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

GoDaddy (NYSE:GDDY)‘s stock had its “neutral” rating reaffirmed by Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $170.00 price target on the technology company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 6.18% from the company’s current price.

A number of other analysts have also recently commented on the company. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. B. Riley increased their target price on shares of GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Benchmark lifted their price target on shares of GoDaddy from $170.00 to $186.00 and gave the company a “buy” rating in a report on Monday, August 26th. Barclays upped their price target on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, Piper Sandler restated 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 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’s stock. According to MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and an average price target of $166.54.

GoDaddy Stock Performance

GDDY opened at $160.10 on Monday. GoDaddy has a 12-month low of $71.15 and a 12-month high of $167.65. The company has a market cap of $22.84 billion, a price-to-earnings ratio of 13.30 and a beta of 1.12. 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’s 50 day moving average is $157.09 and its 200 day moving average is $142.40.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.06). The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 EPS. On average, equities research analysts predict that GoDaddy will post 5.06 EPS for the current year.

Insider Activity

In other GoDaddy news, CAO Nick Daddario sold 684 shares of GoDaddy stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total value of $107,545.32. Following the sale, the chief accounting officer now owns 17,704 shares of the company’s stock, valued at $2,783,599.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other GoDaddy news, CAO Nick Daddario sold 684 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total transaction of $107,545.32. Following the completion of the transaction, the chief accounting officer now owns 17,704 shares in the company, valued at $2,783,599.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the completion of the sale, the chief financial officer now owns 101,286 shares in the company, valued at approximately $16,686,868.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,744 shares of company stock worth $4,950,771 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Several institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its position in GoDaddy by 94.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after buying an additional 1,775,708 shares during the last quarter. Kodai Capital Management LP bought a new stake in shares of GoDaddy in the 1st quarter worth about $75,855,000. Federated Hermes Inc. boosted its stake in shares of GoDaddy by 35.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after purchasing an additional 394,399 shares during the period. Vanguard Group Inc. raised its position in GoDaddy by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after purchasing an additional 379,228 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in GoDaddy by 676.1% in the first quarter. Acadian Asset Management LLC now owns 347,074 shares of the technology company’s stock worth $41,181,000 after purchasing an additional 302,352 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

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.