GoDaddy (NYSE:GDDY) Cut to Hold at StockNews.com

StockNews.com downgraded shares of GoDaddy (NYSE:GDDY) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

A number of other brokerages have also weighed in on GDDY. Royal Bank of Canada reiterated an “outperform” rating and set a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Barclays lifted their price target on shares of GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Robert W. Baird lifted their price target on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. lifted their target price on GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, Piper Sandler increased their price target on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and an average price target of $213.20.

GoDaddy Stock Down 2.6 %

Shares of NYSE GDDY opened at $176.45 on Monday. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The company has a market cap of $24.77 billion, a P/E ratio of 27.36 and a beta of 1.15. GoDaddy has a 1 year low of $108.02 and a 1 year high of $216.00. The firm has a 50-day simple moving average of $202.67 and a two-hundred day simple moving average of $180.77.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. Research analysts anticipate that GoDaddy will post 6.69 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Phontip Palitwanon sold 770 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total value of $151,412.80. Following the transaction, the chief accounting officer now owns 23,059 shares in the company, valued at approximately $4,534,321.76. This represents a 3.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $197.77, for a total transaction of $98,885.00. Following the completion of the transaction, the director now owns 23,621 shares in the company, valued at approximately $4,671,525.17. This trade represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,482 shares of company stock worth $4,903,930 in the last 90 days. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of GoDaddy

A number of hedge funds and other institutional investors have recently made changes to their positions in GDDY. Ashton Thomas Securities LLC acquired a new stake in GoDaddy during the 3rd quarter worth about $27,000. Anchor Investment Management LLC acquired a new stake in GoDaddy during the third quarter worth about $31,000. Versant Capital Management Inc acquired a new stake in GoDaddy during the fourth quarter worth about $43,000. Rakuten Securities Inc. grew its holdings in GoDaddy by 311.3% during the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after acquiring an additional 165 shares during the period. Finally, Huntington National Bank grew its stake in shares of GoDaddy by 298.7% during the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after purchasing an additional 230 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Company Profile

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.