock valued at $294,262. 0.37% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of GoDaddy by 0.7% in the first quarter. Vanguard Group Inc. now owns 16,202,298 shares of the technology company’s stock valued at $1,356,131,000 after purchasing an additional 107,949 shares during the period. Capital International Investors increased its holdings in shares of GoDaddy by 0.9% in the first quarter. Capital International Investors now owns 15,180,010 shares of the technology company’s stock valued at $1,270,920,000 after purchasing an additional 137,885 shares during the period. Wellington Management Group LLP grew its holdings in GoDaddy by 28.5% during the first quarter. Wellington Management Group LLP now owns 13,754,555 shares of the technology company’s stock worth $1,151,257,000 after acquiring an additional 3,052,975 shares during the period. Starboard Value LP grew its holdings in GoDaddy by 21.5% during the first quarter. Starboard Value LP now owns 8,250,420 shares of the technology company’s stock worth $690,560,000 after acquiring an additional 1,459,021 shares during the period. Finally, State Street Corp grew its holdings in GoDaddy by 2.3% during the first quarter. State Street Corp now owns 3,941,457 shares of the technology company’s stock worth $329,900,000 after acquiring an additional 90,041 shares during the period. 98.38% of the stock is currently owned by institutional investors and hedge funds.

Shares of GDDY stock opened at $66.19 on Friday. The stock’s fifty day moving average is $75.68 and its two-hundred day moving average is $77.65. The company has a debt-to-equity ratio of 46.37, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market capitalization of $10.73 billion, a P/E ratio of 37.19, a PEG ratio of 2.14 and a beta of 0.97. GoDaddy has a fifty-two week low of $64.81 and a fifty-two week high of $90.43.

GoDaddy (NYSE:GDDY – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The technology company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $989.20 million. GoDaddy had a net margin of 7.66% and a negative return on equity of 231.58%. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.06 EPS. On average, equities analysts forecast that GoDaddy will post 2.05 earnings per share for the current year.

GoDaddy Company Profile (Get Rating)

GoDaddy Inc engages in the design and development of cloud-based technology products in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity. It also offers shared Website hosting products that provide various applications and products, such as web analytics, Secure Sockets Layer certificates, and WordPress; Website hosting on virtual private servers and virtual dedicated servers products, which allows customers to select the server configuration suited for their applications, requirements, and growth; managed hosting products to set up, monitor, maintain, secure, and patch software and servers for customers; and security products, a suite of tools designed to help secure customers' online presence.

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