GoDaddy (NYSE:GDDY) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of GoDaddy (NYSE:GDDY) from a strong-buy rating to a buy rating in a report released on Friday morning.

A number of other brokerages have also recently weighed in on GDDY. B. Riley raised their target price on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Raymond James raised their target price on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Royal Bank of Canada upped their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Benchmark upped their price target on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Barclays upped their price target on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Five 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.com, the company has a consensus rating of “Moderate Buy” and an average target price of $171.38.

GoDaddy Trading Up 0.3 %

GoDaddy stock opened at $177.84 on Friday. The firm has a 50 day simple moving average of $159.96 and a 200-day simple moving average of $149.24. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $24.97 billion, a PE ratio of 13.74 and a beta of 1.11. GoDaddy has a 12-month low of $86.11 and a 12-month high of $178.28.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.89 earnings per share. As a group, equities research analysts expect that GoDaddy will post 4.95 EPS for the current fiscal year.

Insider Activity

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $167.79, for a total transaction of $503,370.00. Following the transaction, the chief executive officer now owns 345,956 shares in the company, valued at approximately $58,047,957.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total value of $906,125.00. Following the transaction, the chief financial officer now directly owns 101,286 shares in the company, valued at approximately $16,686,868.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $167.79, for a total transaction of $503,370.00. Following the completion of the sale, the chief executive officer now owns 345,956 shares in the company, valued at $58,047,957.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,344 shares of company stock worth $4,529,897. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of GoDaddy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new stake in GoDaddy in the 3rd quarter worth $27,000. Transcendent Capital Group LLC acquired a new stake in GoDaddy in the 2nd quarter worth $28,000. ORG Wealth Partners LLC acquired a new stake in GoDaddy in the 3rd quarter worth $30,000. ORG Partners LLC acquired a new stake in GoDaddy in the 2nd quarter worth $32,000. Finally, International Assets Investment Management LLC acquired a new stake in GoDaddy in the 2nd quarter worth $36,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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.