GoDaddy’s (GDDY) “Buy” Rating Reiterated at Benchmark

GoDaddy (NYSE:GDDY)‘s stock had its “buy” rating reissued by investment analysts at Benchmark in a research report issued on Monday, Benzinga reports. They currently have a $158.00 price objective on the technology company’s stock. Benchmark’s price objective suggests a potential upside of 9.38% from the stock’s current price.

GDDY has been the topic of several other reports. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Monday, July 22nd. Morgan Stanley raised their target price on GoDaddy from $132.00 to $137.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. raised their target price on GoDaddy from $136.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. Robert W. Baird raised their target price on GoDaddy from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Finally, William Blair restated an “outperform” rating on shares of GoDaddy in a report on Friday, May 3rd. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and an average target price of $152.92.

GoDaddy Stock Up 0.6 %

GDDY traded up $0.80 during trading on Monday, reaching $144.45. 255,654 shares of the stock traded hands, compared to its average volume of 1,619,411. The stock has a market cap of $20.61 billion, a price-to-earnings ratio of 12.01 and a beta of 1.14. GoDaddy has a fifty-two week low of $69.18 and a fifty-two week high of $148.71. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.55. The stock’s 50-day simple moving average is $141.15 and its two-hundred day simple moving average is $125.91.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.08. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. As a group, equities research analysts expect that GoDaddy will post 4.81 EPS for the current year.

Insider Activity at GoDaddy

In related news, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total transaction of $490,400.00. Following the transaction, the chief operating officer now directly owns 200,632 shares in the company, valued at $24,597,483.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total transaction of $490,400.00. Following the transaction, the chief operating officer now directly owns 200,632 shares in the company, valued at $24,597,483.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 4,058 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $133.69, for a total value of $542,514.02. Following the transaction, the chief financial officer now owns 112,473 shares in the company, valued at $15,036,515.37. The disclosure for this sale can be found here. Insiders have sold 50,071 shares of company stock worth $6,875,606 over the last three months. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

A number of institutional investors have recently added to or reduced their stakes in GDDY. V Square Quantitative Management LLC acquired a new stake in GoDaddy during the fourth quarter valued at approximately $28,000. Transcendent Capital Group LLC acquired a new position in shares of GoDaddy in the 2nd quarter worth approximately $28,000. GAMMA Investing LLC boosted its holdings in shares of GoDaddy by 102.3% in the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after acquiring an additional 133 shares in the last quarter. ORG Partners LLC acquired a new position in shares of GoDaddy in the 2nd quarter worth approximately $32,000. Finally, Frazier Financial Advisors LLC acquired a new position in shares of GoDaddy in the 4th quarter worth approximately $33,000. 90.28% of the stock is owned by institutional investors and hedge funds.

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.