Citigroup Has Lowered Expectations for GoDaddy (NYSE:GDDY) Stock Price

GoDaddy (NYSE:GDDY) had its price objective dropped by stock analysts at Citigroup from $110.00 to $105.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Citigroup’s target price indicates a potential upside of 18.87% from the company’s current price.

Several other analysts have also issued reports on the company. JPMorgan Chase & Co. dropped their price objective on GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a research note on Thursday, June 18th. Deutsche Bank Aktiengesellschaft cut shares of GoDaddy to a “buy” rating in a research report on Friday. B. Riley Financial cut their target price on shares of GoDaddy from $190.00 to $170.00 and set a “buy” rating for the company in a research note on Friday. Wedbush decreased their price target on shares of GoDaddy from $109.00 to $93.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Piper Sandler restated a “neutral” rating and set a $95.00 price objective (up from $93.00) on shares of GoDaddy in a research report on Friday. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $110.33.

GoDaddy Stock Up 6.8%

NYSE GDDY traded up $5.59 during trading on Monday, hitting $88.33. The stock had a trading volume of 2,863,135 shares, compared to its average volume of 2,325,658. GoDaddy has a 12 month low of $71.59 and a 12 month high of $158.58. The company has a debt-to-equity ratio of 561.10, a quick ratio of 0.67 and a current ratio of 0.63. The company’s 50-day moving average price is $86.64 and its two-hundred day moving average price is $88.62. The company has a market capitalization of $11.70 billion, a PE ratio of 13.10, a P/E/G ratio of 0.74 and a beta of 0.90.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, July 30th. The technology company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.14. GoDaddy had a net margin of 17.83% and a return on equity of 660.96%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the firm posted $1.41 earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, sell-side analysts forecast that GoDaddy will post 7.18 EPS for the current year.

Insider Activity

In other news, CEO Amanpal Singh Bhutani sold 8,373 shares of GoDaddy stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total value of $752,397.78. Following the completion of the transaction, the chief executive officer directly owned 521,747 shares of the company’s stock, valued at approximately $46,884,185.42. This trade represents a 1.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sigal Zarmi sold 350 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $87.84, for a total transaction of $30,744.00. Following the transaction, the director directly owned 5,708 shares in the company, valued at approximately $501,390.72. This represents a 5.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 16,751 shares of company stock worth $1,480,228 over the last ninety days. Corporate insiders own 0.93% of the company’s stock.

Institutional Trading of GoDaddy

Several institutional investors and hedge funds have recently bought and sold shares of the company. WCM Investment Management LLC grew its position in GoDaddy by 1.0% during the first quarter. WCM Investment Management LLC now owns 3,314,456 shares of the technology company’s stock worth $270,924,000 after buying an additional 33,509 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of GoDaddy by 11.0% during the 4th quarter. JPMorgan Chase & Co. now owns 3,216,382 shares of the technology company’s stock worth $399,089,000 after acquiring an additional 319,515 shares during the period. AQR Capital Management LLC raised its position in shares of GoDaddy by 117.5% in the 4th quarter. AQR Capital Management LLC now owns 2,989,931 shares of the technology company’s stock worth $370,991,000 after acquiring an additional 1,615,005 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of GoDaddy by 2.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,821,379 shares of the technology company’s stock valued at $350,077,000 after purchasing an additional 56,086 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in GoDaddy by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,733,028 shares of the technology company’s stock worth $339,116,000 after purchasing an additional 235,981 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy News Roundup

Here are the key news stories impacting GoDaddy this week:

• Positive Sentiment: A bullish investment thesis describes GoDaddy as a resilient, cash-generative business with a sticky small-business customer base, bundled services, strong returns on invested capital and substantial share-buyback potential. The article argues that artificial-intelligence concerns are overstated and that the stock’s valuation does not reflect its free-cash-flow strength. GoDaddy: The Market Didn’t Get The Memo
• Positive Sentiment: Zacks highlighted GoDaddy as a strong growth stock through its Style Scores framework, adding to the favorable fundamental narrative surrounding the company. Here’s Why GoDaddy Is a Strong Growth Stock
• Neutral Sentiment: Wedbush reduced its price target from $109 to $93 but maintained an “Outperform” rating, signaling continued confidence in GoDaddy while acknowledging more limited upside. Raymond James also moved the stock to “Outperform,” while Cantor Fitzgerald, Evercore ISI and Wells Fargo maintained neutral or hold ratings. Wedbush Price Target Update
• Negative Sentiment: Kaplan Fox announced an investigation into potential securities-law violations involving GoDaddy and is soliciting investors who suffered losses or have relevant information. The announcement does not establish wrongdoing, but securities investigations can create legal, reputational and investor-confidence risks. Kaplan Fox GoDaddy Investigation

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.