GoDaddy Inc. (NYSE:GDDY) Receives $181.57 Average Price Target from Brokerages

GoDaddy Inc. (NYSE:GDDYGet Free Report) has earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $181.57.

GDDY has been the subject of a number of research reports. JPMorgan Chase & Co. upped their price objective on GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Piper Sandler upped their target price on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Royal Bank of Canada reissued an “outperform” rating and set a $230.00 price target (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Barclays upped their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Finally, B. Riley lifted their target price on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st.

Read Our Latest Stock Report on GDDY

Insider Buying and Selling

In related news, CAO Phontip Palitwanon sold 1,554 shares of GoDaddy stock in a transaction on Monday, December 9th. The shares were sold at an average price of $203.90, for a total value of $316,860.60. Following the sale, the chief accounting officer now owns 21,505 shares in the company, valued at $4,384,869.50. The trade was a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total transaction of $466,800.00. Following the completion of the transaction, the chief executive officer now owns 348,956 shares of the company’s stock, valued at $54,297,553.60. This trade represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,503 shares of company stock valued at $3,950,683 over the last ninety days. 0.61% of the stock is owned by insiders.

Institutional Trading of GoDaddy

Several large investors have recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of GoDaddy in the 3rd quarter valued at approximately $27,000. Transcendent Capital Group LLC bought a new stake in shares of GoDaddy during the 2nd quarter valued at $28,000. ORG Wealth Partners LLC purchased a new stake in shares of GoDaddy in the 3rd quarter worth about $30,000. Anchor Investment Management LLC bought a new position in shares of GoDaddy in the 3rd quarter worth about $31,000. Finally, ORG Partners LLC purchased a new position in GoDaddy during the 2nd quarter valued at about $32,000. 90.28% of the stock is owned by institutional investors.

GoDaddy Trading Down 0.8 %

Shares of GDDY opened at $207.42 on Wednesday. GoDaddy has a 1-year low of $99.90 and a 1-year high of $211.11. The company has a market capitalization of $29.12 billion, a P/E ratio of 15.99 and a beta of 1.15. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The firm’s 50 day simple moving average is $181.71 and its 200 day simple moving average is $161.08.

GoDaddy (NYSE:GDDYGet Free Report) last posted its quarterly earnings data 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. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the company posted $0.89 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. Sell-side analysts forecast that GoDaddy will post 4.96 earnings per share for the current fiscal year.

GoDaddy Company Profile

(Get Free Report

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.

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Analyst Recommendations for GoDaddy (NYSE:GDDY)

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