Barclays Cuts GoDaddy (NYSE:GDDY) Price Target to $104.00

GoDaddy (NYSE:GDDY – Get Rating) had its price objective decreased by Barclays from $118.00 to $104.00 in a research note issued to investors on Tuesday, The Fly reports. Barclays currently has an overweight rating on the technology company’s stock.

A number of other analysts also recently weighed in on GDDY. Piper Sandler raised shares of GoDaddy from a neutral rating to an overweight rating and increased their price target for the company from $94.00 to $110.00 in a report on Monday, April 25th. Benchmark raised their price objective on shares of GoDaddy from $102.00 to $106.00 and gave the stock a buy rating in a report on Thursday, May 5th. StockNews.com assumed coverage on shares of GoDaddy in a report on Thursday, March 31st. They set a buy rating for the company. Finally, Jefferies Financial Group reduced their price objective on shares of GoDaddy from $110.00 to $100.00 in a report on Tuesday, May 31st. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, GoDaddy has a consensus rating of Moderate Buy and an average price target of $101.40.

Shares of GoDaddy stock opened at $67.76 on Tuesday. The company has a debt-to-equity ratio of 46.37, a current ratio of 0.58 and a quick ratio of 0.58. GoDaddy has a fifty-two week low of $64.81 and a fifty-two week high of $90.43. The firm has a fifty day moving average price of $75.28 and a two-hundred day moving average price of $77.57. The company has a market cap of $10.98 billion, a PE ratio of 38.07, a price-to-earnings-growth ratio of 2.16 and a beta of 0.97.

GoDaddy (NYSE:GDDY – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The technology company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). GoDaddy had a net margin of 7.66% and a negative return on equity of 231.58%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $989.20 million. During the same period last year, the company earned $0.06 earnings per share. GoDaddy’s revenue for the quarter was up 11.3% on a year-over-year basis. Analysts expect that GoDaddy will post 2.05 earnings per share for the current fiscal year.

In related news, CEO Amanpal Singh Bhutani sold 1,987 shares of GoDaddy stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $86.51, for a total transaction of $171,895.37. Following the completion of the transaction, the chief executive officer now directly owns 224,051 shares of the company’s stock, valued at approximately $19,382,652.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 3,637 shares of company stock valued at $294,262 over the last three months. 0.37% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CAPROCK Group Inc. increased its position in GoDaddy by 4.9% in the 1st quarter. CAPROCK Group Inc. now owns 3,686 shares of the technology company’s stock valued at $309,000 after acquiring an additional 172 shares in the last quarter. Quadrant Capital Group LLC increased its position in GoDaddy by 23.3% in the 1st quarter. Quadrant Capital Group LLC now owns 947 shares of the technology company’s stock valued at $79,000 after acquiring an additional 179 shares in the last quarter. Wetherby Asset Management Inc. increased its position in GoDaddy by 3.3% in the 4th quarter. Wetherby Asset Management Inc. now owns 6,232 shares of the technology company’s stock valued at $529,000 after acquiring an additional 202 shares in the last quarter. Tobam increased its position in GoDaddy by 31.7% in the 1st quarter. Tobam now owns 872 shares of the technology company’s stock valued at $73,000 after acquiring an additional 210 shares in the last quarter. Finally, Column Capital Advisors LLC increased its position in GoDaddy by 25.4% in the 1st quarter. Column Capital Advisors LLC now owns 1,080 shares of the technology company’s stock valued at $90,000 after acquiring an additional 219 shares in the last quarter. Hedge funds and other institutional investors own 98.38% of the company’s stock.

GoDaddy Company Profile (Get Rating)

GoDaddy Inc engages in the design and development of cloud-based technology products in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity. It also offers shared Website hosting products that provide various applications and products, such as web analytics, Secure Sockets Layer certificates, and WordPress; Website hosting on virtual private servers and virtual dedicated servers products, which allows customers to select the server configuration suited for their applications, requirements, and growth; managed hosting products to set up, monitor, maintain, secure, and patch software and servers for customers; and security products, a suite of tools designed to help secure customers' online presence.

See Also