GoDaddy (NYSE:GDDY) Earns Buy Rating from Benchmark

Benchmark reaffirmed their buy rating on shares of GoDaddy (NYSE:GDDY) in a research report released on Tuesday morning, Benzinga reports. Benchmark currently has a $186.00 target price on the technology company’s stock.

Several other analysts also recently commented on GDDY. Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research note on Monday, October 7th. Robert W. Baird raised their price objective on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Piper Sandler reiterated a “neutral” rating and issued a $172.00 target price (up from $160.00) on shares of GoDaddy in a report on Monday, September 23rd. Finally, B. Riley boosted their price target on shares of GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Five research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $166.54.

GoDaddy Stock Up 0.3 %

Shares of GoDaddy stock opened at $164.42 on Tuesday. The firm has a market cap of $23.46 billion, a price-to-earnings ratio of 13.66 and a beta of 1.12. The stock’s 50-day moving average is $159.00 and its 200 day moving average is $144.17. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. GoDaddy has a one year low of $71.15 and a one year high of $167.65.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the business earned $0.63 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities research analysts anticipate that GoDaddy will post 5.07 EPS for the current year.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction 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 sale, the chief executive officer now directly owns 358,773 shares in the company, valued at approximately $59,882,801.43. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total transaction of $906,125.00. Following the completion of the transaction, the chief financial officer now directly owns 101,286 shares of the company’s stock, valued at $16,686,868.50. 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. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy 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 in the company, valued at $59,882,801.43. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,744 shares of company stock valued at $5,114,931 over the last three months. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Institutional investors and hedge funds have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in GoDaddy in the 4th quarter worth about $28,000. Kapitalo Investimentos Ltda purchased a new position in shares of GoDaddy in the fourth quarter worth about $70,000. GAMMA Investing LLC raised its position in shares of GoDaddy by 102.3% in the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after purchasing an additional 133 shares during the period. Mather Group LLC. purchased a new stake in shares of GoDaddy during the 1st quarter valued at approximately $62,000. Finally, Rise Advisors LLC bought a new position in GoDaddy in the 1st quarter worth approximately $48,000. 90.28% of the stock is owned by institutional investors.

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.