GoDaddy (NYSE:GDDY) Upgraded by Piper Sandler to “Hold” Rating

GoDaddy (NYSE:GDDY) was upgraded by Piper Sandler to a “hold” rating in a report released on Wednesday,Zacks.com reports.

GDDY has been the subject of several other reports. Weiss Ratings reissued a “hold (c)” rating on shares of GoDaddy in a report on Wednesday, January 28th. Morgan Stanley decreased their target price on GoDaddy from $159.00 to $145.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. UBS Group cut their price target on GoDaddy from $145.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Citigroup cut their price objective on GoDaddy from $195.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Finally, Evercore set a $95.00 price target on GoDaddy in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and an average target price of $125.57.

GoDaddy Stock Performance

NYSE:GDDY opened at $81.18 on Wednesday. The company has a fifty day moving average of $97.46 and a 200-day moving average of $120.99. GoDaddy has a twelve month low of $73.06 and a twelve month high of $193.55. The firm has a market capitalization of $10.83 billion, a P/E ratio of 13.03, a P/E/G ratio of 0.74 and a beta of 0.96. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 17.50.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Tuesday, February 24th. The technology company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.58 by $0.22. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. GoDaddy had a return on equity of 369.00% and a net margin of 17.67%.The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.36 earnings per share. As a group, sell-side analysts anticipate that GoDaddy will post 6.63 EPS for the current year.

Insider Activity at GoDaddy

In other GoDaddy news, Director Leah Sweet sold 650 shares of GoDaddy stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $86.86, for a total transaction of $56,459.00. Following the completion of the sale, the director owned 11,414 shares of the company’s stock, valued at approximately $991,420.04. The trade was a 5.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Phontip Palitwanon sold 1,310 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $90.15, for a total value of $118,096.50. Following the sale, the chief accounting officer directly owned 20,349 shares in the company, valued at $1,834,462.35. This represents a 6.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 61,918 shares of company stock worth $5,500,469 in the last quarter. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GoDaddy

Several hedge funds and other institutional investors have recently bought and sold shares of GDDY. Hemington Wealth Management lifted its position in GoDaddy by 85.9% in the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after buying an additional 85 shares during the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of GoDaddy by 4.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company’s stock valued at $258,000 after acquiring an additional 86 shares during the last quarter. MAI Capital Management boosted its holdings in shares of GoDaddy by 9.7% in the 2nd quarter. MAI Capital Management now owns 1,127 shares of the technology company’s stock valued at $203,000 after buying an additional 100 shares in the last quarter. Clearstead Advisors LLC boosted its position in shares of GoDaddy by 0.9% in the 3rd quarter. Clearstead Advisors LLC now owns 12,324 shares of the technology company’s stock valued at $1,686,000 after purchasing an additional 104 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in shares of GoDaddy by 2.1% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,581 shares of the technology company’s stock worth $764,000 after acquiring an additional 113 shares during the last quarter. 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.