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

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

GDDY has been the topic of several other research reports. Wells Fargo & Company started coverage on shares of GoDaddy in a research note on Monday, February 3rd. They set an “equal weight” rating and a $198.00 target price on the stock. UBS Group upped their price objective on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 target price (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Robert W. Baird upped their price target on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, Benchmark lifted their price objective on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, GoDaddy has an average rating of “Moderate Buy” and an average target price of $213.20.

GoDaddy Price Performance

GoDaddy stock opened at $176.45 on Monday. The company’s fifty day moving average price is $202.67 and its 200 day moving average price is $180.77. GoDaddy has a 1 year low of $108.02 and a 1 year high of $216.00. The stock has a market capitalization of $24.77 billion, a P/E ratio of 27.36 and a beta of 1.15. 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 posted its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. As a group, equities research analysts anticipate that GoDaddy will post 6.69 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $623,100.00. Following the transaction, the chief executive officer now owns 330,153 shares of the company’s stock, valued at approximately $68,572,778.10. This represents a 0.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian Sharples sold 500 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $103,850.00. Following the sale, the director now directly owns 22,621 shares in the company, valued at $4,698,381.70. This represents a 2.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,482 shares of company stock valued at $4,903,930 over the last 90 days. 0.61% of the stock is owned by insiders.

Institutional Trading of GoDaddy

Several hedge funds have recently made changes to their positions in the business. Creative Planning lifted its holdings in GoDaddy by 41.6% during the 3rd quarter. Creative Planning now owns 14,187 shares of the technology company’s stock worth $2,224,000 after buying an additional 4,168 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of GoDaddy by 0.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock valued at $2,837,000 after acquiring an additional 67 shares in the last quarter. V Square Quantitative Management LLC raised its stake in shares of GoDaddy by 37.0% in the third quarter. V Square Quantitative Management LLC now owns 2,093 shares of the technology company’s stock valued at $328,000 after acquiring an additional 565 shares in the last quarter. Blue Trust Inc. raised its position in GoDaddy by 40.0% in the 3rd quarter. Blue Trust Inc. now owns 763 shares of the technology company’s stock valued at $120,000 after purchasing an additional 218 shares in the last quarter. Finally, Resonant Capital Advisors LLC raised its position in GoDaddy by 6.8% in the 3rd quarter. Resonant Capital Advisors LLC now owns 2,560 shares of the technology company’s stock valued at $401,000 after purchasing an additional 164 shares in the last quarter. 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.