GoDaddy (NYSE:GDDY) Hits New 52-Week High – Here’s What Happened

GoDaddy Inc. (NYSE:GDDY)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $185.34 and last traded at $185.16, with a volume of 41364 shares. The stock had previously closed at $183.13.

Analyst Upgrades and Downgrades

GDDY has been the subject of several research analyst reports. Piper Sandler raised their price objective on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Robert W. Baird lifted their price target on GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday. Raymond James lifted their price target on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada lifted their price target on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $171.38.

GoDaddy Price Performance

The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The stock has a market cap of $26.04 billion, a PE ratio of 14.32 and a beta of 1.11. The company has a fifty day moving average of $160.27 and a 200-day moving average of $149.65.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. GoDaddy’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 EPS. Sell-side analysts expect that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insider Transactions at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $152.17, for a total transaction of $152,170.00. Following the completion of the sale, the chief operating officer now directly owns 187,632 shares of the company’s stock, valued at $28,551,961.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total value of $500,730.00. Following the sale, the chief executive officer now owns 358,773 shares in the company, valued at $59,882,801.43. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $152.17, for a total value of $152,170.00. Following the completion of the sale, the chief operating officer now owns 187,632 shares in the company, valued at approximately $28,551,961.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,344 shares of company stock valued at $4,529,897. 0.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GoDaddy

A number of large investors have recently bought and sold shares of GDDY. Ashton Thomas Securities LLC acquired a new stake in GoDaddy during the 3rd quarter valued at $27,000. Transcendent Capital Group LLC acquired a new stake in shares of GoDaddy during the second quarter worth $28,000. ORG Wealth Partners LLC acquired a new stake in shares of GoDaddy during the third quarter worth $30,000. ORG Partners LLC acquired a new stake in shares of GoDaddy during the second quarter worth $32,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of GoDaddy during the second quarter worth $36,000. Institutional investors and hedge funds 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.