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

GoDaddy (NYSE:GDDY) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Other research analysts also recently issued reports about the company. Royal Bank of Canada reduced their price objective on GoDaddy from $230.00 to $225.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Morgan Stanley reduced their price objective on GoDaddy from $228.00 to $206.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Raymond James raised their target price on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 21st. B. Riley raised their target price on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, Jefferies Financial Group cut their target price on GoDaddy from $200.00 to $185.00 and set a “hold” rating for the company in a research note on Monday, April 7th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $214.86.

GoDaddy Trading Up 0.1%

Shares of NYSE:GDDY opened at $187.71 on Tuesday. GoDaddy has a 1 year low of $133.66 and a 1 year high of $216.00. The firm has a market capitalization of $26.75 billion, a price-to-earnings ratio of 29.10 and a beta of 1.13. 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 business’s 50 day moving average price is $177.52 and its 200-day moving average price is $188.38.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.08). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the company posted $2.76 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities research analysts forecast that GoDaddy will post 6.63 earnings per share for the current fiscal year.

Insider Activity at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $190.86, for a total transaction of $572,580.00. Following the transaction, the chief executive officer now owns 440,947 shares of the company’s stock, valued at $84,159,144.42. The trade was a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total value of $171,750.00. Following the transaction, the chief operating officer now directly owns 256,949 shares in the company, valued at approximately $44,130,990.75. This trade represents a 0.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,500 shares of company stock worth $10,244,835 in the last three months. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Proficio Capital Partners LLC purchased a new position in shares of GoDaddy in the 4th quarter valued at approximately $25,554,000. Fiduciary Alliance LLC purchased a new position in shares of GoDaddy in the 4th quarter valued at approximately $1,045,000. Mount Yale Investment Advisors LLC grew its stake in shares of GoDaddy by 205.3% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company’s stock valued at $1,110,000 after purchasing an additional 3,783 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of GoDaddy by 68.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,229 shares of the technology company’s stock valued at $243,000 after purchasing an additional 499 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of GoDaddy by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after purchasing an additional 6,424 shares during the last quarter. 90.28% of the stock is currently 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.