GoDaddy (NYSE:GDDY) Lowered to “Hold” Rating by StockNews.com

GoDaddy (NYSE:GDDY) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

A number of other research analysts have also commented on GDDY. Royal Bank of Canada restated an “outperform” rating and set a $230.00 price target (up from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Wells Fargo & Company initiated coverage on shares of GoDaddy in a report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price objective for the company. Morgan Stanley upped their target price on GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Friday. Robert W. Baird upped their price target on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, UBS Group raised their target price on shares of GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $213.20.

GoDaddy Stock Performance

Shares of GDDY stock traded down $29.96 during trading on Monday, reaching $182.58. 4,395,394 shares of the company’s stock traded hands, compared to its average volume of 1,094,305. The firm’s 50-day moving average is $203.78 and its 200 day moving average is $180.59. The company has a market capitalization of $25.63 billion, a P/E ratio of 14.11 and a beta of 1.15. GoDaddy has a 1 year low of $108.02 and a 1 year high of $216.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. Equities research analysts expect that GoDaddy will post 4.96 EPS for the current year.

Insider Activity

In related news, CAO Phontip Palitwanon sold 770 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total value of $151,412.80. Following the sale, the chief accounting officer now owns 23,059 shares in the company, valued at $4,534,321.76. This represents a 3.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on 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 owns 330,153 shares of the company’s stock, valued at $68,572,778.10. The trade was a 0.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,482 shares of company stock worth $4,709,650. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in GoDaddy in the 3rd quarter worth about $27,000. Anchor Investment Management LLC purchased a new stake in GoDaddy during the third quarter valued at approximately $31,000. Versant Capital Management Inc purchased a new stake in shares of GoDaddy in the 4th quarter worth $43,000. Rakuten Securities Inc. increased its position in GoDaddy by 311.3% in the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after buying an additional 165 shares in the last quarter. Finally, Huntington National Bank increased its holdings in GoDaddy by 298.7% in the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after acquiring an additional 230 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

About GoDaddy

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.