GoDaddy (NYSE:GDDY) Upgraded to “Hold” at UBS Group

GoDaddy (NYSE:GDDY) was upgraded by UBS Group to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler began coverage on shares of GoDaddy in a research note on Thursday, March 12th. They issued a “neutral” rating and a $93.00 price objective for the company. Evercore set a $95.00 price target on shares of GoDaddy in a research report on Wednesday, February 25th. Jefferies Financial Group dropped their price target on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a research report on Monday, February 23rd. Morgan Stanley dropped their price target on shares of GoDaddy from $159.00 to $145.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Finally, Royal Bank Of Canada dropped their price target on shares of GoDaddy from $200.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $120.57.

GoDaddy Price Performance

Shares of GoDaddy stock opened at $87.51 on Tuesday. GoDaddy has a 52-week low of $73.06 and a 52-week high of $190.50. The stock has a market capitalization of $11.67 billion, a price-to-earnings ratio of 13.85, a price-to-earnings-growth ratio of 0.79 and a beta of 0.92. The company has a fifty day moving average of $84.78 and a 200-day moving average of $106.37. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.61 and a current ratio of 0.67.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the company earned $1.51 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. Equities research analysts expect that GoDaddy will post 7.18 EPS for the current year.

Insider Activity

In other GoDaddy news, Director Leah Sweet sold 650 shares of the stock in a transaction on Monday, March 2nd. The shares were 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 $991,420.04. This represents a 5.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark Mccaffrey sold 17,406 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total transaction of $1,548,959.94. Following the sale, the chief financial officer directly owned 113,003 shares of the company’s stock, valued at $10,056,136.97. The trade was a 13.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 61,918 shares of company stock worth $5,500,469. 0.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GDDY. Sivia Capital Partners LLC raised its holdings in GoDaddy by 90.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,271 shares of the technology company’s stock worth $589,000 after purchasing an additional 1,552 shares in the last quarter. Cerity Partners LLC raised its holdings in GoDaddy by 50.0% in the 2nd quarter. Cerity Partners LLC now owns 27,189 shares of the technology company’s stock worth $4,896,000 after purchasing an additional 9,062 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in GoDaddy by 83.0% in the 2nd quarter. Treasurer of the State of North Carolina now owns 155,593 shares of the technology company’s stock worth $28,016,000 after purchasing an additional 70,585 shares in the last quarter. Osterweis Capital Management Inc. bought a new position in GoDaddy in the 2nd quarter worth $152,000. Finally, Main Street Financial Solutions LLC raised its holdings in GoDaddy by 1.0% in the 2nd quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock worth $2,185,000 after purchasing an additional 119 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

About GoDaddy

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.