GoDaddy (NYSE:GDDY) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of GoDaddy (NYSE:GDDY) from a strong-buy rating to a buy rating in a report published on Monday morning.

A number of other research firms also recently commented on GDDY. UBS Group raised their price objective on GoDaddy from $118.00 to $130.00 and gave the stock a neutral rating in a report on Friday, May 3rd. Barclays boosted their price objective on shares of GoDaddy from $130.00 to $150.00 and gave the stock an overweight rating in a research note on Friday, May 3rd. Evercore ISI raised their target price on shares of GoDaddy from $110.00 to $135.00 and gave the company an in-line rating in a research note on Friday, May 3rd. Benchmark reaffirmed a buy rating and set a $150.00 price target on shares of GoDaddy in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada raised their price objective on GoDaddy from $124.00 to $145.00 and gave the company an outperform rating in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $152.25.

GoDaddy Trading Up 0.0 %

GoDaddy stock opened at $143.27 on Monday. The stock has a market cap of $20.44 billion, a PE ratio of 11.90 and a beta of 1.14. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 9.15. The stock has a 50-day moving average price of $140.99 and a 200 day moving average price of $125.32. GoDaddy has a 52 week low of $69.18 and a 52 week high of $148.71.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.08. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. Equities research analysts predict that GoDaddy will post 4.81 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Leah Sweet sold 1,000 shares of GoDaddy stock in a transaction on Monday, June 10th. The shares were sold at an average price of $141.59, for a total value of $141,590.00. Following the completion of the sale, the director now owns 11,317 shares in the company, valued at $1,602,374.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other GoDaddy news, COO Roger Chen sold 4,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total transaction of $490,400.00. Following the transaction, the chief operating officer now owns 200,632 shares of the company’s stock, valued at approximately $24,597,483.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Leah Sweet sold 1,000 shares of GoDaddy stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $141.59, for a total value of $141,590.00. Following the completion of the transaction, the director now owns 11,317 shares of the company’s stock, valued at approximately $1,602,374.03. The disclosure for this sale can be found here. In the last three months, insiders sold 50,071 shares of company stock worth $6,875,606. 0.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GoDaddy

Large investors have recently added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new stake in shares of GoDaddy during the second quarter worth $28,000. ORG Partners LLC acquired a new stake in GoDaddy during the second quarter worth about $32,000. V Square Quantitative Management LLC bought a new position in GoDaddy in the fourth quarter worth about $28,000. GAMMA Investing LLC boosted its stake in GoDaddy by 102.3% in the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after acquiring an additional 133 shares during the period. Finally, Frazier Financial Advisors LLC bought a new position in shares of GoDaddy during the fourth quarter valued at approximately $33,000. 90.28% of the stock is currently owned by 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.