GoDaddy (NYSE:GDDY) Downgraded to Buy at StockNews.com

StockNews.com cut shares of GoDaddy (NYSE:GDDY) from a strong-buy rating to a buy rating in a report published on Wednesday morning.

GDDY has been the subject of several other research reports. Royal Bank of Canada lifted their target price on shares of GoDaddy from $145.00 to $175.00 and gave the stock an outperform rating in a report on Monday, August 5th. Benchmark restated a buy rating and set a $158.00 price objective on shares of GoDaddy in a research note on Monday, July 29th. JPMorgan Chase & Co. upped their target price on GoDaddy from $136.00 to $175.00 and gave the company an overweight rating in a research report on Wednesday, May 29th. UBS Group raised their price target on GoDaddy from $118.00 to $130.00 and gave the stock a neutral rating in a research report on Friday, May 3rd. Finally, Evercore ISI upped their price objective on shares of GoDaddy from $110.00 to $135.00 and gave the stock an in-line rating in a research report on Friday, May 3rd. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, GoDaddy currently has a consensus rating of Moderate Buy and an average target price of $161.25.

GoDaddy Trading Up 0.4 %

NYSE GDDY opened at $157.53 on Wednesday. GoDaddy has a 12 month low of $69.18 and a 12 month high of $158.09. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 9.15. The stock has a 50 day moving average of $143.17 and a 200-day moving average of $128.62. The company has a market cap of $22.48 billion, a PE ratio of 13.08 and a beta of 1.14.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a negative return on equity of 363.95% and a net margin of 41.12%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the company posted $0.63 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts anticipate that GoDaddy will post 4.81 EPS for the current fiscal year.

Insider Buying and Selling

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total value of $439,440.00. Following the transaction, the chief executive officer now directly owns 362,398 shares of the company’s stock, valued at $53,084,059.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total transaction of $439,440.00. Following the transaction, the chief executive officer now directly owns 362,398 shares in the company, valued at approximately $53,084,059.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Leah Sweet sold 1,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $141.59, for a total transaction of $141,590.00. Following the transaction, the director now directly owns 11,317 shares in the company, valued at $1,602,374.03. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,071 shares of company stock valued at $7,410,566. 0.61% of the stock is owned by company insiders.

Institutional Trading of GoDaddy

Several hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in GoDaddy during the 4th quarter worth about $28,000. Transcendent Capital Group LLC bought a new stake in shares of GoDaddy during the second quarter valued at about $28,000. GAMMA Investing LLC lifted its holdings in shares of GoDaddy by 102.3% in the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after buying an additional 133 shares in the last quarter. ORG Partners LLC bought a new position in shares of GoDaddy in the second quarter valued at approximately $32,000. Finally, Frazier Financial Advisors LLC purchased a new position in GoDaddy during the fourth quarter valued at approximately $33,000. 90.28% of the stock is currently 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.