GoDaddy (NYSE:GDDY) Hits New 52-Week Low – Here’s Why

GoDaddy Inc. (NYSE:GDDY) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $103.13 and last traded at $103.6590, with a volume of 161104 shares traded. The stock had previously closed at $104.46.

Wall Street Analyst Weigh In

GDDY has been the subject of several research reports. Jefferies Financial Group reduced their target price on shares of GoDaddy from $150.00 to $140.00 and set a “hold” rating for the company in a research note on Monday, January 5th. JPMorgan Chase & Co. cut their target price on GoDaddy from $222.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Wells Fargo & Company reduced their target price on GoDaddy from $157.00 to $145.00 and set an “equal weight” rating for the company in a research report on Monday, October 6th. Benchmark reissued a “buy” rating on shares of GoDaddy in a report on Thursday, December 4th. Finally, B. Riley reduced their price objective on shares of GoDaddy from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and an average target price of $166.21.

GoDaddy Stock Down 0.8%

The firm has a market cap of $14.00 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 0.95 and a beta of 0.95. The business’s 50-day moving average is $123.49 and its 200-day moving average is $138.40. The company has a debt-to-equity ratio of 41.06, a quick ratio of 0.57 and a current ratio of 0.57.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, October 30th. The technology company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.01. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the firm earned $1.32 earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Mark Mccaffrey sold 3,317 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction of $424,376.98. Following the sale, the chief financial officer owned 66,816 shares in the company, valued at approximately $8,548,439.04. This represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Phontip Palitwanon sold 2,397 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $128.44, for a total value of $307,870.68. Following the completion of the sale, the chief accounting officer owned 17,055 shares of the company’s stock, valued at approximately $2,190,544.20. This trade represents a 12.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,115 shares of company stock worth $1,809,657 in the last three months. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Large investors have recently modified their holdings of the stock. Hemington Wealth Management lifted its stake in shares of GoDaddy by 85.9% during the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after acquiring an additional 85 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of GoDaddy in the 4th quarter valued at about $25,000. Bayforest Capital Ltd acquired a new stake in shares of GoDaddy during the 2nd quarter worth approximately $26,000. NewSquare Capital LLC raised its stake in shares of GoDaddy by 170.9% during the second quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after buying an additional 94 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new position in GoDaddy in the third quarter valued at approximately $31,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.