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

GoDaddy (NYSE:GDDY)‘s stock had its “neutral” rating reiterated by investment analysts at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They currently have a $170.00 target price on the technology company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 11.00% from the company’s current price.

A number of other research firms also recently issued reports on GDDY. Royal Bank of Canada boosted their target price on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Robert W. Baird upped 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. Barclays upped their price target on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Finally, B. Riley lifted their price objective on GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $166.54.

GoDaddy Trading Down 2.3 %

Shares of GDDY opened at $153.16 on Monday. GoDaddy has a fifty-two week low of $71.15 and a fifty-two week high of $167.65. The company has a market capitalization of $21.85 billion, a PE ratio of 13.02 and a beta of 1.13. The stock has a fifty day moving average of $155.72 and a two-hundred day moving average of $140.87. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48.

GoDaddy (NYSE:GDDY) last released its 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 previous year, the company posted $0.63 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, analysts forecast that GoDaddy will post 5.06 EPS for the current year.

Insider Activity at GoDaddy

In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the completion of the sale, the director now owns 4,661 shares in the company, valued at $734,620.21. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Nick Daddario sold 684 shares of GoDaddy stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 completion of the transaction, the director now owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. The disclosure for this sale can be found here. Insiders sold a total of 23,244 shares of company stock valued at $3,628,171 over the last three months. 0.61% of the stock is owned by insiders.

Institutional Trading of GoDaddy

A number of institutional investors have recently made changes to their positions in GDDY. V Square Quantitative Management LLC bought a new stake in GoDaddy in the fourth quarter worth about $28,000. Transcendent Capital Group LLC purchased a new stake in shares of GoDaddy during the second quarter valued at $28,000. GAMMA Investing LLC boosted its position in shares of GoDaddy by 102.3% in the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after purchasing an additional 133 shares during the period. ORG Partners LLC purchased a new position in GoDaddy in the 2nd quarter worth about $32,000. Finally, International Assets Investment Management LLC acquired a new stake in GoDaddy during the 2nd quarter worth about $36,000. 90.28% of the stock is 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.