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

StockNews.com cut shares of GoDaddy (NYSE:GDDY) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

GDDY has been the topic of a number of other reports. Barclays dropped their price objective on shares of GoDaddy from $243.00 to $235.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. B. Riley increased their target price on GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 14th. Wells Fargo & Company initiated coverage on GoDaddy in a report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price target for the company. Citigroup lowered their price objective on GoDaddy from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Finally, Jefferies Financial Group dropped their price objective on GoDaddy from $200.00 to $185.00 and set a “hold” rating on the stock in a report on Monday, April 7th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $214.86.

GoDaddy Stock Up 0.3%

GoDaddy stock opened at $187.51 on Tuesday. The firm has a market capitalization of $26.72 billion, a P/E ratio of 29.07 and a beta of 1.13. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. GoDaddy has a twelve month low of $131.84 and a twelve month high of $216.00. The stock’s fifty day simple moving average is $177.21 and its 200-day simple moving average is $188.39.

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

Insider Activity

In related news, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $180.66, for a total transaction of $90,330.00. Following the transaction, the director now owns 22,121 shares of the company’s stock, valued at $3,996,379.86. This trade represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mark Mccaffrey sold 37,500 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $180.95, for a total value of $6,785,625.00. Following the sale, the chief financial officer now directly owns 77,250 shares of the company’s stock, valued at approximately $13,978,387.50. This represents a 32.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,500 shares of company stock valued at $10,244,835. 0.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC grew its position in GoDaddy by 28.7% in the 3rd quarter. Barclays PLC now owns 447,425 shares of the technology company’s stock valued at $70,147,000 after buying an additional 99,734 shares during the last quarter. Principal Financial Group Inc. lifted 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 worth $31,052,000 after acquiring an additional 6,424 shares during the period. Czech National Bank boosted its holdings in shares of GoDaddy by 6.1% in the fourth quarter. Czech National Bank now owns 30,440 shares of the technology company’s stock valued at $6,008,000 after acquiring an additional 1,739 shares in the last quarter. Fiduciary Alliance LLC purchased a new stake in shares of GoDaddy in the fourth quarter valued at about $1,045,000. Finally, Friedenthal Financial acquired a new position in shares of GoDaddy during the fourth quarter worth about $49,000. 90.28% of the stock is currently 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.