GoDaddy (NYSE:GDDY) PT Lowered to $100.00

GoDaddy (NYSE:GDDYGet Rating) had its target price dropped by analysts at Raymond James from $108.00 to $100.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “strong-buy” rating on the technology company’s stock. Raymond James’ target price would indicate a potential upside of 26.69% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. Piper Sandler upgraded shares of GoDaddy from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $94.00 to $110.00 in a research note on Monday, April 25th. Morgan Stanley lifted their target price on shares of GoDaddy from $91.00 to $93.00 and gave the company an “equal weight” rating in a research note on Thursday. Benchmark lifted their target price on shares of GoDaddy from $102.00 to $106.00 and gave the company a “buy” rating in a research note on Thursday, May 5th. Barclays lifted their target price on shares of GoDaddy from $104.00 to $107.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Jefferies Financial Group lowered their target price on shares of GoDaddy from $110.00 to $100.00 in a research note on Tuesday, May 31st. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $102.14.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $78.93 on Thursday. The company has a market capitalization of $12.79 billion, a price-to-earnings ratio of 38.13 and a beta of 0.95. The company has a debt-to-equity ratio of 46.37, a quick ratio of 0.58 and a current ratio of 0.58. The company has a 50 day simple moving average of $71.60 and a two-hundred day simple moving average of $76.61. GoDaddy has a fifty-two week low of $64.81 and a fifty-two week high of $88.32.

GoDaddy (NYSE:GDDYGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The technology company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $989.20 million. GoDaddy had a negative return on equity of 211.78% and a net margin of 8.58%. The company’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 EPS. Analysts expect that GoDaddy will post 2.16 EPS for the current fiscal year.

Insider Transactions at GoDaddy

In related news, insider Michele Lau sold 7,274 shares of GoDaddy stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $73.88, for a total transaction of $537,403.12. Following the completion of the transaction, the insider now directly owns 63,009 shares of the company’s stock, valued at approximately $4,655,104.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Michele Lau sold 7,274 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $73.88, for a total value of $537,403.12. Following the completion of the sale, the insider now owns 63,009 shares of the company’s stock, valued at approximately $4,655,104.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Mccaffrey sold 9,776 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $69.86, for a total transaction of $682,951.36. Following the transaction, the chief financial officer now owns 84,950 shares of the company’s stock, valued at approximately $5,934,607. The disclosure for this sale can be found here. Insiders have sold a total of 20,716 shares of company stock worth $1,482,907 in the last three months. Insiders own 0.37% 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 business. M&T Bank Corp increased its stake in shares of GoDaddy by 36.5% in the second quarter. M&T Bank Corp now owns 22,999 shares of the technology company’s stock worth $1,599,000 after acquiring an additional 6,153 shares during the period. Bank of Nova Scotia boosted its holdings in GoDaddy by 10,857.0% during the second quarter. Bank of Nova Scotia now owns 391,604 shares of the technology company’s stock worth $27,240,000 after buying an additional 388,030 shares in the last quarter. Cadent Capital Advisors LLC purchased a new position in GoDaddy during the second quarter valued at $216,000. Illinois Municipal Retirement Fund lifted its holdings in GoDaddy by 63.1% during the second quarter. Illinois Municipal Retirement Fund now owns 22,057 shares of the technology company’s stock valued at $1,534,000 after purchasing an additional 8,532 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in GoDaddy by 12,887.2% during the second quarter. Loomis Sayles & Co. L P now owns 5,065 shares of the technology company’s stock valued at $352,000 after purchasing an additional 5,026 shares in the last quarter. Institutional investors and hedge funds own 98.38% of the company’s stock.

About GoDaddy

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GoDaddy Inc engages in the design and development of cloud-based technology products in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity. It also offers shared Website hosting products that provide various applications and products, such as web analytics, Secure Sockets Layer certificates, and WordPress; Website hosting on virtual private servers and virtual dedicated servers products, which allows customers to select the server configuration suited for their applications, requirements, and growth; managed hosting products to set up, monitor, maintain, secure, and patch software and servers for customers; and security products, a suite of tools designed to help secure customers' online presence.

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