Wells Fargo & Company Cuts GoDaddy (NYSE:GDDY) Price Target to $77.00

GoDaddy (NYSE:GDDY) had its target price trimmed by Wells Fargo & Company from $145.00 to $77.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.

A number of other equities analysts have also recently weighed in on GDDY. B. Riley Financial lowered their price target on GoDaddy from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, October 31st. JPMorgan Chase & Co. decreased their target price on shares of GoDaddy from $222.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Benchmark dropped their price target on shares of GoDaddy from $240.00 to $210.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Jefferies Financial Group reduced their price target on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Royal Bank Of Canada set a $70.00 price objective on shares of GoDaddy in a report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $131.93.

GoDaddy Stock Performance

GoDaddy stock opened at $86.97 on Wednesday. The firm has a 50 day simple moving average of $104.84 and a 200-day simple moving average of $124.90. The stock has a market cap of $11.75 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 0.79 and a beta of 0.94. The company has a debt-to-equity ratio of 17.50, a current ratio of 0.61 and a quick ratio of 0.57. GoDaddy has a 1-year low of $73.06 and a 1-year high of $193.55.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Tuesday, February 24th. The technology company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.22. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. GoDaddy had a return on equity of 369.00% and a net margin of 17.67%.The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 earnings per share. On average, analysts expect that GoDaddy will post 6.63 EPS for the current year.

Insider Activity

In other GoDaddy news, CFO Mark Mccaffrey sold 3,317 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $424,376.98. Following the completion of the transaction, the chief financial officer owned 66,816 shares of the company’s stock, valued at $8,548,439.04. This trade represents a 4.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Phontip Palitwanon sold 2,397 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $128.44, for a total transaction of $307,870.68. Following the completion of the transaction, the chief accounting officer owned 17,055 shares of the company’s stock, valued at approximately $2,190,544.20. This trade represents a 12.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 13,615 shares of company stock valued at $1,743,102. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GoDaddy

Several large investors have recently bought and sold shares of the stock. Hemington Wealth Management raised its position in GoDaddy by 85.9% in the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after purchasing an additional 85 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in shares of GoDaddy by 4.8% during the third quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company’s stock worth $258,000 after buying an additional 86 shares during the period. Penserra Capital Management LLC raised its holdings in GoDaddy by 14.0% in the second quarter. Penserra Capital Management LLC now owns 748 shares of the technology company’s stock valued at $134,000 after acquiring an additional 92 shares in the last quarter. NewSquare Capital LLC increased its position in shares of GoDaddy by 170.9% in the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock valued at $27,000 after purchasing an additional 94 shares during the last quarter. Finally, MAI Capital Management lifted its position in shares of GoDaddy by 9.7% during the 2nd quarter. MAI Capital Management now owns 1,127 shares of the technology company’s stock worth $203,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Key Headlines Impacting GoDaddy

Here are the key news stories impacting GoDaddy this week:

• Positive Sentiment: Benchmark kept a Buy rating and set a $210 price target, signaling at least one major analyst still sees material upside vs. current levels. Benchmark Cuts GoDaddy Price Target
• Neutral Sentiment: Citigroup lowered its target from $195 to $110 but maintained a Buy — a notable downgrade in expectations but not in conviction. Citigroup price target note
• Neutral Sentiment: Barclays trimmed its price target to $118 while keeping an Overweight rating, another mixed signal (lower PT but still constructive). Barclays price target cut
• Negative Sentiment: Multiple sell?side targets were cut sharply (Wells Fargo $77, UBS $105, Cantor Fitzgerald $90, RBC $100), adding downward pressure on sentiment and indicating lowered earnings/valuation expectations. Wells Fargo PT to $77 UBS PT to $105 Cantor PT $90 RBC PT $100
• Negative Sentiment: Several law firms have launched securities?fraud investigations into GoDaddy related to the Feb. 24 results, creating legal overhang and potential disclosure/legal costs that increase near?term risk. Glancy Prongay Wolke & Rotter investigation Frank R. Cruz investigation
• Negative Sentiment: Media coverage flagged that the stock hit a two?year low and “gapped down” after analyst downgrades and earnings?related concerns, underscoring weak investor sentiment following the quarter. InsiderMonkey: two?year low Shares gap down article

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.