GoDaddy (NYSE:GDDY) Earns Buy Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of GoDaddy (NYSE:GDDY – Get Rating) in a research report report published on Thursday. The firm issued a buy rating on the technology company’s stock.

A number of other research analysts have also recently issued reports on GDDY. Raymond James lifted their target price on shares of GoDaddy from $88.00 to $94.00 and gave the company a strong-buy rating in a research note on Wednesday, February 15th. Barclays lowered their price target on shares of GoDaddy from $104.00 to $100.00 and set an overweight rating for the company in a report on Wednesday, February 15th. Benchmark reissued a buy rating and issued a $100.00 price target on shares of GoDaddy in a report on Monday, February 13th. Piper Sandler reissued an overweight rating and issued a $100.00 price target on shares of GoDaddy in a report on Friday, February 10th. Finally, Evercore ISI raised shares of GoDaddy from an in-line rating to an outperform rating and raised their price target for the company from $86.00 to $103.00 in a report on Wednesday, January 18th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $94.89.

GoDaddy Trading Up 0.2 %

NYSE:GDDY opened at $73.14 on Thursday. GoDaddy has a 1 year low of $64.65 and a 1 year high of $88.32. The firm has a 50 day moving average of $77.86 and a 200-day moving average of $75.86. The stock has a market capitalization of $11.25 billion, a P/E ratio of 33.25, a price-to-earnings-growth ratio of 1.80 and a beta of 0.97.

GoDaddy (NYSE:GDDY – Get Rating) last posted its earnings results on Tuesday, February 14th. The technology company reported $0.62 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.62. GoDaddy had a net margin of 8.61% and a negative return on equity of 93.48%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.04 billion. As a group, analysts forecast that GoDaddy will post 2.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other GoDaddy news, CFO Mark Mccaffrey sold 5,000 shares of GoDaddy stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $75.81, for a total transaction of $379,050.00. Following the completion of the sale, the chief financial officer now owns 94,106 shares of the company’s stock, valued at approximately $7,134,175.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Mark Mccaffrey sold 5,000 shares of the business’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $75.81, for a total value of $379,050.00. Following the completion of the transaction, the chief financial officer now owns 94,106 shares of the company’s stock, valued at approximately $7,134,175.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michele Lau sold 344 shares of the business’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $84.26, for a total transaction of $28,985.44. Following the completion of the transaction, the insider now directly owns 62,209 shares of the company’s stock, valued at approximately $5,241,730.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,484 shares of company stock valued at $2,237,822. Company insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Institutional investors and hedge funds have recently made changes to their positions in the company. Park Avenue Securities LLC lifted its position in GoDaddy by 2.0% in the 3rd quarter. Park Avenue Securities LLC now owns 7,120 shares of the technology company’s stock valued at $505,000 after acquiring an additional 139 shares in the last quarter. Commerce Bank lifted its position in GoDaddy by 0.3% in the 4th quarter. Commerce Bank now owns 45,494 shares of the technology company’s stock valued at $3,404,000 after acquiring an additional 142 shares in the last quarter. Ieq Capital LLC lifted its position in GoDaddy by 4.6% in the 3rd quarter. Ieq Capital LLC now owns 3,247 shares of the technology company’s stock valued at $230,000 after acquiring an additional 143 shares in the last quarter. CAPROCK Group Inc. lifted its position in GoDaddy by 4.3% in the 4th quarter. CAPROCK Group Inc. now owns 3,647 shares of the technology company’s stock valued at $273,000 after acquiring an additional 151 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in GoDaddy by 5.5% in the 3rd quarter. IFP Advisors Inc now owns 3,095 shares of the technology company’s stock valued at $230,000 after acquiring an additional 162 shares in the last quarter. Institutional investors and hedge funds own 97.32% of the company’s stock.

About GoDaddy

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GoDaddy, Inc engages in the provision of domain name registration and web hosting services. It provides website building, hosting, and security tools. It operates through the Applications and Commerce (A and C) and Core Platform (Core) segments. The A and C segment consists of sales of products containing proprietary software, commerce products and third-party email and productivity solutions.