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

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

GDDY has been the subject of several other reports. 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. Royal Bank of Canada upped their price target on GoDaddy from $145.00 to $175.00 and gave the stock an outperform rating in a research note on Monday, August 5th. Raymond James upped their price target on GoDaddy from $150.00 to $175.00 and gave the stock a strong-buy rating in a research note on Friday, August 2nd. StockNews.com lowered GoDaddy from a strong-buy rating to a buy rating in a research note on Wednesday, August 7th. Finally, Piper Sandler reaffirmed a neutral rating and issued a $172.00 target price (up previously from $160.00) on shares of GoDaddy in a research report on Monday, September 23rd. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $166.54.

GoDaddy Stock Performance

GoDaddy stock opened at $154.94 on Monday. The firm has a market capitalization of $22.11 billion, a P/E ratio of 12.82 and a beta of 1.13. The stock has a fifty day moving average price of $155.82 and a 200 day moving average price of $141.12. GoDaddy has a 52 week low of $71.15 and a 52 week 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.

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). The business 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 business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 earnings per share. Equities research analysts anticipate that GoDaddy will post 5.06 earnings per share for the current year.

Insider Activity at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy 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 owns 362,398 shares in the company, valued at approximately $53,084,059.04. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total transaction of $906,125.00. Following the sale, the chief financial officer now owns 101,286 shares in the company, valued at $16,686,868.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $146.48, for a total transaction of $439,440.00. Following the completion of the transaction, the chief executive officer now directly owns 362,398 shares in the company, valued at approximately $53,084,059.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,244 shares of company stock valued at $3,628,171. Insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Transcendent Capital Group LLC acquired a new stake in shares of GoDaddy during the 2nd quarter worth approximately $28,000. ORG Partners LLC bought a new position in GoDaddy in the 2nd quarter worth approximately $32,000. V Square Quantitative Management LLC bought a new position in GoDaddy in the 4th quarter worth approximately $28,000. International Assets Investment Management LLC bought a new position in GoDaddy in the 2nd quarter worth approximately $36,000. Finally, GAMMA Investing LLC grew its holdings in GoDaddy by 102.3% in the 1st 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. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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.