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

GoDaddy Inc. (NYSE:GDDY) has received a consensus recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $198.07.

GDDY has been the topic of several research analyst reports. Morgan Stanley raised their price target on GoDaddy from $189.00 to $227.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. B. Riley raised their price target on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Piper Sandler raised their price target on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Robert W. Baird raised their price target on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, Raymond James lifted their target price on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st.

Insider Buying and Selling at GoDaddy

In other news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the completion of the transaction, the director now owns 24,121 shares in the company, valued at approximately $4,317,659. The trade was a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the completion of the transaction, the chief financial officer now owns 84,300 shares of the company’s stock, valued at $16,776,543. This trade represents a 6.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,983 shares of company stock valued at $4,983,133. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GDDY. Susquehanna Fundamental Investments LLC bought a new position in GoDaddy in the 2nd quarter worth approximately $1,481,000. Ascent Group LLC bought a new position in GoDaddy in the 2nd quarter worth approximately $277,000. Creative Planning raised its position in GoDaddy by 88.6% in the 2nd quarter. Creative Planning now owns 10,019 shares of the technology company’s stock worth $1,400,000 after purchasing an additional 4,707 shares during the last quarter. NewEdge Advisors LLC raised its position in GoDaddy by 214.2% in the 2nd quarter. NewEdge Advisors LLC now owns 9,105 shares of the technology company’s stock worth $1,272,000 after purchasing an additional 6,207 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new position in GoDaddy in the 2nd quarter worth approximately $245,000. Institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

NYSE GDDY opened at $209.64 on Thursday. The firm has a market cap of $29.43 billion, a P/E ratio of 16.20 and a beta of 1.15. The stock’s 50-day moving average is $203.64 and its two-hundred day moving average is $177.05. GoDaddy has a fifty-two week low of $107.92 and a fifty-two week high of $216.00. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.

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.