GoDaddy (NYSE:GDDY) Gets Maintaining Rating From Raymond James

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GoDaddy (NYSE:GDDY- Get a rating)The stock had its “hold” rating reaffirmed by Raymond James in a note released Thursday to investors, Benzinga reports.

A number of other analysts have also recently weighed in on the stock. The benchmark raised its price target on GoDaddy shares from $102.00 to $106.00 and gave the stock a “buy” rating in a Thursday, May 5, report. Morgan Stanley lowered its price target on GoDaddy shares from $95.00 to $91.00 and set an “equal weight” rating for the company in a Thursday, July 14 research note. Piper Sandler moved GoDaddy shares from a “neutral” rating to an “overweight” rating and raised her price target for the company from $94.00 to $110.00 in a Monday 25 research note. april. Barclays raised its price target on GoDaddy shares from $104.00 to $107.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Jefferies Financial Group lowered its price target on GoDaddy shares from $110.00 to $100.00 in a Tuesday, May 31 research note. Two research analysts gave the stock a hold rating and seven gave the stock a buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.30.

GoDaddy Stock Performance

GoDaddy shares opened at $75.57 on Thursday. The company has a 50-day moving average of $71.44 and a 200-day moving average of $76.58. GoDaddy has a 1-year minimum of $64.81 and a 1-year maximum of $88.32. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt ratio of 46.37. The company has a market capitalization of $12.25 billion, a PE ratio of 42.46 and a beta of 0.95.

GoDaddy (NYSE:GDDY- Get a rating) last released its quarterly results on Wednesday, May 4. The tech company reported earnings per share of $0.41 for the quarter, missing analyst consensus estimates of $0.42 per ($0.01). GoDaddy had a negative return on equity of 231.58% and a net margin of 7.66%. The company posted revenue of $1 billion for the quarter, versus a consensus estimate of $989.20 million. During the same period last year, the company posted EPS of $0.06. The company’s revenue increased 11.3% year over year. As a group, equity research analysts expect GoDaddy to post earnings per share of 2.07 for the current fiscal year.

Insider activity

In other news, CFO Marc McCaffrey sold 9,776 shares of the company in a trade on Tuesday, July 5. The shares were sold at an average price of $69.86, for a total transaction of $682,951.36. Following the completion of the transaction, the CFO now owns 84,950 shares of the company, valued at $5,934,607. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. In other news, CEO Amanpal Singh Bhutan sold 1,991 shares in a trade on Tuesday, July 5. The shares were sold at an average price of $69.86, for a total transaction of $139,091.26. Following the completion of the sale, the CEO now directly owns 220,544 shares of the company, valued at $15,407,203.84. The transaction was disclosed in an SEC filing, available at this link. Also, CFO Marc McCaffrey sold 9,776 shares in a trade on Tuesday, July 5. The stock was sold at an average price of $69.86, for a total transaction of $682,951.36. Following the sale, the CFO now owns 84,950 shares of the company, valued at $5,934,607. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 13,352 shares of the company valued at $938,855. Insiders own 0.37% of the shares of the company.

Institutional investors weigh in on GoDaddy

Major investors have recently been buying and selling stocks. CAPROCK Group Inc. increased its holdings of GoDaddy shares by 4.9% in the first quarter. CAPROCK Group Inc. now owns 3,686 shares of the technology company valued at $309,000 after buying 172 additional shares in the last quarter. Quadrant Capital Group LLC increased its holdings of GoDaddy shares by 23.3% in the first quarter. Quadrant Capital Group LLC now owns 947 shares of the technology company valued at $79,000 after buying 179 additional shares in the last quarter. Wetherby Asset Management Inc. raised its position in GoDaddy shares by 3.3% during the fourth quarter. Wetherby Asset Management Inc. now owns 6,232 shares of the technology company valued at $529,000 after buying 202 more shares last quarter. Tobam ​​increased its position in GoDaddy shares by 31.7% during the first quarter. Tobam ​​now owns 872 shares of the tech company valued at $73,000 after buying an additional 210 shares in the last quarter. Finally, Raymond James Trust NA increased its position in GoDaddy shares by 6.8% during the second quarter. Raymond James Trust NA now owns 3,430 shares of the technology company valued at $238,000 after buying 218 additional shares last quarter. 98.38% of the shares are currently held by institutional investors and hedge funds.

GoDaddy Company Profile

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GoDaddy Inc engages in the design and development of cloud-based technology products in the United States and internationally. The Company provides a domain name registration product that engages customers in the initial stage of establishing a digital identity. It also offers shared website hosting products that provide various applications and products, such as web analytics, Secure Sockets Layer and WordPress certificates; Hosting websites on virtual private servers and dedicated virtual server products, which allow customers to select the right server configuration for their applications, needs and growth; managed hosting products to configure, monitor, maintain, secure and patch software and servers for customers; and security products, a suite of tools designed to help secure customers’ online presence.

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Analyst Recommendations for GoDaddy (NYSE: GDDY)

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