GoDaddy (NYSE:GDDY) Sets New 12-Month High – Time to Buy?

GoDaddy Inc. (NYSE:GDDY) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $185.34 and last traded at $185.16, with a volume of 41364 shares trading hands. The stock had previously closed at $183.13.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GDDY. Benchmark upped their price target on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research note on Monday, October 7th. Piper Sandler increased 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. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, Raymond James increased their target price on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.38.

GoDaddy Price Performance

The firm has a market cap of $26.04 billion, a PE ratio of 14.32 and a beta of 1.11. The firm has a fifty day simple moving average of $160.27 and a two-hundred day simple moving average of $149.65. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results 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. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.89 EPS. Equities analysts predict that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insider Activity

In other news, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the sale, the chief financial officer now directly owns 101,286 shares of the company’s stock, valued at $16,686,868.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s 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 approximately $59,882,801.43. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,344 shares of company stock valued at $4,529,897 in the last ninety days. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Citigroup Inc. grew its position in shares of GoDaddy by 26.5% during the 3rd quarter. Citigroup Inc. now owns 195,228 shares of the technology company’s stock worth $30,608,000 after buying an additional 40,874 shares in the last quarter. Pacer Advisors Inc. boosted its position in GoDaddy by 24.1% during the third quarter. Pacer Advisors Inc. now owns 53,298 shares of the technology company’s stock valued at $8,356,000 after purchasing an additional 10,345 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in GoDaddy by 5.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 39,785 shares of the technology company’s stock valued at $6,237,000 after purchasing an additional 2,124 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in GoDaddy during the third quarter valued at about $1,097,000. Finally, Intech Investment Management LLC boosted its position in GoDaddy by 498.7% during the third quarter. Intech Investment Management LLC now owns 253,367 shares of the technology company’s stock valued at $39,723,000 after purchasing an additional 211,051 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

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.