GoDaddy (NYSE:GDDY) Upgraded to "Hold" at UBS Group

GoDaddy (NYSE:GDDY - Get Free Report) was upgraded by equities researchers at UBS Group to a "hold" rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other brokerages have also recently commented on GDDY. Wells Fargo & Company boosted their price objective on shares of GoDaddy from $77.00 to $83.00 and gave the company an "equal weight" rating in a research note on Friday. Morgan Stanley reduced their price objective on shares of GoDaddy from $159.00 to $145.00 and set an "equal weight" rating for the company in a research note on Thursday, January 15th. Jefferies Financial Group reduced their price objective on shares of GoDaddy from $140.00 to $100.00 and set a "hold" rating for the company in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of GoDaddy in a research note on Wednesday, January 28th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of GoDaddy from $167.00 to $154.00 and set an "overweight" rating for the company in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, GoDaddy currently has an average rating of "Moderate Buy" and a consensus price target of $120.57.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $87.51 on Tuesday. The company has a 50 day moving average of $84.78 and a 200 day moving average of $106.37. The stock has a market cap of $11.67 billion, a P/E ratio of 13.85, a P/E/G ratio of 0.79 and a beta of 0.92. GoDaddy has a 12 month low of $73.06 and a 12 month high of $190.50. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 15.86.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.53 by $0.07. The company had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. GoDaddy's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.51 earnings per share. As a group, sell-side analysts forecast that GoDaddy will post 7.18 EPS for the current fiscal year.

Insider Activity at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 34,148 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total value of $3,038,830.52. Following the completion of the transaction, the chief executive officer owned 530,120 shares of the company's stock, valued at $47,175,378.80. The trade was a 6.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 17,406 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total transaction of $1,548,959.94. Following the completion of the transaction, the chief financial officer directly owned 113,003 shares of the company's stock, valued at approximately $10,056,136.97. This represents a 13.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 61,918 shares of company stock worth $5,500,469 in the last 90 days. 0.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GoDaddy

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in GoDaddy by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 18,912,182 shares of the technology company's stock worth $2,587,754,000 after buying an additional 150,045 shares in the last quarter. WCM Investment Management LLC boosted its stake in shares of GoDaddy by 1.8% in the 3rd quarter. WCM Investment Management LLC now owns 3,736,821 shares of the technology company's stock valued at $529,395,000 after purchasing an additional 66,144 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of GoDaddy by 47.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company's stock valued at $483,360,000 after purchasing an additional 1,128,646 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of GoDaddy by 11.0% in the 4th quarter. JPMorgan Chase & Co. now owns 3,216,382 shares of the technology company's stock valued at $399,089,000 after purchasing an additional 319,515 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of GoDaddy by 117.5% in the 4th quarter. AQR Capital Management LLC now owns 2,989,931 shares of the technology company's stock valued at $370,991,000 after purchasing an additional 1,615,005 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

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.

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