GoDaddy (NYSE:GDDY) Stock Price Up 1.3% – What’s Next?

Shares of GoDaddy Inc. (NYSE:GDDY) shot up 1.3% during trading on Wednesday . The stock traded as high as $208.00 and last traded at $207.55. 151,489 shares changed hands during trading, a decline of 90% from the average session volume of 1,460,806 shares. The stock had previously closed at $204.85.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GDDY. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 target price (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Robert W. Baird raised their price target on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Piper Sandler lifted their price objective on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Benchmark increased their target price on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $181.57.

GoDaddy Stock Performance

The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $29.06 billion, a price-to-earnings ratio of 16.03 and a beta of 1.15. The firm’s 50-day moving average price is $177.46 and its two-hundred day moving average price is $159.13.

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

Insider Activity

In other news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total transaction of $855,800.00. Following the sale, the chief financial officer now owns 93,102 shares in the company, valued at approximately $14,486,671.20. This represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $152.17, for a total value of $152,170.00. Following the completion of the transaction, the chief operating officer now directly owns 187,632 shares of the company’s stock, valued at $28,551,961.44. This represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,949 shares of company stock worth $3,785,993. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

A number of institutional investors have recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new stake in shares of GoDaddy in the third quarter valued at approximately $27,000. Transcendent Capital Group LLC acquired a new stake in shares of GoDaddy in the 2nd quarter valued at $28,000. ORG Wealth Partners LLC acquired a new position in shares of GoDaddy during the third quarter valued at $30,000. Anchor Investment Management LLC acquired a new stake in GoDaddy in the third quarter worth about $31,000. Finally, ORG Partners LLC bought a new stake in GoDaddy during the 2nd quarter worth about $32,000. 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.