By otakuyassine3@gmail.com 
GoDaddy (NYSE:GDDY – Get Free Report) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.
Several other brokerages have also recently weighed in on GDDY. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Barclays boosted their price objective on shares of GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Jefferies Financial Group boosted their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Citigroup upped their price target on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, Piper Sandler upped their price target on shares of GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and an average target price of $213.20.
Check Out Our Latest Report on GDDY
GoDaddy Stock Down 0.7 %
Shares of NYSE:GDDY opened at $180.93 on Monday. The company has a fifty day moving average of $203.78 and a 200-day moving average of $180.59. The company has a market capitalization of $25.40 billion, a PE ratio of 13.98 and a beta of 1.15. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. GoDaddy has a 52-week low of $108.02 and a 52-week high of $216.00.
GoDaddy (NYSE:GDDY – Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. On average, equities analysts predict that GoDaddy will post 4.96 EPS for the current fiscal year.
Insider Transactions at GoDaddy
In related news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $207.35, for a total value of $207,350.00. Following the sale, the chief operating officer now owns 184,632 shares in the company, valued at $38,283,445.20. This represents a 0.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction dated 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 sale, the director now owns 23,621 shares in the company, valued at $4,671,525.17. This represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,482 shares of company stock valued at $4,709,650 in the last 90 days. 0.61% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On GoDaddy
A number of institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp raised its holdings in shares of GoDaddy by 2.2% in the 3rd quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock worth $1,080,549,000 after acquiring an additional 147,105 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in GoDaddy by 11.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company’s stock valued at $751,778,000 after buying an additional 395,160 shares during the last quarter. Geode Capital Management LLC increased its stake in GoDaddy by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company’s stock valued at $692,245,000 after buying an additional 90,810 shares during the last quarter. WCM Investment Management LLC increased its stake in GoDaddy by 7,083.4% in the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock valued at $678,941,000 after buying an additional 3,356,678 shares during the last quarter. Finally, Invesco Ltd. increased its stake in GoDaddy by 11.6% in the 4th quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company’s stock valued at $575,122,000 after buying an additional 304,033 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.
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.
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