GoDaddy (NYSE:GDDY) Price Target Cut to $185.00 by Analysts at Jefferies Financial Group

GoDaddy (NYSE:GDDY) had its target price lowered by Jefferies Financial Group from $200.00 to $185.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a hold rating on the technology company’s stock.

Other research analysts also recently issued research reports about the stock. Raymond James raised their target price on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 21st. Citigroup raised their price objective on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a report on Friday, January 3rd. B. Riley upped their target price on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Benchmark raised their price target on GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Wells Fargo & Company assumed coverage on GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price target on the stock. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $212.20.

GoDaddy Stock Performance

Shares of GoDaddy stock opened at $162.39 on Monday. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The firm has a market cap of $22.95 billion, a price-to-earnings ratio of 25.18 and a beta of 1.19. GoDaddy has a one year low of $119.76 and a one year high of $216.00. The stock’s 50-day moving average is $186.12 and its 200-day moving average is $185.27.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. Equities analysts predict that GoDaddy will post 6.63 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the transaction, the chief executive officer now directly owns 330,153 shares of the company’s stock, valued at $68,572,778.10. This represents a 0.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total transaction of $200,570.00. Following the sale, the chief operating officer now owns 183,632 shares of the company’s stock, valued at $36,831,070.24. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock valued at $3,546,970 in the last quarter. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quent Capital LLC lifted its holdings in shares of GoDaddy by 4.4% during the fourth quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock worth $248,000 after buying an additional 53 shares in the last quarter. Advisors Capital Management LLC increased its position in GoDaddy by 0.9% during the fourth quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company’s stock worth $1,223,000 after acquiring an additional 55 shares during the period. BNP Paribas raised its stake in GoDaddy by 2.9% in the 4th quarter. BNP Paribas now owns 2,111 shares of the technology company’s stock worth $417,000 after purchasing an additional 59 shares in the last quarter. Lake Street Advisors Group LLC boosted its holdings in GoDaddy by 4.7% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock valued at $283,000 after purchasing an additional 64 shares during the period. Finally, New York Life Investment Management LLC grew its position in shares of GoDaddy by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company’s stock worth $3,708,000 after purchasing an additional 71 shares in the last quarter. 90.28% of the stock is 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.