GoDaddy Inc. (NYSE:GDDY) Receives Average Recommendation of “Moderate Buy” from Brokerages
GoDaddy Inc. (NYSE:GDDY – Get Rating) has been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $93.70.
GDDY has been the subject of a number of analyst reports. StockNews.com began coverage on GoDaddy in a research report on Thursday, March 16th. They issued a “buy” rating for the company. Benchmark reaffirmed a “buy” rating and set a $100.00 target price on shares of GoDaddy in a research note on Monday, February 13th. Jefferies Financial Group cut shares of GoDaddy from a “buy” rating to a “hold” rating and set a $80.00 price target for the company. in a research note on Monday, January 9th. Piper Sandler lowered shares of GoDaddy from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $100.00 to $88.00 in a research report on Tuesday, March 21st. Finally, Barclays lowered their price objective on GoDaddy from $104.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, February 15th.
GoDaddy Stock Up 1.4 %
GoDaddy stock opened at $76.79 on Friday. GoDaddy has a 52 week low of $64.65 and a 52 week high of $87.92. The business’s 50-day moving average price is $76.08 and its 200 day moving average price is $76.14. The firm has a market cap of $11.81 billion, a price-to-earnings ratio of 34.90, a price-to-earnings-growth ratio of 1.91 and a beta of 0.98.
GoDaddy (NYSE:GDDY – Get Rating) last released its earnings results on Tuesday, February 14th. The technology company reported $0.62 EPS for the quarter, hitting analysts’ consensus estimates of $0.62. GoDaddy had a net margin of 8.61% and a negative return on equity of 93.48%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Equities analysts expect that GoDaddy will post 2.7 EPS for the current year.
Insider Activity at GoDaddy
In other news, CEO Amanpal Singh Bhutani sold 7,950 shares of the stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $74.96, for a total transaction of $595,932.00. Following the sale, the chief executive officer now owns 280,245 shares of the company’s stock, valued at $21,007,165.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Michele Lau sold 344 shares of GoDaddy stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $84.26, for a total value of $28,985.44. Following the completion of the transaction, the insider now owns 62,209 shares in the company, valued at approximately $5,241,730.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amanpal Singh Bhutani sold 7,950 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $74.96, for a total transaction of $595,932.00. Following the sale, the chief executive officer now owns 280,245 shares in the company, valued at $21,007,165.20. The disclosure for this sale can be found here. Insiders sold 25,935 shares of company stock worth $1,982,060 in the last three months. 0.37% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in GDDY. WINTON GROUP Ltd purchased a new position in GoDaddy in the third quarter valued at $390,000. The Manufacturers Life Insurance Company lifted its stake in GoDaddy by 17.8% during the third quarter. The Manufacturers Life Insurance Company now owns 9,482 shares of the technology company’s stock worth $672,000 after purchasing an additional 1,434 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in GoDaddy by 10.9% in the third quarter. Guggenheim Capital LLC now owns 6,039 shares of the technology company’s stock valued at $428,000 after purchasing an additional 596 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in GoDaddy by 243.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 197,750 shares of the technology company’s stock valued at $14,016,000 after purchasing an additional 140,140 shares during the last quarter. Finally, Sentry Investment Management LLC purchased a new position in GoDaddy in the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 97.32% of the company’s stock.
About GoDaddy
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.
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