GoDaddy (NYSE:GDDY) Upgraded at StockNews.com

StockNews.com upgraded shares of GoDaddy (NYSE:GDDY) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday.

Other equities research analysts have also issued reports about the stock. Piper Sandler increased their target price on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday. Barclays increased their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Royal Bank of Canada lifted their target price on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Raymond James increased their price target on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and a consensus target price of $171.38.

GoDaddy Trading Down 2.1 %

Shares of GoDaddy stock opened at $163.36 on Thursday. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.48. The stock has a market capitalization of $23.03 billion, a PE ratio of 12.62 and a beta of 1.11. GoDaddy has a 1-year low of $74.12 and a 1-year high of $171.93. The company’s fifty day simple moving average is $159.18 and its 200-day simple moving average is $147.27.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share 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 the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. GoDaddy’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.89 earnings per share. As a group, equities analysts anticipate that GoDaddy will post 5.09 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total transaction of $164,160.00. Following the sale, the chief operating officer now directly owns 186,632 shares of the company’s stock, valued at $30,637,509.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $164.16, for a total transaction of $164,160.00. Following the sale, the chief operating officer now directly owns 186,632 shares in the company, valued at approximately $30,637,509.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Nick Daddario sold 684 shares of GoDaddy stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total value of $107,545.32. Following the completion of the transaction, the chief accounting officer now owns 17,704 shares of the company’s stock, valued at approximately $2,783,599.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,744 shares of company stock worth $4,089,571 in the last quarter. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GoDaddy

Large investors have recently made changes to their positions in the company. ORG Wealth Partners LLC purchased a new position in GoDaddy during the 3rd quarter valued at $30,000. Transcendent Capital Group LLC purchased a new stake in shares of GoDaddy during the second quarter valued at $28,000. ORG Partners LLC purchased a new stake in shares of GoDaddy during the second quarter valued at $32,000. International Assets Investment Management LLC bought a new position in shares of GoDaddy in the second quarter worth about $36,000. Finally, Carolina Wealth Advisors LLC purchased a new position in GoDaddy in the 3rd quarter worth about $49,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

About GoDaddy

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.