Citigroup Issues Pessimistic Forecast for GoDaddy (NYSE:GDDY) Stock Price

GoDaddy (NYSE:GDDY) had its price target decreased by equities research analysts at Citigroup from $214.00 to $195.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Citigroup’s target price would suggest a potential upside of 46.23% from the stock’s previous close.

A number of other brokerages also recently issued reports on GDDY. UBS Group lowered their price target on shares of GoDaddy from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday. Raymond James Financial reissued a “strong-buy” rating on shares of GoDaddy in a research note on Friday. Barclays dropped their target price on GoDaddy from $235.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Wells Fargo & Company reduced their price target on GoDaddy from $157.00 to $145.00 and set an “equal weight” rating for the company in a report on Monday, October 6th. Finally, Morgan Stanley set a $159.00 price objective on GoDaddy in a report on Friday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and a consensus target price of $184.07.

GoDaddy Stock Up 5.2%

Shares of GDDY opened at $133.35 on Friday. The company has a market capitalization of $18.46 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 1.36 and a beta of 0.98. GoDaddy has a 52 week low of $125.00 and a 52 week high of $216.00. The stock’s 50-day moving average price is $139.06 and its 200-day moving average price is $160.67. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 9.33.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%.The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the company posted $1.32 earnings per share. GoDaddy’s revenue for the quarter was up 10.3% on a year-over-year basis. GoDaddy has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, sell-side analysts predict that GoDaddy will post 6.63 EPS for the current year.

Insider Activity

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 6,000 shares of GoDaddy stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $150.00, for a total value of $900,000.00. Following the sale, the chief executive officer owned 406,065 shares in the company, valued at $60,909,750. The trade was a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $136.57, for a total transaction of $68,285.00. Following the completion of the sale, the director owned 20,457 shares in the company, valued at approximately $2,793,812.49. This trade represents a 2.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 20,703 shares of company stock valued at $2,994,243 in the last quarter. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Several large investors have recently made changes to their positions in the stock. GDS Wealth Management boosted its position in shares of GoDaddy by 14.4% during the 3rd quarter. GDS Wealth Management now owns 68,577 shares of the technology company’s stock worth $9,383,000 after purchasing an additional 8,637 shares during the period. Y Intercept Hong Kong Ltd lifted its stake in GoDaddy by 145.7% during the third quarter. Y Intercept Hong Kong Ltd now owns 76,199 shares of the technology company’s stock worth $10,426,000 after purchasing an additional 45,190 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in GoDaddy by 6.2% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 307,884 shares of the technology company’s stock worth $42,128,000 after purchasing an additional 17,985 shares in the last quarter. UniSuper Management Pty Ltd boosted its position in shares of GoDaddy by 5.2% during the third quarter. UniSuper Management Pty Ltd now owns 35,155 shares of the technology company’s stock worth $4,810,000 after buying an additional 1,725 shares during the period. Finally, Birch Financial Group LLC grew its stake in shares of GoDaddy by 17.3% in the third quarter. Birch Financial Group LLC now owns 1,703 shares of the technology company’s stock valued at $233,000 after buying an additional 251 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Company Profile

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.