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

GoDaddy (NYSE:GDDY) had its price target lowered by Benchmark from $240.00 to $210.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Benchmark’s price target points to a potential upside of 135.24% from the company’s current price.

Several other equities research analysts have also recently commented on GDDY. Evercore lowered their price target on shares of GoDaddy from $180.00 to $145.00 and set an “in-line” rating for the company in a research report on Friday, October 31st. Jefferies Financial Group reiterated a “hold” rating on shares of GoDaddy in a research report on Monday. JPMorgan Chase & Co. reduced their price target on GoDaddy from $222.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of GoDaddy in a report on Wednesday, January 28th. Finally, Cantor Fitzgerald reduced their target price on GoDaddy from $150.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $164.07.

GoDaddy Stock Up 0.7%

GoDaddy stock opened at $89.27 on Monday. The firm’s fifty day simple moving average is $108.75 and its 200-day simple moving average is $126.57. The company has a market capitalization of $12.06 billion, a P/E ratio of 15.42, a P/E/G ratio of 0.82 and a beta of 0.94. GoDaddy has a 1-year low of $87.13 and a 1-year high of $193.55. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06.

Insiders Place Their Bets

In related news, CFO Mark Mccaffrey sold 3,317 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total transaction of $424,376.98. Following the completion of the transaction, the chief financial officer owned 66,816 shares in the company, valued at approximately $8,548,439.04. This represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Phontip Palitwanon sold 2,397 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $128.44, for a total value of $307,870.68. Following the transaction, the chief accounting officer directly owned 17,055 shares of the company’s stock, valued at $2,190,544.20. This trade represents a 12.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 13,615 shares of company stock worth $1,743,102. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Several large investors have recently made changes to their positions in the stock. NewSquare Capital LLC increased its holdings in GoDaddy by 170.9% during the second quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after buying an additional 94 shares during the last quarter. Hemington Wealth Management raised its holdings in shares of 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 during the period. Rachor Investment Advisory Services LLC acquired a new stake in GoDaddy in the 4th quarter valued at about $25,000. Activest Wealth Management lifted its stake in GoDaddy by 6,600.0% in 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 during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in GoDaddy during the fourth quarter worth approximately $25,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

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.