GoDaddy (NYSE:GDDY) Cut to Buy at StockNews.com

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

A number of other equities research analysts also recently commented on the company. Piper Sandler lifted their target price on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Royal Bank of Canada upped their target price 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. Raymond James increased their target price on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Barclays boosted their price target on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Finally, Robert W. Baird increased their price objective on shares of GoDaddy from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $171.38.

GoDaddy Stock Performance

Shares of NYSE:GDDY opened at $183.13 on Friday. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. GoDaddy has a 1 year low of $87.16 and a 1 year high of $184.38. The firm has a market capitalization of $25.71 billion, a PE ratio of 14.18 and a beta of 1.11. The business’s 50 day moving average price is $159.96 and its 200-day moving average price is $149.24.

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

Insider Transactions at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $152.17, for a total value of $152,170.00. Following the completion of the sale, the chief operating officer now owns 187,632 shares in the company, valued at approximately $28,551,961.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $152.17, for a total transaction of $152,170.00. Following the sale, the chief operating officer now owns 187,632 shares of the company’s stock, valued at approximately $28,551,961.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total transaction of $906,125.00. Following the completion of the transaction, the chief financial officer now directly owns 101,286 shares of the company’s stock, valued at approximately $16,686,868.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,344 shares of company stock worth $4,529,897 over the last 90 days. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in GoDaddy by 0.4% in the 3rd 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 purchasing an additional 67 shares in the last quarter. Prime Capital Investment Advisors LLC raised its position in shares of GoDaddy by 4.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock valued at $296,000 after buying an additional 73 shares during the last quarter. Whittier Trust Co. lifted its stake in shares of GoDaddy by 4.3% during the second quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock valued at $249,000 after buying an additional 74 shares during the period. Lindbrook Capital LLC boosted its position in GoDaddy by 11.3% during the third quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock worth $153,000 after acquiring an additional 99 shares during the last quarter. Finally, Equitable Trust Co. grew its stake in GoDaddy by 1.3% in the 3rd quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock worth $1,322,000 after acquiring an additional 107 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.