Cantor Fitzgerald Reiterates “Neutral” Rating for GoDaddy (NYSE:GDDY)

GoDaddy (NYSE:GDDY)‘s stock had its “neutral” rating reissued by Cantor Fitzgerald in a research note issued on Monday, Benzinga reports. They presently have a $170.00 target price on the technology company’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 11.00% from the company’s previous close.

Several other research firms have also commented on GDDY. Piper Sandler reaffirmed a “neutral” rating and set a $172.00 price target (up previously from $160.00) on shares of GoDaddy in a research report on Monday, September 23rd. Royal Bank of Canada lifted 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. B. Riley increased their price target 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. Raymond James lifted their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Benchmark increased their target price on shares of GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $166.54.

GoDaddy Stock Down 2.3 %

Shares of NYSE:GDDY opened at $153.16 on Monday. The firm has a 50 day simple moving average of $155.72 and a 200-day simple moving average of $140.87. GoDaddy has a twelve month low of $71.15 and a twelve month high of $167.65. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. The company has a market capitalization of $21.85 billion, a PE ratio of 13.02 and a beta of 1.13.

GoDaddy (NYSE:GDDY) last announced its quarterly 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). The company 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%. GoDaddy’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $0.63 earnings per share. On average, equities analysts predict 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 company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the transaction, the director now owns 4,661 shares of the company’s stock, valued at $734,620.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction that occurred 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 directly owns 4,661 shares in the company, valued at approximately $734,620.21. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’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 sale, the chief executive officer now owns 362,398 shares in the company, valued at approximately $53,084,059.04. The disclosure for this sale can be found here. Insiders sold 23,244 shares of company stock valued at $3,628,171 in the last three months. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GoDaddy

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in GoDaddy by 2.6% during the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after acquiring an additional 379,228 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in GoDaddy by 94.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after buying an additional 1,775,708 shares in the last quarter. Federated Hermes Inc. grew its holdings in GoDaddy by 35.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after buying an additional 394,399 shares during the last quarter. Goldman Sachs Group Inc. increased its position in GoDaddy by 13.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 905,858 shares of the technology company’s stock worth $96,166,000 after buying an additional 110,076 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of GoDaddy by 37.7% in the second quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock worth $120,305,000 after acquiring an additional 235,934 shares during the last quarter. 90.28% of the stock is currently 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.