GoDaddy (NYSE:GDDY) Price Target Cut to $234.00 by Analysts at Citigroup

GoDaddy (NYSE:GDDY - Free Report) had its target price cut by Citigroup from $260.00 to $234.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a buy rating on the technology company's stock.

Other equities research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of GoDaddy from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. Morgan Stanley lowered their price objective on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. UBS Group raised their price objective on shares of GoDaddy from $172.00 to $225.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Jefferies Financial Group lowered their price objective on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. Finally, Raymond James raised their price objective on shares of GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 21st. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $209.60.

GoDaddy Stock Down 1.3 %

NYSE GDDY traded down $2.50 on Friday, reaching $185.96. The stock had a trading volume of 422,419 shares, compared to its average volume of 1,468,946. The business has a 50 day moving average price of $175.77 and a 200 day moving average price of $186.89. 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 1 year low of $120.59 and a 1 year high of $216.00. The company has a market capitalization of $26.29 billion, a price-to-earnings ratio of 28.83 and a beta of 1.19.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. On average, analysts forecast that GoDaddy will post 6.63 EPS for the current fiscal year.

Insider Activity

In other news, Director Brian Sharples sold 500 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $103,850.00. Following the sale, the director now owns 22,621 shares in the company, valued at approximately $4,698,381.70. The trade was a 2.16 % decrease in their position. The sale 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 dated Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the completion of the transaction, the chief executive officer now directly owns 330,153 shares of the company's stock, valued at $68,572,778.10. This represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,000 shares of company stock worth $3,518,150. Corporate insiders own 0.61% of the company's stock.

Institutional Trading of GoDaddy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in GoDaddy by 11.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company's stock worth $751,778,000 after purchasing an additional 395,160 shares during the last quarter. Geode Capital Management LLC raised its holdings in GoDaddy by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company's stock worth $692,245,000 after purchasing an additional 90,810 shares during the period. WCM Investment Management LLC raised its holdings in GoDaddy by 2.0% in the first quarter. WCM Investment Management LLC now owns 3,471,218 shares of the technology company's stock worth $620,931,000 after purchasing an additional 67,152 shares during the period. Invesco Ltd. raised its holdings in GoDaddy by 11.6% in the fourth quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company's stock worth $575,122,000 after purchasing an additional 304,033 shares during the period. Finally, Norges Bank acquired a new stake in GoDaddy in the fourth quarter worth $356,038,000. 90.28% of the stock is owned by institutional investors.

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.