GoDaddy (NYSE:GDDY) Price Target Lowered to $206.00 at Morgan Stanley

GoDaddy (NYSE:GDDY) had its target price lowered by Morgan Stanley from $228.00 to $206.00 in a report issued on Wednesday, MarketBeat.com reports. The brokerage currently has an equal weight rating on the technology company’s stock.

Other equities analysts also recently issued reports about the stock. Citigroup increased their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a report on Friday, January 3rd. 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. UBS Group boosted their price target on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. B. Riley raised their price objective on GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Wells Fargo & Company initiated coverage on shares of GoDaddy in a report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.73.

GoDaddy Trading Down 1.4 %

GDDY stock opened at $172.52 on Wednesday. GoDaddy has a 52-week low of $119.76 and a 52-week high of $216.00. 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 firm has a market cap of $24.39 billion, a P/E ratio of 26.75 and a beta of 1.19. The company’s 50-day simple moving average is $178.62 and its 200-day simple moving average is $185.49.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.18 billion. As a group, equities analysts forecast that GoDaddy will post 6.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the sale, the chief executive officer now directly owns 330,153 shares in the company, valued at $68,572,778.10. The trade was a 0.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $174.21, for a total transaction of $174,210.00. Following the transaction, the chief operating officer now owns 257,949 shares of the company’s stock, valued at $44,937,295.29. This trade represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,000 shares of company stock worth $3,346,400. 0.61% of the stock is owned by company insiders.

Institutional Trading of GoDaddy

Large investors have recently modified their holdings of the business. Quent Capital LLC grew its holdings in GoDaddy by 4.4% during the 4th quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock valued at $248,000 after buying an additional 53 shares during the last quarter. Advisors Capital Management LLC boosted its stake in shares of GoDaddy by 0.9% during the fourth quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company’s stock valued at $1,223,000 after acquiring an additional 55 shares during the last quarter. BNP Paribas increased its position in GoDaddy by 2.9% during the 4th quarter. BNP Paribas now owns 2,111 shares of the technology company’s stock worth $417,000 after purchasing an additional 59 shares in the last quarter. City Holding Co. raised its stake in GoDaddy by 30.0% in the 1st quarter. City Holding Co. now owns 260 shares of the technology company’s stock valued at $47,000 after purchasing an additional 60 shares during the last quarter. Finally, Lake Street Advisors Group LLC lifted its holdings in GoDaddy by 4.7% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock valued at $283,000 after purchasing an additional 64 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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.