Cantor Fitzgerald Increases Earnings Estimates for GoDaddy

GoDaddy Inc. (NYSE:GDDY) – Investment analysts at Cantor Fitzgerald raised their FY2024 EPS estimates for GoDaddy in a report issued on Thursday, October 31st. Cantor Fitzgerald analyst D. Mathivanan now anticipates that the technology company will post earnings of $6.54 per share for the year, up from their previous forecast of $6.46. Cantor Fitzgerald has a “Neutral” rating and a $170.00 price target on the stock. The consensus estimate for GoDaddy’s current full-year earnings is $5.09 per share.

Other equities research analysts have also issued reports about the company. Barclays lifted their price target on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Robert W. Baird boosted their target price on shares of GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday. Royal Bank of Canada upped their target price on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday. Raymond James boosted their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Piper Sandler raised their target price on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.38.

GoDaddy Stock Down 2.1 %

GDDY stock opened at $163.36 on Monday. GoDaddy has a fifty-two week low of $74.12 and a fifty-two week high of $171.93. The company has a market capitalization of $23.03 billion, a price-to-earnings ratio of 12.62 and a beta of 1.11. The business’s 50 day moving average price is $159.18 and its two-hundred day moving average price is $147.45. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.48 and a current ratio of 0.56.

GoDaddy (NYSE:GDDY) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the firm posted $0.89 EPS. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year.

Insiders Place Their Bets

In related news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total value of $164,160.00. Following the completion of the sale, the chief operating officer now directly owns 186,632 shares in the company, valued at approximately $30,637,509.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total value of $466,800.00. Following the transaction, the chief executive officer now directly owns 348,956 shares in the company, valued at $54,297,553.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $164.16, for a total value of $164,160.00. Following the sale, the chief operating officer now owns 186,632 shares of the company’s stock, valued at approximately $30,637,509.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,744 shares of company stock valued at $4,089,571. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Large investors have recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of GoDaddy by 0.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock valued at $2,837,000 after acquiring an additional 67 shares during the period. Whittier Trust Co. lifted its position in GoDaddy by 4.3% during the second quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock valued at $249,000 after purchasing an additional 74 shares in the last quarter. Lindbrook Capital LLC grew its holdings in GoDaddy by 11.3% during the third quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock valued at $153,000 after purchasing an additional 99 shares during the period. Equitable Trust Co. increased its position in GoDaddy by 1.3% in the third quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock worth $1,322,000 after buying an additional 107 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of GoDaddy by 22.4% in the third quarter. Covestor Ltd now owns 590 shares of the technology company’s stock worth $93,000 after buying an additional 108 shares during the period. 90.28% of the stock is currently owned by institutional investors.

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.