GoDaddy (NYSE:GDDY) Earns “Neutral” Rating from Piper Sandler

GoDaddy (NYSE:GDDY)‘s stock had its “neutral” rating reaffirmed by equities researchers at Piper Sandler in a research note issued to investors on Monday, MarketBeat Ratings reports. They currently have a $172.00 price objective on the technology company’s stock, up from their prior price objective of $160.00. Piper Sandler’s target price would indicate a potential upside of 9.01% from the company’s previous close.

GDDY has been the subject of a number of other reports. B. Riley lifted their price objective on shares of GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a report on Friday, July 12th. JPMorgan Chase & Co. boosted their price target on shares of GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. Cantor Fitzgerald assumed coverage on shares of GoDaddy in a report on Thursday, September 5th. They set a “neutral” rating and a $170.00 price target on the stock. Robert W. Baird lifted their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada lifted their price objective on shares of GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $165.00.

GoDaddy Trading Down 0.5 %

NYSE:GDDY opened at $157.78 on Monday. 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 stock has a market capitalization of $22.51 billion, a price-to-earnings ratio of 13.10 and a beta of 1.13. The firm has a fifty day simple moving average of $154.79 and a two-hundred day simple moving average of $139.74. GoDaddy has a 12 month low of $71.15 and a 12 month high of $167.65.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 41.12% and a negative return on equity of 709.73%. The firm’s quarterly 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 earnings per share. Analysts expect that GoDaddy will post 5.06 EPS for the current fiscal year.

Insider Activity at GoDaddy

In other GoDaddy news, CAO Nick Daddario sold 684 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total value of $107,545.32. Following the completion of the transaction, the chief accounting officer now owns 17,704 shares of the company’s stock, valued at approximately $2,783,599.92. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Amanpal Singh Bhutani sold 4,500 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $139.79, for a total value of $629,055.00. Following the completion of the sale, the chief executive officer now owns 365,398 shares of the company’s stock, valued at approximately $51,078,986.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Nick Daddario sold 684 shares of the company’s 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 sale, the chief accounting officer now directly owns 17,704 shares of the company’s stock, valued at approximately $2,783,599.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,744 shares of company stock valued at $4,816,386. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

A number of institutional investors have recently made changes to their positions in GDDY. V Square Quantitative Management LLC purchased a new stake in shares of GoDaddy in the 4th quarter valued at $28,000. Transcendent Capital Group LLC bought a new position in GoDaddy in the second quarter worth about $28,000. GAMMA Investing LLC raised its stake in GoDaddy by 102.3% in the first 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. ORG Partners LLC purchased a new stake in GoDaddy in the second quarter worth about $32,000. Finally, International Assets Investment Management LLC bought a new stake in GoDaddy during the 2nd quarter valued at approximately $36,000. Hedge funds and other institutional investors 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.