GoDaddy (NYSE:GDDY) Cut to "Hold" at StockNews.com

GoDaddy (NYSE:GDDY - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Tuesday.

Other research analysts also recently issued reports about the company. Jefferies Financial Group dropped their price target on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research report on Monday, April 7th. Citigroup reduced their price target on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a report on Friday, April 25th. B. Riley boosted their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Piper Sandler upped their price objective on shares of GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Finally, Barclays decreased their target price on GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, GoDaddy has an average rating of "Moderate Buy" and a consensus target price of $214.86.

GoDaddy Stock Performance

Shares of GoDaddy stock traded up $0.32 on Tuesday, reaching $190.27. The stock had a trading volume of 1,204,177 shares, compared to its average volume of 1,475,955. GoDaddy has a fifty-two week low of $134.63 and a fifty-two week high of $216.00. The business's 50-day moving average price is $178.11 and its two-hundred day moving average price is $188.58. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The stock has a market cap of $27.11 billion, a P/E ratio of 29.50 and a beta of 1.13.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.35 by ($0.08). The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm's revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $2.76 earnings per share. On average, sell-side analysts forecast that GoDaddy will post 6.63 EPS for the current year.

Insider Transactions at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $174.21, for a total value of $174,210.00. Following the transaction, the chief operating officer now owns 257,949 shares in the company, valued at $44,937,295.29. This trade represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Sharples sold 500 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $190.86, for a total transaction of $95,430.00. Following the transaction, the director now owns 21,121 shares in the company, valued at approximately $4,031,154.06. The trade was a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,500 shares of company stock valued at $10,050,555. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On GoDaddy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cornerstone Planning Group LLC increased its holdings in GoDaddy by 123.4% in the first quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company's stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. Park Square Financial Group LLC bought a new stake in GoDaddy during the 1st quarter worth approximately $27,000. Private Trust Co. NA increased its position in shares of GoDaddy by 591.3% during the first quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock worth $29,000 after acquiring an additional 136 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in GoDaddy in the 1st quarter worth $30,000. Finally, Banque Transatlantique SA bought a new stake in shares of GoDaddy in the first quarter valued at about $36,000. 90.28% of the stock is owned by institutional investors.

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.