GoDaddy (NYSE:GDDY) Sets New 12-Month Low – Should You Sell?

GoDaddy Inc. (NYSE:GDDY) hit a new 52-week low during trading on Thursday . The stock traded as low as $114.36 and last traded at $114.5470, with a volume of 121519 shares traded. The stock had previously closed at $117.48.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GDDY shares. Evercore ISI cut their price target on shares of GoDaddy from $180.00 to $145.00 and set an “in-line” rating for the company in a report on Friday, October 31st. Benchmark reiterated a “buy” rating on shares of GoDaddy in a research report on Thursday, December 4th. UBS Group decreased their price target on GoDaddy from $160.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Cantor Fitzgerald dropped their price objective on GoDaddy from $150.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of GoDaddy in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $167.21.

GoDaddy Trading Down 1.7%

The company has a debt-to-equity ratio of 41.06, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market capitalization of $15.35 billion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 1.05 and a beta of 0.95. The business has a fifty day moving average price of $126.57 and a 200 day moving average price of $141.89.

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

Insider Transactions at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 6,932 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction of $886,880.08. Following the completion of the transaction, the chief executive officer directly owned 399,133 shares of the company’s stock, valued at approximately $51,065,076.02. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $133.11, for a total transaction of $66,555.00. Following the transaction, the director directly owned 19,957 shares of the company’s stock, valued at $2,656,476.27. The trade was a 2.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 14,115 shares of company stock valued at $1,809,657. 0.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GoDaddy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hemington Wealth Management boosted its position in GoDaddy by 85.9% during the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after acquiring an additional 85 shares during the period. Bayforest Capital Ltd bought a new stake in shares of GoDaddy during the second quarter valued at about $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 valued at $27,000 after purchasing an additional 94 shares in the last quarter. Root Financial Partners LLC acquired a new stake in GoDaddy in the third quarter worth about $31,000. Finally, Brown Brothers Harriman & Co. grew its position in GoDaddy by 145.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock valued at $35,000 after buying an additional 150 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

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.