GoDaddy (NYSE:GDDY) Reaches New 12-Month Low - Here's What Happened

Key Points

• GoDaddy Inc. (NYSE:GDDY) shares reached a new 12-month low, trading at $132.40, with a significant volume of 558,458 shares traded during the session.
• Analysts have cut their price targets for GoDaddy, with Wells Fargo lowering its target from $198 to $157, while other brokerages maintained varied ratings from strong buy to hold.
• The company reported better-than-expected quarterly earnings with $1.41 EPS, exceeding analyst estimates, and revenue grew 8.3% year-over-year to $1.22 billion.

GoDaddy Inc. (NYSE:GDDY - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $132.40 and last traded at $132.49, with a volume of 558458 shares traded. The stock had previously closed at $136.83.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GDDY. Wells Fargo & Company cut their price target on shares of GoDaddy from $198.00 to $157.00 and set an "equal weight" rating on the stock in a report on Friday, August 8th. Piper Sandler set a $182.00 price target on shares of GoDaddy and gave the stock an "overweight" rating in a report on Friday, August 8th. Barclays cut their price target on shares of GoDaddy from $235.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Citigroup dropped their target price on shares of GoDaddy from $234.00 to $214.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, Raymond James Financial dropped their target price on shares of GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating for the company in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, GoDaddy currently has an average rating of "Moderate Buy" and a consensus price target of $197.79.

GoDaddy Price Performance

The business's 50 day moving average price is $148.34 and its 200 day moving average price is $167.79. The stock has a market capitalization of $18.33 billion, a P/E ratio of 23.66, a price-to-earnings-growth ratio of 1.53 and a beta of 1.02. The company has a debt-to-equity ratio of 9.33, a current ratio of 0.64 and a quick ratio of 0.64.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.07. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The business's revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.01 earnings per share. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Activity at GoDaddy

In related news, CFO Mark Mccaffrey sold 3,326 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $142.21, for a total transaction of $472,990.46. Following the completion of the sale, the chief financial officer directly owned 70,133 shares in the company, valued at approximately $9,973,613.93. The trade was a 4.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Brian Sharples sold 500 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $146.26, for a total transaction of $73,130.00. Following the sale, the director owned 20,957 shares of the company's stock, valued at $3,065,170.82. This trade represents a 2.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,703 shares of company stock valued at $4,132,543 in the last three months. Corporate insiders own 0.70% of the company's stock.

Hedge Funds Weigh In On GoDaddy

Several large investors have recently added to or reduced their stakes in the company. Corient Private Wealth LLC lifted its holdings in GoDaddy by 12.3% during the second quarter. Corient Private Wealth LLC now owns 8,336 shares of the technology company's stock valued at $1,501,000 after purchasing an additional 916 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in GoDaddy by 9.4% during the second quarter. Texas Permanent School Fund Corp now owns 17,009 shares of the technology company's stock valued at $3,063,000 after purchasing an additional 1,467 shares in the last quarter. Orion Porfolio Solutions LLC lifted its holdings in GoDaddy by 2.3% during the second quarter. Orion Porfolio Solutions LLC now owns 8,966 shares of the technology company's stock valued at $1,614,000 after purchasing an additional 203 shares in the last quarter. Munro Partners purchased a new position in GoDaddy during the second quarter valued at approximately $3,167,000. Finally, CYBER HORNET ETFs LLC purchased a new position in GoDaddy during the second quarter valued at approximately $66,000. Hedge funds and other 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.

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