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

Cantor Fitzgerald reaffirmed their neutral rating on shares of GoDaddy (NYSE:GDDY) in a research note issued to investors on Monday, Benzinga reports. They currently have a $170.00 price objective on the technology company’s stock.

GDDY has been the subject of several other research reports. B. Riley upped their price target on shares of GoDaddy from $143.00 to $170.00 and gave the company a buy rating in a research report on Friday, July 12th. Robert W. Baird upped their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an outperform rating in a research report on Friday, August 2nd. Barclays upped their price target on shares of GoDaddy from $165.00 to $185.00 and gave the company an overweight rating in a research report on Wednesday, September 25th. StockNews.com lowered shares of GoDaddy from a strong-buy rating to a buy rating in a research report on Wednesday, August 7th. Finally, Raymond James upped their price target on shares of GoDaddy from $150.00 to $175.00 and gave the company a strong-buy rating in a research report on Friday, August 2nd. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $166.54.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $162.10 on Monday. GoDaddy has a fifty-two week low of $71.15 and a fifty-two week high of $167.65. The business has a 50-day simple moving average of $157.82 and a two-hundred day simple moving average of $142.66. 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 firm has a market cap of $22.85 billion, a price-to-earnings ratio of 12.96 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the firm posted $0.63 EPS. GoDaddy’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, analysts expect that GoDaddy will post 5.07 earnings per share for the current year.

Insiders Place Their Bets

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total value of $855,800.00. Following the completion of the transaction, the chief financial officer now directly owns 93,102 shares in the company, valued at $14,486,671.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total transaction of $855,800.00. Following the completion of the transaction, the chief financial officer now directly owns 93,102 shares in the company, valued at approximately $14,486,671.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Nick Daddario sold 684 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total value of $107,545.32. Following the completion of the sale, the chief accounting officer now owns 17,704 shares of the company’s stock, valued at approximately $2,783,599.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,744 shares of company stock worth $4,950,771 in the last three months. 0.61% of the stock is owned by company insiders.

Institutional Trading of GoDaddy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Transcendent Capital Group LLC bought a new stake in shares of GoDaddy in the second quarter valued at about $28,000. ORG Partners LLC bought a new stake in shares of GoDaddy in the 2nd quarter valued at about $32,000. V Square Quantitative Management LLC purchased a new stake in shares of GoDaddy in the 4th quarter worth approximately $28,000. International Assets Investment Management LLC bought a new position in shares of GoDaddy during the second quarter valued at approximately $36,000. Finally, GAMMA Investing LLC increased its holdings in GoDaddy by 102.3% during the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after buying an additional 133 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

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.