GoDaddy (NYSE:GDDY) Price Target Cut to $185.00 by Analysts at Jefferies Financial Group

GoDaddy (NYSE:GDDY) had its target price lowered by analysts at Jefferies Financial Group from $200.00 to $185.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Jefferies Financial Group’s target price points to a potential upside of 14.15% from the company’s current price.

Several other analysts have also commented on GDDY. StockNews.com lowered GoDaddy from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Barclays raised their target price on GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Benchmark boosted their price objective on GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Raymond James raised their price objective on GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 21st. Finally, Morgan Stanley increased their price objective on GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $212.20.

GoDaddy Price Performance

NYSE:GDDY traded down $2.35 on Monday, reaching $162.07. 445,442 shares of the company’s stock traded hands, compared to its average volume of 1,429,750. The firm has a market cap of $22.91 billion, a PE ratio of 24.96 and a beta of 1.25. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The stock has a 50-day simple moving average of $186.96 and a 200-day simple moving average of $185.26. GoDaddy has a 12 month low of $119.76 and a 12 month high of $216.00.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. Equities research analysts forecast that GoDaddy will post 6.63 earnings per share for the current year.

Insiders Place Their Bets

In other GoDaddy news, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $103,850.00. Following the completion of the transaction, the director now directly owns 22,621 shares in the company, valued at approximately $4,698,381.70. This trade represents a 2.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $623,100.00. Following the transaction, the chief executive officer now directly owns 330,153 shares of the company’s stock, valued at approximately $68,572,778.10. This trade represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,000 shares of company stock worth $3,546,970. 0.61% of the stock is owned by insiders.

Institutional Trading of GoDaddy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GDDY. MassMutual Private Wealth & Trust FSB increased its stake in shares of GoDaddy by 16.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 862 shares of the technology company’s stock valued at $155,000 after acquiring an additional 120 shares during the last quarter. California State Teachers Retirement System boosted its position in GoDaddy by 6.0% during the 4th quarter. California State Teachers Retirement System now owns 233,188 shares of the technology company’s stock worth $46,024,000 after purchasing an additional 13,206 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in GoDaddy by 4.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,184 shares of the technology company’s stock valued at $1,023,000 after purchasing an additional 240 shares in the last quarter. Siemens Fonds Invest GmbH raised its position in GoDaddy by 1,842.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 29,159 shares of the technology company’s stock valued at $5,499,000 after purchasing an additional 27,658 shares during the period. Finally, Total Wealth Planning & Management Inc. acquired a new position in shares of GoDaddy during the fourth quarter worth about $244,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

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.