Analysts Set GoDaddy Inc. (NYSE:GDDY) PT at $181.14

GoDaddy Inc. (NYSE:GDDY) has been given a consensus recommendation of “Moderate Buy” by the fifteen brokerages that are covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $181.1429.

Several equities research analysts recently weighed in on the stock. B. Riley reduced their price target on shares of GoDaddy from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, October 31st. JPMorgan Chase & Co. cut their target price on GoDaddy from $222.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Wells Fargo & Company reduced their target price on GoDaddy from $157.00 to $145.00 and set an “equal weight” rating for the company in a report on Monday, October 6th. Morgan Stanley set a $159.00 price target on GoDaddy in a research note on Friday, October 31st. Finally, Citigroup dropped their price objective on GoDaddy from $214.00 to $195.00 and set a “buy” rating on the stock in a research report on Friday, October 31st.

GoDaddy Price Performance

GDDY opened at $126.63 on Friday. The firm has a market cap of $17.11 billion, a PE ratio of 21.87, a P/E/G ratio of 1.41 and a beta of 0.95. The stock has a 50-day moving average price of $128.78 and a 200-day moving average price of $146.44. GoDaddy has a 1 year low of $121.94 and a 1 year high of $216.00. The company has a debt-to-equity ratio of 41.06, a current ratio of 0.57 and a quick ratio of 0.57.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, October 30th. The technology company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.23 billion. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. GoDaddy’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the business earned $1.32 EPS. Sell-side analysts predict that GoDaddy will post 6.63 earnings per share for the current fiscal year.

Insider Activity at GoDaddy

In other news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $133.11, for a total value of $66,555.00. Following the completion of the sale, the director directly owned 19,957 shares in the company, valued at $2,656,476.27. The trade was a 2.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark Mccaffrey sold 3,317 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total transaction of $424,376.98. Following the transaction, the chief financial officer directly owned 66,816 shares of the company’s stock, valued at $8,548,439.04. The trade was a 4.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 14,615 shares of company stock worth $1,877,942. 0.70% of the stock is owned by insiders.

Hedge Funds Weigh In On GoDaddy

Several hedge funds and other institutional investors have recently modified their holdings of GDDY. Hudson Bay Capital Management LP bought a new stake in shares of GoDaddy in the third quarter worth $309,000. Allworth Financial LP grew its stake in shares of GoDaddy by 20.3% during the 3rd quarter. Allworth Financial LP now owns 2,046 shares of the technology company’s stock valued at $280,000 after purchasing an additional 345 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of GoDaddy by 67.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 610 shares of the technology company’s stock valued at $83,000 after purchasing an additional 245 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of GoDaddy in the 3rd quarter worth approximately $2,633,000. Finally, Coldstream Capital Management Inc. lifted its stake in shares of GoDaddy by 4.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company’s stock worth $258,000 after purchasing an additional 86 shares during the period. 90.28% of the stock is owned by institutional investors.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.