GoDaddy (NYSE:GDDY) Price Target Raised to $224.00 at JPMorgan Chase & Co.

GoDaddy (NYSE:GDDY) had its price target upped by analysts at JPMorgan Chase & Co. from $175.00 to $224.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 7.61% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. Jefferies Financial Group lifted their price target on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday. Piper Sandler upped their target price on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Barclays upped their target price on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a report on Wednesday. Five research 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $181.57.

GoDaddy Stock Up 4.9 %

GDDY opened at $208.15 on Wednesday. GoDaddy has a fifty-two week low of $99.90 and a fifty-two week high of $208.71. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The firm’s fifty day moving average price is $173.43 and its two-hundred day moving average price is $157.12. The company has a market capitalization of $29.22 billion, a P/E ratio of 16.09 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping 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 the consensus estimate of $1.14 billion. During the same quarter in the previous year, the company earned $0.89 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year. On average, analysts anticipate that GoDaddy will post 4.98 EPS for the current year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $197.77, for a total transaction of $593,310.00. Following the transaction, the chief executive officer now directly owns 342,956 shares in the company, valued at approximately $67,826,408.12. This represents a 0.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark Mccaffrey sold 2,678 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total transaction of $526,601.92. Following the transaction, the chief financial officer now owns 89,800 shares in the company, valued at approximately $17,658,272. The trade was a 2.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,925 shares of company stock worth $4,237,184. Company insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

A number of hedge funds have recently modified their holdings of GDDY. Federated Hermes Inc. raised its position in shares of GoDaddy by 35.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after acquiring an additional 394,399 shares during the period. Wedge Capital Management L L P NC raised its position in shares of GoDaddy by 2,279.5% in the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock valued at $62,908,000 after acquiring an additional 384,386 shares during the period. Mizuho Securities USA LLC raised its position in shares of GoDaddy by 3,227.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock valued at $56,709,000 after acquiring an additional 350,839 shares during the period. FMR LLC raised its position in shares of GoDaddy by 19.8% in the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock valued at $260,299,000 after acquiring an additional 274,014 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in GoDaddy by 37.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock worth $120,305,000 after purchasing an additional 235,934 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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.