GoDaddy (NYSE:GDDY) Given Neutral Rating at Cantor Fitzgerald

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

A number of other analysts have also recently issued reports on the stock. Benchmark lifted their target price on shares of GoDaddy from $170.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Citigroup increased their price target on GoDaddy from $150.00 to $165.00 and gave the company a “buy” rating in a report on Friday, May 31st. B. Riley boosted their price objective on shares of GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Robert W. Baird raised their target price on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $172.00 price target (up from $160.00) on shares of GoDaddy in a research report on Monday. Six equities 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. Based on data from MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.00.

GoDaddy Trading Down 0.5 %

GoDaddy stock opened at $157.78 on Monday. GoDaddy has a 12-month low of $71.15 and a 12-month high of $167.65. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market capitalization of $22.51 billion, a PE ratio of 13.10 and a beta of 1.13. The firm has a 50 day simple moving average of $154.79 and a 200-day simple moving average of $139.74.

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). The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. GoDaddy’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 EPS. As a group, equities research analysts expect that GoDaddy will post 5.06 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Amanpal Singh Bhutani sold 4,500 shares of GoDaddy stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $629,055.00. Following the sale, the chief executive officer now directly owns 365,398 shares in the company, valued at approximately $51,078,986.42. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Amanpal Singh Bhutani sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.79, for a total transaction of $629,055.00. Following the completion of the transaction, the chief executive officer now owns 365,398 shares in the company, valued at approximately $51,078,986.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction 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 sale, the chief operating officer now directly owns 192,632 shares in the company, valued at approximately $26,928,027.28. The disclosure for this sale can be found here. Insiders sold a total of 31,744 shares of company stock valued at $4,816,386 over the last ninety days. 0.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On GoDaddy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new stake in GoDaddy during the 2nd quarter worth approximately $28,000. ORG Partners LLC bought a new stake in GoDaddy during the 2nd quarter worth about $32,000. V Square Quantitative Management LLC acquired a new stake in GoDaddy in the 4th quarter valued at about $28,000. International Assets Investment Management LLC bought a new position in GoDaddy in the 2nd quarter valued at $36,000. Finally, GAMMA Investing LLC lifted its stake in shares of 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 acquiring an additional 133 shares during the period. 90.28% of the stock is currently 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.