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As of September 18, 2023, GoDaddy Inc. (NYSE:GDDY) has received a “Moderate Buy” consensus rating from eleven ratings firms that cover the company, according to Bloomberg.com. Among these firms, three research analysts have given a hold recommendation, seven recommend buying the stock, and one has issued a strong buy recommendation. The average price objective for the next twelve months among brokers who have recently updated their coverage on GoDaddy is $92.45.
In recent news, CEO Amanpal Singh Bhutani sold 2,016 shares of GoDaddy’s stock on July 5th at an average price of $74.93, resulting in a total transaction value of $151,058.88. Following this sale, Bhutani now holds 273,125 shares in the company, valued at approximately $20,465,256.25. Details of this transaction can be found in a legal filing with the Securities & Exchange Commission (SEC), available through a hyperlink provided.
Similarly, Chief Accounting Officer Nick Daddario also sold 342 shares of GoDaddy’s stock on September 5th at an average price of $73.57, amounting to a total value of $25,160.94. After the transaction, Daddario now directly owns 19,689 shares of the company’s stock worth around $1,448,519.73. This sale was disclosed in a filing with the SEC.
Furthermore, CEO Amanpal Singh Bhutani carried out another transaction on July 5th where he sold 2,016 shares at an average price of $74.93 for a total value of $1510 and possesses 273125 shares in total valuing up to twenty million dollars roughly ($20 million). More details regarding this sale can be accessed through the disclosure available here.
Over the last three months, insiders at GoDaddy have sold 44,419 shares of the company’s stock with a total value of $3,290,478. Insiders currently own 0.54% of the company’s stock.
GoDaddy released its quarterly earnings data on August 3rd and reported an EPS (earnings per share) of $0.63 for the quarter, surpassing the estimated consensus of $0.55 by $0.08. The company had a negative return on equity of 83.74%, and a net margin of 7.78%. GoDaddy generated $1.05 billion in revenue during the quarter, aligning with analyst estimates.
Equity analysts anticipate that GoDaddy will achieve earnings per share of 2.81 for this year.
For further insights and analysis on GoDaddy, please refer to our latest research report on the company’s performance.
In summary, GoDaddy Inc. has received a “Moderate Buy” rating from consensus ratings firms and various analysts provide recommendations ranging from hold to strong buy for its stock. CEO Amanpal Singh Bhutani and CAO Nick Daddario have recently made significant stock sales in separate transactions, as disclosed in filings with the SEC. Despite this insider activity, GoDaddy has reported better-than-expected quarterly earnings results and is forecasted to achieve positive earnings per share for this year.

Analyst Reports Evaluate GoDaddy’s Stock Performance and Potential Outlook for Investors

Debt to equity ratio: Strong Sell
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Sell
DCF: Strong Buy
ROE: Sell
Current $75.25
Concensus $97.54
Low $80.00
Median $100.00
High $114.00

September 18, 2023 – GoDaddy (NYSE: GDDY), a leading technology company in the domain name and web hosting business, has recently been evaluated by several analysts. These reports shed light on the stock’s performance as well as its potential outlook for investors.
Piper Sandler, an investment bank and institutional securities firm, recently reiterated a “neutral” rating on GoDaddy shares. They have set a price objective of $84.00 for the stock. This suggests that Piper Sandler believes the stock’s value will remain relatively stable in the near future.
On the other hand, StockNews.com upgraded their rating on GoDaddy from a “hold” to a “buy.” This indicates that they’ve become more optimistic about the company’s prospects. Their report was published on September 5th, providing investors with updated information to consider.
Royal Bank of Canada (RBC) initiated coverage on GoDaddy back in June 2023. RBC assigned a “sector perform” rating to the stock and set a target price of $80.00. While this doesn’t indicate excessive confidence in the company’s future performance, it also doesn’t suggest significant concerns.
Contrarily, B. Riley, an investment banking and brokerage firm, raised their target price on GoDaddy from $102.00 to $107.00 in a research note dated September 13th. Notably, they also gave the stock a “buy” rating. This suggests that B. Riley expects GoDaddy shares to outperform in the market.
Barclays took a slightly different stance by reducing their target price for GoDaddy from $98.00 to $95.00 while maintaining an “overweight” rating for the stock in their research note on August 4th.
In terms of ownership and investments, numerous hedge funds and institutional investors have taken interest in GoDaddy recently. Morgan Stanley, for instance, increased their stake in the company by an astounding 517.4% in the fourth quarter of last year. Similarly, BlackRock Inc. lifted its stake in GoDaddy by 23.6% during the second quarter.
Starboard Value LP also demonstrated confidence in the tech firm by raising their stake by 23.9%. Additionally, Norges Bank and Pacer Advisors Inc. have made substantial investments in GoDaddy, reflecting their belief in its long-term potential.
As of now, GoDaddy’s stock opened at $75.78 on September 18th and has shown relatively stable performance with a fifty-day moving average of $73.64 and a two-hundred-day moving average of $73.94.
The company currently holds a market capitalization of $11.15 billion and has a price-to-earnings (P/E) ratio of 36.61 with a beta factor of 0.95, suggesting moderate volatility compared to the broader market.
Over the past twelve months, GoDaddy’s stock has experienced fluctuations between a low of $64.65 and a high of $85.32, indicating potential room for growth within this range.
Investors should carefully consider these analyst reports alongside their own investment strategies before making any decisions regarding GoDaddy shares.
Disclaimer: This article does not constitute financial advice or recommendations for trading stocks and is solely based on publicly available information as of September 18, 2023
Over the last nine years, Elaine has managed investment portfolio using fundamental analysis and value investing, emphasizing long-term time horizons.
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