GoDaddy (NYSE:GDDY) Trading Down 0.6% – What’s Next?

GoDaddy Inc. (NYSE:GDDY) shares traded down 0.6% during trading on Friday . The stock traded as low as $206.04 and last traded at $207.34. 158,988 shares were traded during trading, a decline of 89% from the average session volume of 1,459,611 shares. The stock had previously closed at $208.54.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GDDY shares. Jefferies Financial Group raised their target price on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday. Benchmark lifted their target price on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird increased their price target on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Piper Sandler boosted their price target on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. increased their price objective on GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $181.57.

GoDaddy Stock Performance

The firm has a market cap of $29.00 billion, a price-to-earnings ratio of 15.96 and a beta of 1.15. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The stock’s 50 day moving average is $175.50 and its 200 day moving average is $158.09.

GoDaddy (NYSE:GDDY) last posted its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.89 earnings per share. Analysts anticipate that GoDaddy Inc. will post 4.93 earnings per share for the current year.

Insider Transactions at GoDaddy

In related news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total transaction of $855,800.00. Following the sale, the chief financial officer now owns 93,102 shares of the company’s stock, valued at $14,486,671.20. This represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total value of $98,885.00. Following the completion of the transaction, the director now directly owns 23,621 shares of the company’s stock, valued at $4,671,525.17. This represents a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,925 shares of company stock valued at $4,237,184. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GDDY. State Street Corp grew its stake in GoDaddy by 2.2% during the third quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock worth $1,080,549,000 after buying an additional 147,105 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of GoDaddy by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock worth $535,153,000 after acquiring an additional 84,550 shares in the last quarter. FMR LLC boosted its position in shares of GoDaddy by 19.8% during the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after acquiring an additional 274,014 shares in the last quarter. Federated Hermes Inc. increased its stake in GoDaddy by 35.6% in the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after acquiring an additional 394,399 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in GoDaddy by 17.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company’s stock valued at $214,584,000 after purchasing an additional 203,909 shares in the last quarter. Institutional investors and hedge funds 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.