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

StockNews.com lowered shares of GoDaddy (NYSE:GDDY) from a strong-buy rating to a buy rating in a research report report published on Wednesday.

Other equities analysts have also issued research reports about the company. UBS Group increased their target price on GoDaddy from $118.00 to $130.00 and gave the company a neutral rating in a report on Friday, May 3rd. Royal Bank of Canada increased their price objective on GoDaddy from $145.00 to $175.00 and gave the company an outperform rating in a report on Monday, August 5th. William Blair reissued an outperform rating on shares of GoDaddy in a research report on Friday, May 3rd. Robert W. Baird upped their price target on GoDaddy from $175.00 to $190.00 and gave the company an outperform rating in a report on Friday, August 2nd. Finally, Citigroup increased their price target on shares of GoDaddy from $150.00 to $165.00 and gave the company a buy rating in a research note on Friday, May 31st. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $161.25.

GoDaddy Stock Up 0.4 %

Shares of NYSE:GDDY opened at $157.53 on Wednesday. The firm’s 50-day moving average is $143.17 and its two-hundred day moving average is $128.62. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.55. GoDaddy has a 1 year low of $69.18 and a 1 year high of $158.09. The firm has a market capitalization of $22.48 billion, a PE ratio of 13.08 and a beta of 1.14.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.06). The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. GoDaddy had a negative return on equity of 363.95% and a net margin of 41.12%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 EPS. Analysts predict that GoDaddy will post 4.81 EPS for the current year.

Insider Buying and Selling

In other news, CAO Nick Daddario sold 523 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total transaction of $72,221.07. Following the transaction, the chief accounting officer now directly owns 22,666 shares of the company’s stock, valued at approximately $3,129,947.94. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Leah Sweet sold 1,000 shares of GoDaddy stock in a transaction on Monday, June 10th. The stock was sold at an average price of $141.59, for a total transaction of $141,590.00. Following the completion of the transaction, the director now directly owns 11,317 shares of the company’s stock, valued at $1,602,374.03. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Nick Daddario sold 523 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total value of $72,221.07. Following the completion of the sale, the chief accounting officer now directly owns 22,666 shares in the company, valued at approximately $3,129,947.94. The disclosure for this sale can be found here. Insiders have sold 53,071 shares of company stock valued at $7,410,566 over the last quarter. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Transcendent Capital Group LLC purchased a new position in GoDaddy in the 2nd quarter valued at about $28,000. ORG Partners LLC purchased a new position in shares of GoDaddy during the second quarter valued at approximately $32,000. V Square Quantitative Management LLC acquired a new stake in GoDaddy during the fourth quarter worth approximately $28,000. International Assets Investment Management LLC purchased a new stake in GoDaddy in the 2nd quarter worth approximately $36,000. Finally, GAMMA Investing LLC grew its stake in GoDaddy by 102.3% in the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after acquiring an additional 133 shares during the period. 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.