GoDaddy (NYSE:GDDY) Trading 2.2% Higher – Still a Buy?

GoDaddy Inc. (NYSE:GDDY)’s stock price shot up 2.2% during mid-day trading on Tuesday . The company traded as high as $202.16 and last traded at $201.78. 315,638 shares changed hands during trading, a decline of 78% from the average session volume of 1,456,494 shares. The stock had previously closed at $197.43.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Piper Sandler increased their target price on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. B. Riley raised their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Benchmark boosted their price target on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Robert W. Baird lifted their price objective on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.31.

GoDaddy Trading Up 1.9 %

The stock has a market cap of $28.25 billion, a PE ratio of 15.59 and a beta of 1.11. The stock’s fifty day moving average price is $167.56 and its 200 day moving average price is $154.07. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

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

Insider Activity

In related news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were 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 in the company, valued at approximately $28,551,961.44. The trade was a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total transaction of $500,730.00. Following the completion of the sale, the chief executive officer now directly owns 358,773 shares of the company’s stock, valued at $59,882,801.43. This represents a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,845 shares of company stock valued at $4,803,380 in the last 90 days. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GoDaddy

A number of institutional investors have recently bought and sold shares of the business. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of GoDaddy by 0.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock valued at $2,837,000 after buying an additional 67 shares in the last quarter. Prime Capital Investment Advisors LLC boosted its holdings in shares of GoDaddy by 4.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock worth $296,000 after purchasing an additional 73 shares during the period. Whittier Trust Co. increased its position in shares of GoDaddy by 4.3% during the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock valued at $249,000 after purchasing an additional 74 shares during the last quarter. Lindbrook Capital LLC raised its holdings in GoDaddy by 11.3% during the 3rd quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock valued at $153,000 after buying an additional 99 shares during the period. Finally, Equitable Trust Co. lifted its position in GoDaddy by 1.3% in the third quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock worth $1,322,000 after buying an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

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.