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

Cantor Fitzgerald reissued their neutral rating on shares of GoDaddy (NYSE:GDDY) in a research report released on Monday morning, Benzinga reports. The firm currently has a $170.00 price objective on the technology company’s stock.

A number of other brokerages have also recently issued reports on GDDY. Benchmark upped their target price on GoDaddy from $170.00 to $186.00 and gave the company a buy rating in a research report on Monday, August 26th. Barclays increased their price objective on GoDaddy from $165.00 to $185.00 and gave the stock an overweight rating in a research report on Wednesday, September 25th. Robert W. Baird increased their price objective on GoDaddy from $175.00 to $190.00 and gave the stock an outperform rating in a research report on Friday, August 2nd. Royal Bank of Canada increased their price objective on GoDaddy from $145.00 to $175.00 and gave the stock an outperform rating in a research report on Monday, August 5th. Finally, Piper Sandler reaffirmed a neutral rating and set a $172.00 price objective (up from $160.00) on shares of GoDaddy in a research report on Monday, September 23rd. Six equities research 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 company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $166.54.

GoDaddy Trading Down 0.3 %

GDDY opened at $154.43 on Monday. GoDaddy has a one year low of $71.15 and a one year high of $167.65. The company has a market cap of $22.04 billion, a P/E ratio of 12.83 and a beta of 1.13. 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 business’s 50-day simple moving average is $156.28 and its 200-day simple moving average is $141.31.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share. As a group, equities research analysts expect that GoDaddy will post 5.06 EPS for the current fiscal year.

Insider Activity

In related news, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the transaction, the director now directly owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total value of $439,440.00. Following the completion of the transaction, the chief executive officer now directly owns 362,398 shares of the company’s stock, valued at approximately $53,084,059.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the transaction, the director now directly owns 4,661 shares of the company’s stock, valued at $734,620.21. The disclosure for this sale can be found here. Insiders sold 31,744 shares of company stock valued at $4,950,771 in the last three months. 0.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GoDaddy

Several hedge funds have recently bought and sold shares of GDDY. V Square Quantitative Management LLC purchased a new position in GoDaddy in the 4th quarter valued at approximately $28,000. Transcendent Capital Group LLC purchased a new position in GoDaddy during the second quarter worth $28,000. GAMMA Investing LLC increased its position in GoDaddy by 102.3% during the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after buying an additional 133 shares in the last quarter. ORG Partners LLC purchased a new position in GoDaddy during the second quarter worth $32,000. Finally, International Assets Investment Management LLC purchased a new position in GoDaddy during the second quarter worth $36,000. 90.28% of the stock is owned by hedge funds and other 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.