GoDaddy’s (GDDY) “Neutral” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of GoDaddy (NYSE:GDDY) in a research note released on Monday, Benzinga reports. Cantor Fitzgerald currently has a $170.00 price target on the technology company’s stock.

Several other equities research analysts have also recently issued reports on the company. B. Riley raised their price objective on GoDaddy from $143.00 to $170.00 and gave the stock a buy rating in a report on Friday, July 12th. Robert W. Baird raised their price objective on GoDaddy from $175.00 to $190.00 and gave the stock an outperform rating in a report on Friday, August 2nd. StockNews.com cut GoDaddy from a strong-buy rating to a buy rating in a report on Wednesday, August 7th. Royal Bank of Canada lifted their target price on GoDaddy from $145.00 to $175.00 and gave the company an outperform rating in a report on Monday, August 5th. Finally, Raymond James lifted their target price on GoDaddy from $150.00 to $175.00 and gave the company a strong-buy rating in a report on Friday, August 2nd. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $166.54.

GoDaddy Stock Performance

GoDaddy stock opened at $154.43 on Monday. GoDaddy has a fifty-two week low of $71.15 and a fifty-two week high of $167.65. The stock has a fifty day moving average of $156.28 and a two-hundred day moving average of $141.31. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market capitalization of $22.04 billion, a price-to-earnings ratio of 12.83 and a beta of 1.13.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business earned $0.63 EPS. GoDaddy’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, analysts anticipate that GoDaddy will post 5.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other GoDaddy news, CAO Nick Daddario sold 684 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction of $107,545.32. Following the transaction, the chief accounting officer now owns 17,704 shares in the company, valued at $2,783,599.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total transaction of $466,800.00. Following the sale, the chief executive officer now directly owns 348,956 shares of the company’s stock, valued at $54,297,553.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Nick Daddario sold 684 shares of GoDaddy stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total value of $107,545.32. Following the sale, the chief accounting officer now directly owns 17,704 shares in the company, valued at $2,783,599.92. The disclosure for this sale can be found here. Insiders have sold a total of 31,744 shares of company stock worth $4,950,771 over the last quarter. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of GoDaddy

A number of hedge funds and other institutional investors have recently modified their holdings of GDDY. Park Avenue Securities LLC increased its holdings in GoDaddy by 4.1% in the third quarter. Park Avenue Securities LLC now owns 7,910 shares of the technology company’s stock valued at $1,240,000 after buying an additional 310 shares during the last quarter. SG Americas Securities LLC increased its holdings in GoDaddy by 18.5% in the third quarter. SG Americas Securities LLC now owns 37,187 shares of the technology company’s stock valued at $5,830,000 after buying an additional 5,818 shares during the last quarter. Czech National Bank increased its holdings in GoDaddy by 6.9% in the third quarter. Czech National Bank now owns 28,701 shares of the technology company’s stock valued at $4,500,000 after buying an additional 1,848 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in GoDaddy in the second quarter valued at about $1,097,000. Finally, Cetera Investment Advisers increased its holdings in GoDaddy by 10.9% in the second quarter. Cetera Investment Advisers now owns 17,962 shares of the technology company’s stock valued at $2,509,000 after buying an additional 1,764 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

About GoDaddy

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.