GoDaddy Stock (GDDY:NYE) Hits a New Low After Analyst Downgrade

During Friday’s trading, GoDaddy Inc. (GDDY:NYE) shares hit a new 52-week low following Piper Sandler’s reduction of their price target on the GoDaddy stock from $110.00 to $100.00. The stock currently has an overweight rating from Piper Sandler. GoDaddy stock saw a low price of $64.64 and a high price of $65.78, with 22593 shares changing hands during the exchange. The previous closing price of the stock was $70.17.

Reports on the company have also been released by a number of other research analysts. In a research note published on Thursday, August 4th, Barclays increased their GoDaddy stock price target from $104.00 to $107.00 and assigned the stock an “overweight” rating.

In a research note published on Friday, Raymond James gave the stock a “strong-buy” rating and lowered its price target for the company from $100 to $88.

On Tuesday, August 9th, Evercore ISI raised their target price for GoDaddy to $91.

Last but not least, in a report on Thursday, August 4th, Morgan Stanley raised their target price on GoDaddy from $91.00 to $93.00 and rated the stock as “equal weight.”

1 research analyst has given the GoDaddy stock a “Hold” rating, 4 have given the stock a “Buy” rating, and 1 has given the company a “Strong Buy” rating.

Stock Target Advisor’s analysis of the GoDaddy stock currently has an average “Strong Buy” rating and an average price target of $97.11.

 

GoDaddy Stock-Insider Buying & Selling:

In related news, on Monday, August 15th, CAO Nick Daddario sold 600 shares of the company’s stock. The stock was sold for a total of $49,200.00 at an average price of $82.00. The chief accounting officer now owns 15,608 company shares, valued at $1,279,856, after the transaction.

Additionally, on September 7th, CFO Mark Mccaffrey sold 2,700 shares of the company’s stock. The shares were sold for a total of $198,612.00 at an average price of $73.56 per share. The transaction has been completed, and the chief financial officer now owns 82,250 company shares worth approximately $6,050,310.

Insiders have sold 6,202 shares of the GoDaddy stock in the last quarter for a total value of $464,040. 0.37% of the company’s stock is owned by insiders.

 

Hedge Funds Comment on GoDaddy:

Institutional investors, including hedge funds, have lately increased or decreased their holdings in the stock. During the first quarter, Achmea Investment Management B.V. acquired a new GoDaddy investment valued around $31,000.

During the first quarter, IndexIQ Advisors LLC added a new investment in GoDaddy stock worth about $37,000.

During the third quarter, Wipfli Financial Advisors LLC added a new holding in GoDaddy stock worth about $33,000.

During the first quarter, Steward Partners Investment Advisory LLC increased its holdings in GoDaddy by 179.0%.

Steward Partners Investment Advisory LLC now owns 358 more shares of the technology company’s stock, for a total of 558, valued at $47,000.

Finally, during the second quarter, Truvestments Capital LLC added a new investment in GoDaddy shares valued about $41,000. 96.50% of Godaddy stock shares are owned by institutions.

 

GoDaddy Stock-Price Performance:

A $10.29 billion market cap, a price-to-earnings ratio of 31.72, a price-to-earnings-growth ratio of 2.40, and a beta of 0.95 are all attributes of the company. The stock’s 50-day and 200-day moving average prices are $75.30 and $75.1, respectively.

 

Quarterly Earnings:

On Wednesday, August 3rd, GoDaddy (GDDY:NYE) announced its most recent quarterly earnings report. The IT company beat analysts’ consensus expectations by $0.09 and produced $0.56 per share for the quarter.

Analysts had predicted $1.02 billion in revenue for the quarter, but the corporation actually brought in $1.02 billion. GoDaddy had a net margin of 8.58% and a negative return on equity of 147.44%.

For the current fiscal year, sell-side analysts predict that GoDaddy Inc. will generate 2.2 EPS.

 

About GoDaddy Inc. (GDDY:NYE):

GoDaddy Inc. engages in the design and development of cloud-based technology products in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity.

It also offers shared Website hosting products that provide various applications and products, such as web analytics, Secure Sockets Layer certificates, and WordPress; Website hosting on virtual private servers and virtual dedicated servers products, which allows customers to select the server configuration suited for their applications, requirements, and growth; managed hosting products to set up, monitor, maintain, secure, and patch software and servers for customers; and security products, a suite of tools designed to help secure customers’ online presence.

In addition, the company provides presence products, such as Websites + Marketing, a do-it-yourself mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; a range of marketing tools and services designed to help businesses acquire and engage customers, and create content, as well as search engine optimization that helps customers get their websites found on search sites; and social media management services.

Further, it offers business application products, such as Microsoft Office 365, email accounts, email marketing, and Internet-based telephony services; online store capabilities that allows customers to transact business directly on their websites; GoDaddy Payments, a payment facilitator; and point-of-sale (POS) devices, as well as software for POS. The company serves small businesses, individuals, organizations, developers, designers, and domain investors. GoDaddy Inc. was incorporated in 2014 and is headquartered in Tempe, Arizona.