Brokerages Set GoDaddy Inc. (NYSE:GDDY) PT at $167.21

Shares of GoDaddy Inc. (NYSE:GDDY) have earned an average recommendation of “Moderate Buy” from the fifteen brokerages that are covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $166.2143.

Several brokerages recently commented on GDDY. Wells Fargo & Company dropped their price target on shares of GoDaddy from $157.00 to $145.00 and set an “equal weight” rating for the company in a research report on Monday, October 6th. Evercore ISI cut their target price on GoDaddy from $180.00 to $145.00 and set an “in-line” rating on the stock in a research report on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of GoDaddy in a research report on Friday, October 31st. Raymond James Financial restated a “strong-buy” rating on shares of GoDaddy in a research note on Friday, October 31st. Finally, Royal Bank Of Canada set a $70.00 price objective on GoDaddy in a research note on Wednesday, January 7th.

Insider Buying and Selling at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 6,932 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $886,880.08. Following the completion of the sale, the chief executive officer owned 399,133 shares of the company’s stock, valued at $51,065,076.02. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Phontip Palitwanon sold 2,397 shares of GoDaddy stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $128.44, for a total transaction of $307,870.68. Following the transaction, the chief accounting officer owned 17,055 shares in the company, valued at $2,190,544.20. The trade was a 12.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 14,115 shares of company stock valued at $1,809,657 in the last ninety days. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of GoDaddy

Several large investors have recently bought and sold shares of the company. Hemington Wealth Management boosted its stake in shares of GoDaddy by 85.9% in the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after purchasing an additional 85 shares during the period. Bayforest Capital Ltd purchased a new position in GoDaddy in the 2nd quarter valued at about $26,000. NewSquare Capital LLC grew its stake in shares of GoDaddy by 170.9% during the second quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock valued at $27,000 after acquiring an additional 94 shares in the last quarter. Root Financial Partners LLC purchased a new stake in shares of GoDaddy during the third quarter worth about $31,000. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of GoDaddy by 145.6% in the third quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock worth $35,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $104.49 on Thursday. The company has a market cap of $14.12 billion, a P/E ratio of 18.05, a P/E/G ratio of 0.95 and a beta of 0.95. The business has a fifty day simple moving average of $124.03 and a 200-day simple moving average of $139.17. GoDaddy has a 52 week low of $104.03 and a 52 week high of $216.00. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 41.06.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. GoDaddy had a return on equity of 231.34% and a net margin of 17.01%.The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the company earned $1.32 EPS. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. Equities research analysts forecast that GoDaddy will post 6.63 EPS for the current year.

About GoDaddy

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.