GoDaddy Inc. (NYSE:GDDY – Get Rating) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 3,090,000 shares, an increase of 12.4% from the August 15th total of 2,750,000 shares. Approximately 2.0% of the company's shares are short sold. Based on an average trading volume of 910,400 shares, the short-interest ratio is currently 3.4 days.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Raymond James reduced their target price on GoDaddy from $108.00 to $100.00 and set a "strong-buy" rating on the stock in a report on Thursday, August 4th. Morgan Stanley upped their target price on GoDaddy from $91.00 to $93.00 and gave the stock an "equal weight" rating in a report on Thursday, August 4th. Barclays upped their target price on GoDaddy from $104.00 to $107.00 and gave the stock an "overweight" rating in a report on Thursday, August 4th. Jefferies Financial Group reduced their target price on GoDaddy from $110.00 to $100.00 in a report on Tuesday, May 31st. Finally, Evercore ISI upped their price target on GoDaddy to $91.00 in a research note on Tuesday, August 9th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $100.75.

Insider Activity

In other GoDaddy news, CFO Mark Mccaffrey sold 2,700 shares of the company's stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $73.56, for a total transaction of $198,612.00. Following the completion of the transaction, the chief financial officer now owns 82,250 shares of the company's stock, valued at approximately $6,050,310. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other GoDaddy news, CFO Mark Mccaffrey sold 2,700 shares of the company's stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $73.56, for a total transaction of $198,612.00. Following the completion of the transaction, the chief financial officer now owns 82,250 shares of the company's stock, valued at approximately $6,050,310. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michele Lau sold 7,274 shares of the company's stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $73.88, for a total value of $537,403.12. Following the transaction, the insider now directly owns 63,009 shares of the company's stock, valued at approximately $4,655,104.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,431 shares of company stock valued at $1,613,907. Insiders own 0.37% of the company's stock.

Hedge Funds Weigh In On GoDaddy

GoDaddy Stock Performance

GoDaddy stock opened at $75.43 on Wednesday. The company has a market capitalization of $11.82 billion, a P/E ratio of 36.44 and a beta of 0.93. GoDaddy has a twelve month low of $64.81 and a twelve month high of $88.32. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 46.37. The stock's 50 day moving average is $76.40 and its 200 day moving average is $76.58.

GoDaddy (NYSE:GDDY – Get Rating) last released its quarterly earnings data on Wednesday, August 3rd. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.09. The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.02 billion. GoDaddy had a negative return on equity of 147.44% and a net margin of 8.58%. On average, equities research analysts predict that GoDaddy will post 2.2 earnings per share for the current fiscal year.

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 domain name registration product that enables to engage customers at 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 certificates, and WordPress; Website hosting on virtual private servers and virtual dedicated servers products, which allows customers to select the server configuration suited for their applications, requirements, and growth; managed hosting products to set up, 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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