GoDaddy (NYSE:GDDY) Stock Rating Reaffirmed by Cantor Fitzgerald

GoDaddy (NYSE:GDDY)‘s stock had its “neutral” rating restated by research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $170.00 price objective on the technology company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 7.74% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. Robert W. Baird increased their target price on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Piper Sandler reaffirmed a “neutral” rating and issued a $172.00 price objective (up previously from $160.00) on shares of GoDaddy in a research report on Monday. Raymond James boosted their target price on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada raised their price target on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, Benchmark boosted their price objective on shares of GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, August 26th. 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 stock. Based on data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and a consensus price target of $165.00.

GoDaddy Stock Performance

Shares of GDDY opened at $157.78 on Monday. The company has a market capitalization of $22.51 billion, a PE ratio of 13.10 and a beta of 1.13. GoDaddy has a 52-week low of $71.15 and a 52-week high of $167.65. The company has a 50-day simple moving average of $154.79 and a 200-day simple moving average of $139.74. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13.

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

Insider Buying and Selling at GoDaddy

In related news, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the transaction, the director now directly owns 4,661 shares in the company, valued at $734,620.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Sigal Zarmi sold 400 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the sale, the director now owns 4,661 shares in the company, valued at $734,620.21. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.79, for a total value of $559,160.00. Following the completion of the transaction, the chief operating officer now owns 192,632 shares of the company’s stock, valued at $26,928,027.28. The disclosure for this sale can be found here. Insiders have sold 31,744 shares of company stock worth $4,816,386 over the last quarter. 0.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GDDY. Whittier Trust Co. grew its position in GoDaddy by 4.3% in the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock worth $249,000 after purchasing an additional 74 shares during the last quarter. Gulf International Bank UK Ltd grew its holdings in GoDaddy by 0.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 12,030 shares of the technology company’s stock worth $1,427,000 after buying an additional 113 shares in the last quarter. Sivia Capital Partners LLC increased its position in GoDaddy by 3.9% in the 1st quarter. Sivia Capital Partners LLC now owns 3,023 shares of the technology company’s stock valued at $359,000 after acquiring an additional 113 shares during the period. GAMMA Investing LLC raised its stake in GoDaddy by 102.3% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after acquiring an additional 133 shares in the last quarter. Finally, Signaturefd LLC boosted its position in GoDaddy by 6.3% during the 2nd quarter. Signaturefd LLC now owns 2,480 shares of the technology company’s stock worth $346,000 after acquiring an additional 148 shares during the period. 90.28% of the stock is currently owned by institutional investors.

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.