GoDaddy (NYSE:GDDY) Now Covered by Analysts at Cantor Fitzgerald

Equities researchers at Cantor Fitzgerald assumed coverage on shares of GoDaddy (NYSE:GDDY) in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage set a “neutral” rating and a $170.00 price target on the technology company’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 13.36% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on GDDY. JPMorgan Chase & Co. upped their price objective on shares of GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. Barclays upped their price objective on shares of GoDaddy from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Raymond James upped their price target on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Robert W. Baird upped their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Citigroup upped their price objective on shares of GoDaddy from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.08.

GoDaddy Trading Down 2.0 %

GoDaddy stock opened at $149.97 on Thursday. The company’s fifty day simple moving average is $152.06 and its 200-day simple moving average is $135.56. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13. GoDaddy has a 12 month low of $71.15 and a 12 month high of $167.65. The stock has a market cap of $21.40 billion, a P/E ratio of 12.49 and a beta of 1.14.

GoDaddy (NYSE:GDDY) last posted its quarterly 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 company had revenue of $1.12 billion for 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%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share. As a group, sell-side analysts forecast that GoDaddy will post 4.89 EPS for the current fiscal year.

Insider Activity at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 4,500 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.79, for a total transaction of $629,055.00. Following the completion of the transaction, the chief executive officer now directly owns 365,398 shares in the company, valued at $51,078,986.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Amanpal Singh Bhutani sold 4,500 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $139.79, for a total value of $629,055.00. Following the sale, the chief executive officer now owns 365,398 shares of the company’s stock, valued at approximately $51,078,986.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $139.79, for a total transaction of $559,160.00. Following the completion of the sale, the chief operating officer now directly owns 192,632 shares in the company, valued at approximately $26,928,027.28. The disclosure for this sale can be found here. Insiders have sold a total of 29,368 shares of company stock valued at $4,439,167 in the last 90 days. 0.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GoDaddy

Large investors have recently made changes to their positions in the company. Transcendent Capital Group LLC bought a new stake in shares of GoDaddy in the 2nd quarter worth about $28,000. ORG Partners LLC bought a new stake in GoDaddy during the 2nd quarter worth about $32,000. V Square Quantitative Management LLC bought a new stake in GoDaddy during the 4th quarter worth about $28,000. International Assets Investment Management LLC bought a new stake in GoDaddy during the 2nd quarter worth about $36,000. Finally, GAMMA Investing LLC grew its holdings in GoDaddy by 102.3% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after acquiring an additional 133 shares during the last quarter. Institutional investors 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.