GoDaddy (NYSE:GDDY) Trading Up 3.7% Following Analyst Upgrade

GoDaddy Inc. (NYSE:GDDY) rose 3.7% during trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $175.00 to $224.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. GoDaddy traded as high as $205.78 and last traded at $205.73. Approximately 402,038 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 1,458,633 shares. The stock had previously closed at $198.36.

Several other research analysts also recently commented on GDDY. B. Riley raised their target price on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Barclays raised their target price on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Robert W. Baird raised their target price on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a report on Monday, October 7th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and an average target price of $181.57.

Insider Transactions at GoDaddy

In related news, CFO Mark Mccaffrey sold 2,678 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total transaction of $526,601.92. Following the completion of the sale, the chief financial officer now owns 89,800 shares in the company, valued at approximately $17,658,272. This represents a 2.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the sale, the director now owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,925 shares of company stock worth $4,237,184 over the last quarter. 0.61% of the stock is currently owned by insiders.

Institutional Trading of GoDaddy

Hedge funds have recently bought and sold shares of the stock. Ashton Thomas Securities LLC bought a new position in shares of GoDaddy in the third quarter worth about $27,000. Transcendent Capital Group LLC bought a new position in shares of GoDaddy in the second quarter worth about $28,000. ORG Wealth Partners LLC bought a new position in shares of GoDaddy in the third quarter worth about $30,000. Anchor Investment Management LLC purchased a new position in GoDaddy during the 3rd quarter valued at $31,000. Finally, ORG Partners LLC purchased a new position in GoDaddy during the 2nd quarter valued at $32,000. Institutional investors own 90.28% of the company’s stock.

GoDaddy Trading Down 0.5 %

The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The stock has a 50-day simple moving average of $174.49 and a two-hundred day simple moving average of $157.48. The firm has a market capitalization of $29.14 billion, a P/E ratio of 16.12 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last issued 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. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. GoDaddy’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 EPS. On average, equities research analysts anticipate that GoDaddy Inc. will post 4.98 earnings per share for the current year.

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.