Benchmark Lowers GoDaddy (NYSE:GDDY) Price Target to $210.00

GoDaddy (NYSE:GDDY) had its price objective reduced by equities researchers at Benchmark from $240.00 to $210.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Benchmark’s price target indicates a potential upside of 135.24% from the company’s current price.

Several other equities analysts also recently commented on GDDY. Evercore decreased their target price on GoDaddy from $180.00 to $145.00 and set an “in-line” rating on the stock in a research report on Friday, October 31st. Cantor Fitzgerald dropped their target price on GoDaddy from $150.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Royal Bank Of Canada set a $70.00 price target on shares of GoDaddy in a research note on Wednesday, January 7th. Raymond James Financial reiterated a “strong-buy” rating on shares of GoDaddy in a research note on Friday, October 31st. Finally, UBS Group cut their price objective on shares of GoDaddy from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, GoDaddy has an average rating of “Moderate Buy” and an average target price of $164.07.

GoDaddy Stock Performance

NYSE GDDY opened at $89.27 on Monday. The stock has a market cap of $12.06 billion, a PE ratio of 15.42, a P/E/G ratio of 0.82 and a beta of 0.94. 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 50-day moving average of $108.75 and a 200-day moving average of $126.57. GoDaddy has a 52-week low of $87.13 and a 52-week high of $193.55.

Insider Activity at GoDaddy

In other GoDaddy news, CAO Phontip Palitwanon sold 2,397 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were 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 directly owned 17,055 shares in the company, valued at $2,190,544.20. The trade was a 12.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Mccaffrey sold 3,317 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total value of $424,376.98. Following the transaction, the chief financial officer directly 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 disclosure for this sale is available in the SEC filing. Insiders have sold 13,615 shares of company stock valued at $1,743,102 over the last three months. 0.70% of the stock is owned by insiders.

Institutional Trading of GoDaddy

A number of hedge funds have recently made changes to their positions in the company. NewSquare Capital LLC grew its holdings in GoDaddy by 170.9% during the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after acquiring an additional 94 shares during the last quarter. Hemington Wealth Management raised its stake in GoDaddy by 85.9% during the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after buying an additional 85 shares during the last quarter. Rachor Investment Advisory Services LLC acquired a new position in shares of GoDaddy in the 4th quarter valued at about $25,000. Activest Wealth Management boosted its position in shares of GoDaddy by 6,600.0% during the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after purchasing an additional 198 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of GoDaddy during the 4th quarter worth approximately $25,000. 90.28% of the stock is owned by institutional investors and hedge funds.

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.