GoDaddy (NYSE:GDDY) Earns Buy Rating from Benchmark

Benchmark reiterated their buy rating on shares of GoDaddy (NYSE:GDDY) in a research note published on Wednesday morning, Benzinga reports. Benchmark currently has a $150.00 target price on the technology company’s stock.

GDDY has been the subject of a number of other research reports. Evercore ISI lowered GoDaddy from an outperform rating to an in-line rating and raised their price target for the stock from $100.00 to $110.00 in a research note on Wednesday, February 14th. UBS Group increased their price target on shares of GoDaddy from $110.00 to $118.00 and gave the stock a neutral rating in a research note on Wednesday, February 14th. B. Riley lifted their price objective on GoDaddy from $124.00 to $142.00 and gave the company a buy rating in a research report on Thursday, March 7th. Royal Bank of Canada reiterated an outperform rating and issued a $124.00 price objective on shares of GoDaddy in a report on Thursday, March 7th. Finally, StockNews.com upgraded shares of GoDaddy from a buy rating to a strong-buy rating in a report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, GoDaddy presently has a consensus rating of Moderate Buy and an average price target of $142.73.

GoDaddy Trading Down 0.6 %

NYSE:GDDY opened at $123.64 on Wednesday. The firm has a market capitalization of $17.62 billion, a P/E ratio of 10.27 and a beta of 1.09. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 61.07. The company has a fifty day moving average of $119.99 and a 200 day moving average of $106.44. GoDaddy has a 52 week low of $67.43 and a 52 week high of $127.99.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.05. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. GoDaddy had a net margin of 40.38% and a negative return on equity of 102.82%. On average, research analysts predict that GoDaddy will post 4.93 earnings per share for the current year.

Insider Transactions at GoDaddy

In other GoDaddy news, CAO Nick Daddario sold 1,823 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $201,514.42. Following the sale, the chief accounting officer now directly owns 25,263 shares in the company, valued at approximately $2,792,572.02. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other GoDaddy news, CAO Nick Daddario sold 1,823 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $201,514.42. Following the transaction, the chief accounting officer now owns 25,263 shares in the company, valued at approximately $2,792,572.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 8,687 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $114.11, for a total transaction of $991,273.57. Following the sale, the chief executive officer now directly owns 454,031 shares in the company, valued at approximately $51,809,477.41. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 125,234 shares of company stock worth $14,025,346. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of GoDaddy

Large investors have recently added to or reduced their stakes in the business. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in GoDaddy by 17.7% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 59,774 shares of the technology company’s stock valued at $4,452,000 after purchasing an additional 9,000 shares during the period. Xponance Inc. increased its holdings in GoDaddy by 79.8% in the 3rd quarter. Xponance Inc. now owns 27,804 shares of the technology company’s stock worth $2,071,000 after acquiring an additional 12,343 shares in the last quarter. Bank of New York Mellon Corp raised its stake in GoDaddy by 88.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,435,153 shares of the technology company’s stock worth $106,890,000 after acquiring an additional 674,719 shares during the period. Diversified Investment Strategies LLC raised its stake in GoDaddy by 4.7% during the 3rd quarter. Diversified Investment Strategies LLC now owns 104,695 shares of the technology company’s stock worth $7,798,000 after acquiring an additional 4,690 shares during the period. Finally, New York State Teachers Retirement System boosted its position in shares of GoDaddy by 472.7% in the third quarter. New York State Teachers Retirement System now owns 79,612 shares of the technology company’s stock worth $5,930,000 after purchasing an additional 65,712 shares during the period. 90.28% of the stock is currently owned by institutional investors.

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.