GoDaddy (NYSE:GDDY) Sets New 52-Week Low – What’s Next?

GoDaddy Inc. (NYSE:GDDY)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $102.14 and last traded at $102.4690, with a volume of 191473 shares changing hands. The stock had previously closed at $106.02.

Analyst Ratings Changes

A number of brokerages have weighed in on GDDY. JPMorgan Chase & Co. lowered their price target on GoDaddy from $222.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Citigroup reduced their target price on GoDaddy from $214.00 to $195.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Jefferies Financial Group decreased their target price on GoDaddy from $150.00 to $140.00 and set a “hold” rating on the stock in a report on Monday, January 5th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of GoDaddy in a report on Friday, October 31st. Finally, Evercore ISI reduced their price objective on shares of GoDaddy from $180.00 to $145.00 and set an “in-line” rating for the company in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $166.21.

GoDaddy Stock Performance

The company has a fifty day moving average of $119.60 and a two-hundred day moving average of $134.97. The firm has a market capitalization of $13.39 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 0.94 and a beta of 0.95. The company has a debt-to-equity ratio of 41.06, a quick ratio of 0.57 and a current ratio of 0.57.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, October 30th. The technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. GoDaddy had a return on equity of 231.34% and a net margin of 17.01%.The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the firm posted $1.32 EPS. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, equities research analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $133.11, for a total value of $66,555.00. Following the completion of the sale, the director directly owned 19,957 shares in the company, valued at approximately $2,656,476.27. The trade was a 2.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total value of $886,880.08. Following the sale, the chief executive officer directly owned 399,133 shares in the company, valued at $51,065,076.02. This represents a 1.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 14,115 shares of company stock worth $1,809,657. 0.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GoDaddy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hemington Wealth Management increased its position in shares of GoDaddy by 85.9% in the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after purchasing an additional 85 shares during the period. Coldstream Capital Management Inc. increased its holdings in GoDaddy by 4.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company’s stock valued at $258,000 after buying an additional 86 shares during the period. Penserra Capital Management LLC increased its holdings in GoDaddy by 14.0% in the 2nd quarter. Penserra Capital Management LLC now owns 748 shares of the technology company’s stock valued at $134,000 after buying an additional 92 shares during the period. NewSquare Capital LLC raised its position in shares of GoDaddy by 170.9% in the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock valued at $27,000 after buying an additional 94 shares in the last quarter. Finally, MAI Capital Management lifted its holdings in shares of GoDaddy by 9.7% during the 2nd quarter. MAI Capital Management now owns 1,127 shares of the technology company’s stock worth $203,000 after acquiring an additional 100 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.