GoDaddy Inc. (NYSE:GDDY) ‘Buy’ Given Brokers Unanimous Recommendation

Shares of GoDaddy Inc. (NYSE: GDDY – Get Rating) have received an average “buy” rating from the eight research firms that currently cover the company, according to MarketBeat Ratings. One research analyst has a hold rating on the stock, four have a buy rating and one has a strong buy rating on the company. The average 1-year price target for brokers reporting on the stock last year was $101.00.

Several research firms have recently commented on GDDY. Raymond James lowered his price target on GoDaddy stock to $100.00 from $108.00 and assigned a “strong buy” rating to the stock in a research note on Thursday, Aug. 4. Morgan Stanley raised its price target on GoDaddy stock to $93.00 from $91.00 in a report on Thursday, Aug. 4, and gave the company an “equal weight” rating. In a Thursday, Aug. 4 report, Barclays raised its price target on GoDaddy stock to $107.00 from $104.00 and gave the company an “overweight” rating. StockNews.com began covering GoDaddy stock in a report on Wednesday, October 12. They have a “buy” rating on the stock. Finally, Evercore ISI raised its price target on GoDaddy stock to $91.00 in a report on Tuesday, Aug. 9.

Insider Activities

In other news, insider Emily Liu sold 7,274 shares of the company in trading on Tuesday, Aug. 2. The shares sold at an average price of $73.88 for a total transaction value of $537,403.12. After the transaction, the insider now owns 63,009 shares of the company’s stock, worth about $4,655,104.92. The transaction was disclosed in an SEC filing, which can be found at this hyperlink. In other news, insider Emily Liu sold 7,274 shares of the company in trading on Tuesday, Aug. 2. The shares sold at an average price of $73.88 for a total transaction value of $537,403.12. After the transaction, the insider now owns 63,009 shares of the company’s stock, worth about $4,655,104.92. The transaction was disclosed in an SEC filing, which can be found at this hyperlink. In addition, Chief Financial Officer Mark McCcaffrey sold 915 shares of the company in trading on Tuesday, October 4. The shares sold at an average price of $74.51 for a combined transaction value of $68,176.65. Following the transaction, the CFO now directly owns 81,335 shares of the company’s stock, worth approximately $6,060,270.85. Disclosures for this sale can be found here. Insiders sold a total of 13,566 company shares worth $1,008,092 in the past 90 days. 0.37% of shares are currently held by insiders.

Institutional Transactions at GoDaddy

Some institutional investors and hedge funds have recently bought and sold the company’s stock. Quadrant Capital Group LLC increased its position in GoDaddy by 23.3% in the first quarter. Quadrant Capital Group LLC now owns 947 shares of the tech company’s stock, worth $79,000, after buying an additional 179 shares in the previous quarter. Tokio Marine Asset Management Co. Ltd. increased its position in GoDaddy by 3.9% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,279 shares of the tech company’s stock, worth $367,000, after buying an additional 200 shares in the previous quarter. In the first quarter, Tobam’s ranking on GoDaddy increased by 31.7%. Tobam ​​now owns 872 shares of the tech company’s stock, valued at $73,000, after buying an additional 210 shares in the previous quarter. Raymond James Trust NA’s ranking on GoDaddy increased 6.8% in the second quarter. Raymond James Trust NA now owns 3,430 shares of the tech company’s stock, valued at $238,000, after acquiring an additional 218 shares last quarter. Finally, Column Capital Advisors LLC increased its position in GoDaddy by 25.4% in the first quarter. Column Capital Advisors LLC now owns 1,080 shares of the tech company’s stock, valued at $90,000, after buying an additional 219 shares in the previous quarter. Institutional investors and hedge funds own 96.50% of the company’s stock.

GoDaddy stock performance

Shares of GDDY on the New York Stock Exchange opened Friday at $79.88. The company has a market cap of $12.52 billion, a price-to-earnings ratio of 38.59, a PEG ratio of 2.34, and a beta of 0.93. GoDaddy had a one-year low of $64.81 and a one-year high of $88.32. The company’s 50-day moving average is $75.57 and its 200-day moving average is $75.26.

GoDaddy (NYSE: GDDY – Get Rating) last released quarterly earnings data on Wednesday, August 3rd. The tech company reported earnings per share of $0.56 for the quarter, beating the consensus estimate of $0.47 by $0.09. GoDaddy has a net profit margin of 8.58% and a return on equity of 147.44%. The business reported revenue of $1.02 billion for the quarter, compared with analysts’ estimates of $1.02 billion. On average, sell-side analysts forecast GoDaddy’s earnings per share at 2.2 times this fiscal year.

About GoDaddy

(get a rating)

GoDaddy Inc designs and develops cloud-based technology products in the United States and internationally. The company offers domain registration products that can attract customers in the initial stages of establishing a digital identity. It also offers shared website hosting products that offer a variety of applications and products such as web analytics, Secure Sockets Layer certificates, and WordPress; websites hosted on virtual private servers and virtual private server products, allowing customers to choose the applications, requirements, and growing server configurations; managed products, which are used to set up, monitor, maintain, secure and patch software and servers for customers; and security products, a suite of tools designed to help protect customers’ online presence.

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Analyst Recommendations for GoDaddy (NYSE: GDDY)

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