Jefferies Financial Group Issues Pessimistic Forecast for GoDaddy (NYSE:GDDY) Stock Price

GoDaddy (NYSE:GDDY) had its target price cut by equities research analysts at Jefferies Financial Group from $200.00 to $185.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. Jefferies Financial Group’s target price indicates a potential upside of 14.15% from the stock’s previous close.

A number of other brokerages have also weighed in on GDDY. B. Riley raised their price target on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Citigroup increased their price target on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. raised their price target on GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Morgan Stanley increased their target price on GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Finally, Piper Sandler boosted their price objective on GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $212.20.

GoDaddy Stock Performance

Shares of GDDY traded down $2.35 during mid-day trading on Monday, reaching $162.07. The company had a trading volume of 445,442 shares, compared to its average volume of 1,429,750. The stock has a market capitalization of $22.91 billion, a P/E ratio of 24.96 and a beta of 1.25. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The stock has a 50 day moving average of $186.96 and a two-hundred day moving average of $185.26. GoDaddy has a 52-week low of $119.76 and a 52-week high of $216.00.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. On average, analysts expect that GoDaddy will post 6.63 earnings per share for the current year.

Insiders Place Their Bets

In other GoDaddy news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total transaction of $89,925.00. Following the transaction, the director now owns 21,621 shares of the company’s stock, valued at $3,888,536.85. The trade was a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $174.21, for a total transaction of $174,210.00. Following the completion of the transaction, the chief operating officer now directly owns 257,949 shares in the company, valued at $44,937,295.29. This trade represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,000 shares of company stock worth $3,546,970. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

A number of large investors have recently modified their holdings of the company. Proficio Capital Partners LLC bought a new stake in GoDaddy in the 4th quarter valued at about $25,554,000. CWA Asset Management Group LLC boosted its stake in GoDaddy by 29.2% during the fourth quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock valued at $3,172,000 after buying an additional 3,631 shares during the period. Fiduciary Alliance LLC purchased a new stake in shares of GoDaddy during the 4th quarter valued at $1,045,000. Mount Yale Investment Advisors LLC boosted its stake in shares of GoDaddy by 205.3% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company’s stock valued at $1,110,000 after purchasing an additional 3,783 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in shares of GoDaddy by 68.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,229 shares of the technology company’s stock valued at $243,000 after purchasing an additional 499 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

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.