GoDaddy Inc. (NYSE:GDDY) receives a consensus price target of $161.25 from brokerages

VaselineAugust 11, 2024

0 4 minutes read

GoDaddy Inc. (NYSE:GDDY – Get Your Free Report ) has earned an average recommendation of “Moderate Buy” from the fourteen analysts that are covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $161.25.

A number of equities analysts recently issued reports on the company. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Citigroup boosted their price objective on GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Benchmark restated a “buy” rating and set a $158.00 price objective on shares of GoDaddy in a research report on Monday, July 29th. William Blair restated an “outperform” rating on shares of GoDaddy in a research note on Friday, May 3rd. Finally, Raymond James upped their target price on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd.

Check out our latest report on GDDY

GoDaddy Stock Performance

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Shares of NYSE GDDY opened at $157.53 on Thursday. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55, and a quick ratio of 0.55. The stock has a fifty day moving average price of $143.17 and a two hundred day moving average price of $128.62. GoDaddy has a one year low of $69.18 and a one year high of $158.09. The firm has a market cap of $22.48 billion, a price-to-earnings ratio of 13.08 and a beta of 1.14.

GoDaddy (NYSE:GDDY – Get Your Free Report ) last released its earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.06). The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. GoDaddy had a negative return on equity of 363.95% and a net margin of 41.12%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the company posted earnings of $0.63 per share. On average, equities analysts anticipate that GoDaddy will post 4.81 EPS for the current year.

Insider buying and selling

In related news, CFO Mark McCaffrey sold 4,058 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $133.69, for a total value of $542,514.02. Following the sale, the chief financial officer now directly owns 112,473 shares in the company, valued at $15,036,515.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. In other news, CFO Mark McCaffrey sold 4,058 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $133.69, for a total transaction of $542,514.02. Following the transaction, the chief financial officer now owns 112,473 shares of the company’s stock, valued at $15,036,515.37. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total value of $439,440.00. Following the completion of the sale, the chief executive officer now owns 362,398 shares of the company’s stock, valued at approximately $53,084,059.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,071 shares of company stock worth $7,410,566. 0.61% of shares are owned by company insiders.

Hedge funds influence GoDaddy

Several hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp boosted its holdings in shares of GoDaddy by 27.4% during the fourth quarter. Fifth Third Bancorp now owns 730 shares of the technology company’s stock worth $77,000 after buying an additional 157 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of GoDaddy in the fourth quarter valued at $1,972,000. New York State Teachers Retirement System raised its stake in shares of GoDaddy by 31.9% in the fourth quarter. New York State Teachers Retirement System now owns 104,994 shares of the technology company’s stock worth $11,146,000 after purchasing an additional 25,382 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in GoDaddy by 11.3% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 18,164 shares of the technology company’s stock worth $1,906,000 after acquiring an additional 1,838 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of GoDaddy by 488.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 19,434 shares of the technology company’s stock worth $2,063,000 after purchasing an additional 16,134 shares in the last quarter. 90.28% of shares are owned by institutional investors and hedge funds.

GoDaddy Company Profile

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GoDaddy Inc is engaged 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 offers application products, including Websites + Marketing, a mobile-optimized online tool that enables customers to create e-commerce-enabled websites and online stores; and Managed WordPress, a simplified and optimized website builder that allows customers to easily build and manage a WordPress site faster; Managed WooCommerce stores to sell anything, anywhere online; and marketing tools and services such as the GoDaddy Studio mobile app, 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 .