GoDaddy Inc. (NYSE:GDDY – Get Rating)’s stock price gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $72.29, but opened at $67.44. GoDaddy shares last traded at $71.60, with a volume of 367,434 shares traded.
The technology company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.22). The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.04 billion. GoDaddy had a net margin of 8.61% and a negative return on equity of 93.48%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.41 EPS.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the company. Jefferies Financial Group lowered GoDaddy from a “buy” rating to a “hold” rating and set a $80.00 price objective for the company. in a research report on Monday, January 9th. Raymond James lifted their price target on GoDaddy from $88.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, February 15th. Evercore ISI upgraded GoDaddy from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $86.00 to $103.00 in a research note on Wednesday, January 18th. StockNews.com began coverage on shares of GoDaddy in a report on Thursday, March 16th. They issued a “buy” rating on the stock. Finally, Robert W. Baird began coverage on shares of GoDaddy in a report on Tuesday, April 11th. They issued an “outperform” rating and a $95.00 price target on the stock. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $93.10.
Insiders Place Their Bets
In other GoDaddy news, CEO Amanpal Singh Bhutani sold 1,987 shares of the stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $77.41, for a total transaction of $153,813.67. Following the sale, the chief executive officer now owns 278,258 shares in the company, valued at $21,539,951.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Amanpal Singh Bhutani sold 1,987 shares of the stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $77.41, for a total value of $153,813.67. Following the sale, the chief executive officer now owns 278,258 shares in the company, valued at $21,539,951.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Mccaffrey sold 3,247 shares of the stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $74.96, for a total value of $243,395.12. Following the completion of the sale, the chief financial officer now owns 99,106 shares in the company, valued at approximately $7,428,985.76. The disclosure for this sale can be found here. Insiders have sold a total of 24,952 shares of company stock worth $1,896,352 over the last 90 days. Corporate insiders own 0.37% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in GDDY. Achmea Investment Management B.V. bought a new position in shares of GoDaddy during the first quarter valued at about $31,000. Wipfli Financial Advisors LLC purchased a new position in shares of GoDaddy during the third quarter valued at approximately $33,000. Allworth Financial LP increased its position in shares of GoDaddy by 56.7% during the fourth quarter. Allworth Financial LP now owns 456 shares of the technology company’s stock valued at $34,000 after acquiring an additional 165 shares in the last quarter. Cullen Frost Bankers Inc. increased its position in shares of GoDaddy by 152.5% during the third quarter. Cullen Frost Bankers Inc. now owns 505 shares of the technology company’s stock valued at $36,000 after acquiring an additional 305 shares in the last quarter. Finally, Ronald Blue Trust Inc. increased its position in shares of GoDaddy by 119.4% during the first quarter. Ronald Blue Trust Inc. now owns 509 shares of the technology company’s stock valued at $38,000 after acquiring an additional 277 shares in the last quarter. Institutional investors own 97.32% of the company’s stock.
GoDaddy Stock Performance
The firm has a market cap of $10.94 billion, a P/E ratio of 32.86, a P/E/G ratio of 1.86 and a beta of 0.98. The business’s 50-day simple moving average is $75.35 and its 200 day simple moving average is $76.18.
GoDaddy Company Profile
GoDaddy, Inc engages in the provision of domain name registration and web hosting services. It provides website building, hosting, and security tools. It operates through the Applications and Commerce (A and C) and Core Platform (Core) segments. The A and C segment consists of sales of products containing proprietary software, commerce products and third-party email and productivity solutions.