GoDaddy (NYSE:GDDY) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of GoDaddy (NYSE:GDDY) in a research report report published on Thursday morning, MarketBeat.com reports. The firm issued a neutral rating and a $170.00 price objective on the technology company’s stock.

A number of other brokerages have also recently commented on GDDY. JPMorgan Chase & Co. lifted their target price on shares of GoDaddy from $136.00 to $175.00 and gave the company an overweight rating in a report on Wednesday, May 29th. Raymond James upped their target price on shares of GoDaddy from $150.00 to $175.00 and gave the company a strong-buy rating in a report on Friday, August 2nd. B. Riley raised their price target on GoDaddy from $143.00 to $170.00 and gave the stock a buy rating in a report on Friday, July 12th. Citigroup upped their price objective on GoDaddy from $150.00 to $165.00 and gave the company a buy rating in a research note on Friday, May 31st. Finally, Piper Sandler lifted their target price on GoDaddy from $145.00 to $160.00 and gave the company an overweight rating in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $164.08.

GoDaddy Price Performance

Shares of GDDY opened at $150.00 on Thursday. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. GoDaddy has a 1-year low of $71.15 and a 1-year high of $167.65. The stock has a market cap of $21.40 billion, a PE ratio of 12.46 and a beta of 1.13. The firm has a fifty day moving average price of $152.27 and a 200 day moving average price of $135.83.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.06). The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 earnings per share. As a group, sell-side analysts anticipate that GoDaddy will post 4.89 EPS for the current year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 2,684 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total transaction of $422,005.32. Following the transaction, the chief financial officer now directly owns 98,602 shares in the company, valued at $15,503,192.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Mark Mccaffrey sold 2,684 shares of GoDaddy stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction of $422,005.32. Following the completion of the transaction, the chief financial officer now directly owns 98,602 shares of the company’s stock, valued at $15,503,192.46. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total value of $500,730.00. Following the completion of the sale, the chief executive officer now directly owns 358,773 shares in the company, valued at approximately $59,882,801.43. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,368 shares of company stock valued at $4,439,167. 0.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On GoDaddy

Hedge funds have recently added to or reduced their stakes in the business. Transcendent Capital Group LLC purchased a new position in shares of GoDaddy during the 2nd quarter worth approximately $28,000. ORG Partners LLC acquired a new position in shares of GoDaddy in the second quarter worth $32,000. V Square Quantitative Management LLC purchased a new stake in shares of GoDaddy in the fourth quarter valued at $28,000. International Assets Investment Management LLC acquired a new stake in shares of GoDaddy during the second quarter valued at $36,000. Finally, GAMMA Investing LLC increased its position in GoDaddy by 102.3% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after purchasing an additional 133 shares in the last quarter. 90.28% of the stock is currently 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.