GoDaddy (NYSE:GDDY) Shares Down 0.6% – Here’s Why

GoDaddy Inc. (NYSE:GDDY)’s stock price fell 0.6% on Friday . The company traded as low as $206.04 and last traded at $207.34. 158,988 shares traded hands during trading, a decline of 89% from the average session volume of 1,459,611 shares. The stock had previously closed at $208.54.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GDDY. Robert W. Baird lifted their price target on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Barclays lifted their target price on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a report on Wednesday. Piper Sandler boosted their price objective on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group increased their target price on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $181.57.

GoDaddy Stock Down 0.8 %

The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $29.04 billion, a P/E ratio of 16.02 and a beta of 1.15. The stock’s fifty day moving average is $174.49 and its two-hundred day moving average is $157.48.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $0.89 EPS. As a group, research analysts predict that GoDaddy Inc. will post 4.98 earnings per share for the current fiscal year.

Insider Activity at GoDaddy

In other GoDaddy news, CAO Phontip Palitwanon sold 770 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total value of $151,412.80. Following the transaction, the chief accounting officer now owns 23,059 shares in the company, valued at $4,534,321.76. The trade was a 3.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Nick Daddario sold 2,976 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.61, for a total value of $451,191.36. Following the completion of the transaction, the chief accounting officer now directly owns 14,728 shares in the company, valued at approximately $2,232,912.08. The trade was a 16.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,925 shares of company stock valued at $4,237,184. Company insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

Several large investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. lifted its stake in shares of GoDaddy by 10.2% in the 3rd quarter. Franklin Resources Inc. now owns 417,902 shares of the technology company’s stock valued at $68,565,000 after purchasing an additional 38,511 shares during the last quarter. Tidal Investments LLC raised its holdings in GoDaddy by 38.7% during the third quarter. Tidal Investments LLC now owns 18,643 shares of the technology company’s stock valued at $2,923,000 after buying an additional 5,205 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of GoDaddy in the third quarter worth about $922,000. Anchor Investment Management LLC bought a new stake in shares of GoDaddy during the 3rd quarter worth about $31,000. Finally, Te Ahumairangi Investment Management Ltd increased its holdings in shares of GoDaddy by 86.8% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 15,012 shares of the technology company’s stock valued at $2,340,000 after acquiring an additional 6,974 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

GoDaddy Company Profile

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.