Key Points
- GoDaddy director Sigal Zarmi sold 350 shares on June 1 at an average price of $87.84, for a total of $30,744. The sale was made under a pre-arranged Rule 10b5-1 trading plan, leaving her with 5,708 shares.
- GoDaddy recently reported solid quarterly results, posting EPS of $1.60 versus estimates of $1.53 and revenue of $1.27 billion, up 6.1% year over year. The company also noted strong profitability with a net margin of 17.32%.
- Wall Street remains cautiously positive on GDDY, with a consensus rating of “Moderate Buy” and an average price target of $120.57. However, analysts have recently trimmed some targets, reflecting mixed sentiment on the stock.
GoDaddy Inc. (NYSE:GDDY - Get Free Report) Director Sigal Zarmi sold 350 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $87.84, for a total value of $30,744.00. Following the completion of the transaction, the director owned 5,708 shares in the company, valued at approximately $501,390.72. The trade was a 5.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
GoDaddy Trading Down 5.0%
GDDY opened at $84.11 on Thursday. GoDaddy Inc. has a one year low of $73.06 and a one year high of $183.34. The company has a market cap of $11.14 billion, a P/E ratio of 13.31, a PEG ratio of 0.80 and a beta of 0.90. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67. The business's 50-day simple moving average is $85.54 and its 200-day simple moving average is $100.02.
GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, beating analysts' consensus estimates of $1.53 by $0.07. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the business posted $1.51 EPS. The business's revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts expect that GoDaddy Inc. will post 7.17 EPS for the current fiscal year.
Institutional Investors Weigh In On GoDaddy
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its stake in GoDaddy by 130.5% in the third quarter. American Century Companies Inc. now owns 151,432 shares of the technology company's stock valued at $20,720,000 after buying an additional 85,733 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of GoDaddy in the 3rd quarter valued at approximately $30,575,000. BNP Paribas Financial Markets grew its stake in shares of GoDaddy by 5.7% in the 4th quarter. BNP Paribas Financial Markets now owns 945,202 shares of the technology company's stock valued at $117,281,000 after purchasing an additional 50,959 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of GoDaddy by 22,341.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 117,142 shares of the technology company's stock valued at $14,535,000 after purchasing an additional 116,620 shares during the last quarter. Finally, Swedbank AB grew its stake in shares of GoDaddy by 433.9% in the 4th quarter. Swedbank AB now owns 645,754 shares of the technology company's stock valued at $80,125,000 after purchasing an additional 524,811 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on GDDY shares. Cantor Fitzgerald dropped their price objective on GoDaddy from $130.00 to $90.00 and set a "neutral" rating on the stock in a report on Wednesday, February 25th. Wells Fargo & Company raised their price target on GoDaddy from $77.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Friday, May 1st. Piper Sandler initiated coverage on GoDaddy in a research note on Thursday, March 12th. They set a "neutral" rating and a $93.00 price target on the stock. Barclays reduced their price objective on GoDaddy from $200.00 to $118.00 and set an "overweight" rating for the company in a research note on Thursday, February 26th. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $100.00 price objective on shares of GoDaddy in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $120.57.
View Our Latest Report on GoDaddy
GoDaddy Company Profile
(
Get Free Report)
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.
Further Reading
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