Godaddy Inc (GDDY) Given New $46.00 Price Target at Cantor Fitzgerald

Godaddy Inc (NYSE:GDDY) had its price target hoisted by Cantor Fitzgerald from $42.00 to $46.00 in a research report report published on Wednesday, May 3rd. Cantor Fitzgerald currently has an overweight rating on the technology company’s stock.

Several other analysts have also weighed in on the company. B. Riley restated a buy rating and issued a $47.00 price objective on shares of Godaddy in a report on Wednesday, May 3rd. Barclays PLC initiated coverage on Godaddy in a research report on Tuesday, March 28th. They set an overweight rating and a $45.00 target price on the stock. Zacks Investment Research lowered Godaddy from a buy rating to a hold rating in a research report on Friday, February 17th. Monness Crespi & Hardt reaffirmed a buy rating on shares of Godaddy in a research report on Thursday, February 16th. Finally, Royal Bank of Canada reaffirmed an outperform rating on shares of Godaddy in a research report on Thursday, February 16th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $41.83.

Godaddy (NYSE:GDDY) traded up 1.63% during midday trading on Wednesday, reaching $40.55. The company’s stock had a trading volume of 440,294 shares. The company’s market capitalization is $3.71 billion. The company’s 50-day moving average price is $38.19 and its 200-day moving average price is $36.25. Godaddy has a 1-year low of $28.13 and a 1-year high of $40.60.

Godaddy (NYSE:GDDY) last announced its quarterly earnings data on Tuesday, May 2nd. The technology company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.05. The business had revenue of $489.70 million during the quarter, compared to analyst estimates of $487.77 million. Godaddy had a negative return on equity of 2.14% and a negative net margin of 0.81%. On average, analysts predict that Godaddy will post $0.19 earnings per share for the current fiscal year.

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In other Godaddy news, COO Scott Wagner sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $36.95, for a total value of $295,600.00. Following the completion of the sale, the chief operating officer now owns 10,355 shares in the company, valued at approximately $382,617.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Blake Irving sold 37,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 11th. The stock was sold at an average price of $36.46, for a total value of $1,367,250.00. Following the completion of the sale, the chief executive officer now owns 39,855 shares of the company’s stock, valued at approximately $1,453,113.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,891,180 shares of company stock valued at $744,995,742. 25.70% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its stake in Godaddy by 215.1% in the first quarter. BNP Paribas Arbitrage SA now owns 2,770 shares of the technology company’s stock worth $105,000 after buying an additional 1,891 shares in the last quarter. Parallel Advisors LLC boosted its stake in Godaddy by 10.1% in the first quarter. Parallel Advisors LLC now owns 2,721 shares of the technology company’s stock worth $105,000 after buying an additional 250 shares in the last quarter. 1st Global Advisors Inc. acquired a new stake in Godaddy during the first quarter worth $216,000. Highbridge Capital Management LLC acquired a new stake in Godaddy during the fourth quarter worth $223,000. Finally, Karp Capital Management Corp acquired a new stake in Godaddy during the first quarter worth $251,000.

About Godaddy

GoDaddy Inc is a technology provider to small businesses, Web design professionals and individuals. The Company delivers cloud-based products and personalized customer care. It operates a domain marketplace, where its customers can find the digital real estate that matches their idea. It provides Website building, hosting and security tools to help customers construct and protect online presence.

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