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

GoDaddy (NYSE:GDDY) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Friday.

A number of other research firms have also recently weighed in on GDDY. Benchmark upped their target price on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research report on Monday, October 7th. Barclays boosted their price target on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Raymond James boosted their price target on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Robert W. Baird boosted their price target on shares of GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.38.

GoDaddy Stock Performance

NYSE GDDY opened at $177.25 on Friday. The stock has a market cap of $24.99 billion, a P/E ratio of 13.70 and a beta of 1.11. The company’s 50-day simple moving average is $159.75 and its 200 day simple moving average is $148.49. GoDaddy has a twelve month low of $86.11 and a twelve month high of $177.77. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last posted its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 earnings per share. As a group, research analysts forecast that GoDaddy will post 4.95 earnings per share for the current fiscal year.

Insider Transactions at GoDaddy

In related news, CAO Nick Daddario sold 2,976 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $151.61, for a total transaction of $451,191.36. Following the completion of the sale, the chief accounting officer now directly owns 14,728 shares of the company’s stock, valued at $2,232,912.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CAO Nick Daddario sold 2,976 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $151.61, for a total transaction of $451,191.36. Following the completion of the sale, the chief accounting officer now directly owns 14,728 shares of the company’s stock, valued at $2,232,912.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $152.17, for a total transaction of $152,170.00. Following the sale, the chief operating officer now directly owns 187,632 shares of the company’s stock, valued at approximately $28,551,961.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,344 shares of company stock worth $4,529,897. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Several large investors have recently bought and sold shares of GDDY. Ashton Thomas Securities LLC bought a new stake in GoDaddy in the third quarter valued at approximately $27,000. Transcendent Capital Group LLC bought a new stake in GoDaddy in the second quarter valued at approximately $28,000. ORG Wealth Partners LLC bought a new stake in GoDaddy in the third quarter valued at approximately $30,000. ORG Partners LLC bought a new stake in GoDaddy in the second quarter valued at approximately $32,000. Finally, International Assets Investment Management LLC bought a new stake in GoDaddy in the second quarter valued at approximately $36,000. Institutional investors own 90.28% of the company’s stock.

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.