GoDaddy (NYSE:GDDY) Earns Buy Rating from Benchmark

GoDaddy (NYSE:GDDY)‘s stock had its “buy” rating reissued by Benchmark in a note issued to investors on Tuesday, Benzinga reports. They currently have a $186.00 price target on the technology company’s stock. Benchmark’s price objective suggests a potential upside of 13.67% from the stock’s current price.

Several other research analysts have also issued reports on GDDY. Piper Sandler restated a “neutral” rating and issued a $172.00 price target (up from $160.00) on shares of GoDaddy in a research report on Monday, September 23rd. B. Riley boosted their target price on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Barclays upped their price target on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Raymond James lifted their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Robert W. Baird upped their target price on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $166.54.

GoDaddy Trading Down 0.3 %

GoDaddy stock traded down $0.44 during mid-day trading on Tuesday, hitting $163.63. The stock had a trading volume of 34,043 shares, compared to its average volume of 1,493,437. The stock has a 50-day simple moving average of $158.41 and a two-hundred day simple moving average of $143.58. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. The stock has a market capitalization of $23.35 billion, a PE ratio of 13.62 and a beta of 1.12. GoDaddy has a 12 month low of $71.15 and a 12 month high of $167.65.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results 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 business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts forecast that GoDaddy will post 5.07 EPS for the current year.

Insider Buying and Selling

In related news, Director Sigal Zarmi sold 400 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the completion of the transaction, the director now owns 4,661 shares in the company, valued at approximately $734,620.21. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other GoDaddy news, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total transaction of $585,920.00. Following the transaction, the chief operating officer now owns 188,632 shares of the company’s stock, valued at $27,630,815.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sigal Zarmi sold 400 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the sale, the director now owns 4,661 shares in the company, valued at approximately $734,620.21. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,744 shares of company stock worth $4,950,771. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GoDaddy

A number of institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in shares of GoDaddy in the 4th quarter valued at about $28,000. Transcendent Capital Group LLC acquired a new position in GoDaddy during the second quarter worth approximately $28,000. ORG Wealth Partners LLC bought a new stake in GoDaddy in the third quarter valued at approximately $30,000. GAMMA Investing LLC lifted 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 buying an additional 133 shares during the last quarter. Finally, ORG Partners LLC bought a new position in shares of GoDaddy during the 2nd quarter worth approximately $32,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

About GoDaddy

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.