GoDaddy (NYSE:GDDY) Downgraded by StockNews.com to Buy

GoDaddy (NYSE:GDDY - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a note issued to investors on Friday.

GDDY has been the topic of several other reports. 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 research note on Thursday, October 31st. B. Riley increased their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Raymond James boosted their target price on GoDaddy from $150.00 to $175.00 and gave the stock a "strong-buy" rating in a research report on Friday, August 2nd. Royal Bank of Canada upped their target price on GoDaddy from $175.00 to $190.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Finally, Robert W. Baird lifted their price target on GoDaddy from $190.00 to $200.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Five equities research 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $171.38.

GoDaddy Stock Performance

Shares of NYSE:GDDY traded up $0.51 during trading on Friday, hitting $177.82. 852,941 shares of the company were exchanged, compared to its average volume of 1,462,763. GoDaddy has a 52-week low of $86.11 and a 52-week high of $178.28. The stock has a 50 day moving average of $159.96 and a 200 day moving average of $148.88. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $25.07 billion, a PE ratio of 13.74 and a beta of 1.11.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 EPS. As a group, equities research analysts predict that GoDaddy will post 4.95 EPS for the current year.

Insider Activity

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $167.79, for a total value of $503,370.00. Following the transaction, the chief executive officer now owns 345,956 shares in the company, valued at approximately $58,047,957.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the sale, the chief financial officer now directly owns 101,286 shares in the company, valued at $16,686,868.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $167.79, for a total transaction of $503,370.00. Following the completion of the sale, the chief executive officer now directly owns 345,956 shares of the company's stock, valued at approximately $58,047,957.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,344 shares of company stock worth $4,529,897. Insiders own 0.61% of the company's stock.

Institutional Trading of GoDaddy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GDDY. Ashton Thomas Securities LLC purchased a new stake in GoDaddy in the 3rd quarter worth approximately $27,000. ORG Wealth Partners LLC purchased a new stake in shares of GoDaddy in the third quarter worth $30,000. Transcendent Capital Group LLC bought a new stake in shares of GoDaddy during the 2nd quarter valued at $28,000. ORG Partners LLC purchased a new position in shares of GoDaddy during the 2nd quarter valued at $32,000. Finally, International Assets Investment Management LLC bought a new position in GoDaddy in the 2nd quarter worth $36,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

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.