GoDaddy (NYSE:GDDY) Shares Down 0.6% - What's Next?

GoDaddy Inc. (NYSE:GDDY - Get Free Report)'s share price was down 0.6% on Friday . The stock traded as low as $206.04 and last traded at $207.34. Approximately 158,988 shares traded hands during trading, a decline of 89% from the average daily volume of 1,459,611 shares. The stock had previously closed at $208.54.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Jefferies Financial Group raised their price objective on GoDaddy from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. Piper Sandler increased their target price on shares of GoDaddy from $172.00 to $176.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price target on shares of GoDaddy from $175.00 to $224.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $230.00 price objective (up from $190.00) on shares of GoDaddy in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $181.57.

GoDaddy Trading Down 0.8 %

The stock has a market capitalization of $29.04 billion, a price-to-earnings ratio of 16.02 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. The company has a 50 day moving average of $174.49 and a 200 day moving average of $157.48.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the company posted $0.89 EPS. The company's quarterly revenue was up 7.3% on a year-over-year basis. On average, research analysts predict that GoDaddy Inc. will post 4.98 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other news, CAO Nick Daddario sold 2,976 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.61, for a total value of $451,191.36. Following the transaction, the chief accounting officer now directly owns 14,728 shares in the company, valued at $2,232,912.08. This trade represents a 16.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brian Sharples sold 500 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $179.00, for a total value of $89,500.00. Following the completion of the sale, the director now directly owns 24,121 shares of the company's stock, valued at $4,317,659. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,925 shares of company stock worth $4,237,184 over the last 90 days. Corporate insiders own 0.61% of the company's stock.

Institutional Trading of GoDaddy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ashton Thomas Securities LLC bought a new stake in shares of GoDaddy in the 3rd quarter worth about $27,000. Transcendent Capital Group LLC bought a new stake in GoDaddy in the second quarter valued at about $28,000. ORG Wealth Partners LLC acquired a new stake in GoDaddy during the third quarter valued at approximately $30,000. Anchor Investment Management LLC acquired a new stake in GoDaddy during the third quarter valued at approximately $31,000. Finally, ORG Partners LLC acquired a new position in shares of GoDaddy in the 2nd quarter worth approximately $32,000. Institutional investors 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.

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