GoDaddy Inc. (NYSE:GDDY) Stock Now Rated “Hold” by Wall Street Analysts

Shares of GoDaddy Inc. (NYSE:GDDY) have earned an average recommendation of “Hold” from the nineteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $111.00.

A number of research firms recently issued reports on GDDY. Wells Fargo & Company downgraded shares of GoDaddy from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $80.00 to $76.00 in a report on Wednesday, August 26th. William Blair cut shares of GoDaddy from an “outperform” rating to a “market perform” rating in a report on Friday, July 31st. Royal Bank Of Canada downgraded shares of GoDaddy from an “outperform” rating to a “sector perform” rating and set a $95.00 price target on the stock. in a research report on Sunday, October 11th. Citigroup dropped their price target on shares of GoDaddy from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Finally, Raymond James Financial cut shares of GoDaddy from a “strong-buy” rating to an “outperform” rating and set a $100.00 price target on the stock. in a research note on Friday, July 31st.

GoDaddy Stock Down 1.8%

GoDaddy stock opened at $112.64 on Friday. GoDaddy has a one year low of $71.59 and a one year high of $137.93. The stock has a fifty day moving average of $100.20 and a 200 day moving average of $91.63. The company has a debt-to-equity ratio of 561.10, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a market cap of $14.27 billion, a PE ratio of 16.71 and a beta of 0.94.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, July 30th. The technology company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.14. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. GoDaddy had a return on equity of 660.96% and a net margin of 17.83%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the firm posted $1.41 earnings per share. As a group, sell-side analysts predict that GoDaddy will post 7.24 EPS for the current year.

Insiders Place Their Bets

In other GoDaddy news, CFO Mark McCaffrey sold 5,873 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $100.91, for a total transaction of $592,644.43. Following the sale, the chief financial officer owned 99,855 shares in the company, valued at approximately $10,076,368.05. This trade represents a 5.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Phontip Palitwanon sold 530 shares of GoDaddy stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $101.19, for a total transaction of $53,630.70. Following the transaction, the chief accounting officer directly owned 17,204 shares in the company, valued at $1,740,872.76. This represents a 2.99% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 31,358 shares of company stock valued at $3,031,831. 0.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GoDaddy

Several large investors have recently made changes to their positions in the business. Pacer Advisors Inc. grew its stake in shares of GoDaddy by 67.0% in the 4th quarter. Pacer Advisors Inc. now owns 1,256,998 shares of the technology company’s stock worth $155,968,000 after buying an additional 504,374 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of GoDaddy by 79.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 970,543 shares of the technology company’s stock valued at $80,235,000 after buying an additional 431,094 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of GoDaddy during the 2nd quarter valued at about $28,938,000. Bank of America Corp DE raised its position in shares of GoDaddy by 27.9% during the 1st quarter. Bank of America Corp DE now owns 1,383,615 shares of the technology company’s stock valued at $114,383,000 after buying an additional 302,126 shares in the last quarter. Finally, Rice Hall James & Associates LLC lifted its holdings in shares of GoDaddy by 1,218.1% in the 1st quarter. Rice Hall James & Associates LLC now owns 319,453 shares of the technology company’s stock valued at $26,409,000 after acquiring an additional 295,218 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

About GoDaddy

GoDaddy Inc (NYSE: GDDY) is a global technology company that provides online tools and services to entrepreneurs, small businesses and individuals. Its platform helps customers establish, manage and grow an online presence, with offerings that include domain-name registration, website hosting, website and online-store builders, professional email and digital marketing tools.

The company also provides services designed to support commerce and customer engagement, including e-commerce functionality, online appointment scheduling, payments and other business-management capabilities.