GoDaddy (NYSE:GDDY) Coverage Initiated by Analysts at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of GoDaddy (NYSE:GDDY) in a report released on Thursday, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $170.00 price target on the technology company’s stock.

Several other analysts have also commented on GDDY. B. Riley raised their price objective on GoDaddy from $143.00 to $170.00 and gave the company a buy rating in a report on Friday, July 12th. StockNews.com cut shares of GoDaddy from a strong-buy rating to a buy rating in a research report on Wednesday, August 7th. Robert W. Baird boosted their target price on GoDaddy from $175.00 to $190.00 and gave the stock an outperform rating in a research note on Friday, August 2nd. Citigroup increased 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. Finally, Piper Sandler raised their target price on GoDaddy from $145.00 to $160.00 and gave the stock an overweight rating in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, GoDaddy currently has a consensus rating of Moderate Buy and a consensus price target of $164.08.

GoDaddy Stock Down 2.0 %

NYSE:GDDY opened at $150.00 on Thursday. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. The stock has a market capitalization of $21.40 billion, a P/E ratio of 12.46 and a beta of 1.13. GoDaddy has a fifty-two week low of $71.15 and a fifty-two week high of $167.65. The company’s 50-day simple moving average is $152.27 and its 200-day simple moving average is $136.02.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data 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). GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the company posted $0.63 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts anticipate that GoDaddy will post 4.89 earnings per share for the current fiscal year.

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total value of $500,730.00. Following the sale, the chief executive officer now directly owns 358,773 shares of the company’s stock, valued at $59,882,801.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total value of $500,730.00. Following the transaction, the chief executive officer now directly owns 358,773 shares of the company’s stock, valued at approximately $59,882,801.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Roger Chen sold 4,000 shares of the business’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 $559,160.00. Following the sale, the chief operating officer now directly owns 192,632 shares of the company’s stock, valued at approximately $26,928,027.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,768 shares of company stock worth $4,213,025. 0.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GoDaddy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of GoDaddy by 2.6% in the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after buying an additional 379,228 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 valued at $433,895,000 after purchasing an additional 1,775,708 shares during the period. Norges Bank purchased a new position in shares of GoDaddy in the fourth quarter valued at $181,687,000. 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 purchasing an additional 394,399 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in GoDaddy by 13.8% during the 4th 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 during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

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.