StockNews.com Downgrades GoDaddy (NYSE:GDDY) to Hold

StockNews.com cut shares of GoDaddy (NYSE:GDDY - Free Report) from a buy rating to a hold rating in a research note released on Monday.

A number of other research firms also recently issued reports on GDDY. Jefferies Financial Group upped their target price on shares of GoDaddy from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Wells Fargo & Company started coverage on shares of GoDaddy in a research report on Monday, February 3rd. They set an "equal weight" rating and a $198.00 target price on the stock. B. Riley upped their target price on shares of GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, February 14th. 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 note on Tuesday, November 19th. Finally, Barclays upped their price target on GoDaddy from $235.00 to $243.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $213.20.

GoDaddy Price Performance

NYSE GDDY traded down $2.75 on Monday, hitting $173.82. 1,461,301 shares of the company were exchanged, compared to its average volume of 1,336,203. The firm has a 50 day moving average of $202.02 and a two-hundred day moving average of $180.74. The company has a market cap of $24.40 billion, a P/E ratio of 26.95 and a beta of 1.15. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. GoDaddy has a 1-year low of $108.38 and a 1-year high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. On average, equities analysts predict that GoDaddy will post 6.63 EPS for the current year.

Insider Activity

In other news, CAO Phontip Palitwanon sold 770 shares of the business's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total value of $151,412.80. Following the completion of the sale, the chief accounting officer now owns 23,059 shares of the company's stock, valued at approximately $4,534,321.76. The trade was a 3.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the completion of the sale, the chief financial officer now directly owns 84,300 shares of the company's stock, valued at approximately $16,776,543. The trade was a 6.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,482 shares of company stock valued at $4,903,930. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On GoDaddy

A number of institutional investors have recently modified their holdings of GDDY. Ashton Thomas Securities LLC bought a new stake in shares of GoDaddy in the third quarter valued at about $27,000. Anchor Investment Management LLC acquired a new position in GoDaddy in the third quarter valued at about $31,000. Versant Capital Management Inc acquired a new position in GoDaddy in the fourth quarter valued at about $43,000. Rakuten Securities Inc. raised its stake in GoDaddy by 311.3% in the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock valued at $43,000 after purchasing an additional 165 shares in the last quarter. Finally, Huntington National Bank raised its stake in GoDaddy by 298.7% in the third quarter. Huntington National Bank now owns 307 shares of the technology company's stock valued at $48,000 after purchasing an additional 230 shares in the last quarter. Institutional investors 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.