GoDaddy Receives a Hold from Cantor Fitzgerald

By Carrie Williams

Cantor Fitzgerald analyst Naved Khan assigned a Hold rating to GoDaddy (NYSE: GDDY) on June 23. The company’s shares closed last Friday at $43.27, close to its 52-week high of $44.22.

According to TipRanks.com, Khan is a 5-star analyst with an average return of 23.2% and a 85.4% success rate. Khan covers the Technology sector, focusing on stocks such as Endurance International, Paypal Holdings, and Facebook Inc.

Currently, the analyst consensus on GoDaddy is Moderate Buy and the average price target is $45.50, representing a 5.2% upside.

In a report issued on June 22, Stifel Nicolaus also reiterated a Hold rating on the stock with a $41 price target.

Based on GoDaddy’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $490 million and quarterly net profit of $600K. In comparison, last year the company earned revenue of $434 million and had a GAAP net loss of $10.5 million.

Based on the recent corporate insider activity of 125 insiders, corporate insider sentiment is negative on the stock. Last month, Kkr 2006 Fund L.P., a Major Shareholder at GDDY sold 5,311,591 shares for a total of $119,155,533.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

GoDaddy, Inc. engages in the provision of domain name registration and web hosting services. It provides website building, hosting, and security tools. The company was founded by Robert R. Parsons on January 1997 and is headquartered in Scottsdale, AZ.,00G546-E