GoDaddy (NYSE:GDDY) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of GoDaddy (NYSE:GDDY) from a buy rating to a hold rating in a report published on Tuesday morning.

Other equities research analysts have also recently issued research reports about the company. Raymond James upped their price target on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. Jefferies Financial Group lowered their target price on GoDaddy from $200.00 to $185.00 and set a “hold” rating on the stock in a report on Monday, April 7th. Wells Fargo & Company started coverage on GoDaddy in a research note on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price target for the company. Piper Sandler raised their target price on shares of GoDaddy from $177.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Finally, Royal Bank of Canada lowered their price target on shares of GoDaddy from $230.00 to $225.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $214.86.

GoDaddy Trading Up 0.3%

NYSE:GDDY opened at $187.51 on Tuesday. The stock has a market capitalization of $26.72 billion, a price-to-earnings ratio of 29.07 and a beta of 1.13. GoDaddy has a 1 year low of $131.84 and a 1 year high of $216.00. The stock has a fifty day moving average price of $177.21 and a two-hundred day moving average price of $188.39. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.08). The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business earned $2.76 EPS. As a group, sell-side analysts anticipate that GoDaddy will post 6.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other GoDaddy news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $194.28, for a total transaction of $194,280.00. Following the transaction, the chief operating officer now directly owns 182,632 shares of the company’s stock, valued at $35,481,744.96. The trade was a 0.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total transaction of $541,980.00. Following the transaction, the chief executive officer now owns 505,649 shares in the company, valued at $91,350,548.34. The trade was a 0.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,500 shares of company stock worth $10,244,835. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Cornerstone Planning Group LLC raised its position in shares of GoDaddy by 123.4% in the 1st quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. Park Square Financial Group LLC bought a new stake in shares of GoDaddy in the first quarter worth $27,000. Private Trust Co. NA increased its stake in shares of GoDaddy by 591.3% in the first quarter. Private Trust Co. NA now owns 159 shares of the technology company’s stock worth $29,000 after buying an additional 136 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in GoDaddy in the first quarter valued at $30,000. Finally, Rakuten Securities Inc. boosted its stake in GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock valued at $43,000 after acquiring an additional 165 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

About GoDaddy

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.