GoDaddy (NYSE:GDDY) Receives Neutral Rating from Cantor Fitzgerald

GoDaddy (NYSE:GDDY)‘s stock had its “neutral” rating reissued by research analysts at Cantor Fitzgerald in a research note issued on Monday, Benzinga reports. They presently have a $170.00 price objective on the technology company’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 6.50% from the stock’s previous close.

Several other equities analysts also recently issued reports on GDDY. Royal Bank of Canada boosted 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. Citigroup boosted their price target on shares of GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Barclays lifted their price objective on shares of GoDaddy from $150.00 to $165.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. B. Riley increased their price objective on GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Finally, Benchmark upped their price objective 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. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $165.00.

GoDaddy Stock Down 0.6 %

NYSE GDDY traded down $0.93 on Monday, hitting $159.62. 141,318 shares of the stock traded hands, compared to its average volume of 1,547,866. 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 $22.78 billion, a P/E ratio of 13.26 and a beta of 1.13. GoDaddy has a twelve month low of $71.15 and a twelve month high of $167.65. The stock has a 50-day moving average of $154.36 and a 200 day moving average of $139.11.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data 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 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 revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 EPS. As a group, analysts expect that GoDaddy will post 5.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $152.17, for a total transaction of $152,170.00. Following the completion of the sale, the chief operating officer now directly owns 187,632 shares in the company, valued at $28,551,961.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other GoDaddy news, COO Roger Chen sold 1,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $152.17, for a total value of $152,170.00. Following the completion of the sale, the chief operating officer now directly owns 187,632 shares of the company’s stock, valued at approximately $28,551,961.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Nick Daddario sold 684 shares of GoDaddy stock in a transaction dated 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 directly owns 17,704 shares in the company, valued at $2,783,599.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,744 shares of company stock worth $4,816,386. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new stake in GoDaddy in the 4th quarter valued at $28,000. Transcendent Capital Group LLC acquired a new stake in GoDaddy in the 2nd quarter valued at about $28,000. GAMMA Investing LLC increased its holdings in shares of GoDaddy by 102.3% in the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after purchasing an additional 133 shares in the last quarter. ORG Partners LLC bought a new stake in shares of GoDaddy during the second quarter worth $32,000. Finally, International Assets Investment Management LLC bought a new stake in GoDaddy during the 2nd quarter worth about $36,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

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.