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

GoDaddy (NYSE:GDDY) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

A number of other analysts have also recently weighed in on the stock. Robert W. Baird raised their target price on shares of GoDaddy from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Barclays upped 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 upped 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. Benchmark upped their price target on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, B. Riley upped their price target on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Five 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 data from MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and a consensus price target of $171.38.

GoDaddy Trading Up 0.8 %

Shares of NYSE:GDDY opened at $177.25 on Friday. The stock has a market capitalization of $24.99 billion, a price-to-earnings ratio of 13.70 and a beta of 1.11. GoDaddy has a 1-year low of $86.11 and a 1-year high of $177.77. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The company has a 50 day moving average price of $159.75 and a 200 day moving average price of $148.49.

GoDaddy (NYSE:GDDY) last issued its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $1.15 billion during 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% compared to the same quarter last year. During the same period last year, the firm posted $0.89 earnings per share. On average, research analysts anticipate that GoDaddy will post 4.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $167.79, for a total transaction of $503,370.00. Following the transaction, the chief executive officer now owns 345,956 shares in the company, valued at approximately $58,047,957.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $164.16, for a total value of $164,160.00. Following the completion of the sale, the chief operating officer now owns 186,632 shares of the company’s stock, valued at approximately $30,637,509.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on Friday, November 1st. The shares were sold at an average price of $167.79, for a total transaction of $503,370.00. Following the completion of the sale, the chief executive officer now directly owns 345,956 shares of the company’s stock, valued at approximately $58,047,957.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,344 shares of company stock worth $4,529,897 in the last quarter. 0.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GoDaddy

Several institutional investors and hedge funds have recently modified their holdings of the business. Ashton Thomas Securities LLC bought a new position in GoDaddy in the 3rd quarter worth $27,000. Transcendent Capital Group LLC bought a new position in GoDaddy in the 2nd quarter worth $28,000. ORG Wealth Partners LLC bought a new position in GoDaddy in the 3rd quarter worth $30,000. ORG Partners LLC bought a new position in GoDaddy in the 2nd quarter worth $32,000. Finally, International Assets Investment Management LLC bought a new position in GoDaddy in the 2nd quarter worth $36,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

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.