GoDaddy (NYSE:GDDY) Price Target Increased to $175.00 by Analysts at JPMorgan Chase & Co.

GoDaddy (NYSE:GDDYFree Report) had its target price boosted by JPMorgan Chase & Co. from $136.00 to $175.00 in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

GDDY has been the subject of a number of other research reports. Benchmark reiterated a buy rating and set a $150.00 price objective on shares of GoDaddy in a research report on Wednesday, May 1st. Piper Sandler increased their price objective on GoDaddy from $130.00 to $145.00 and gave the company an overweight rating in a research report on Thursday, March 7th. StockNews.com upgraded GoDaddy from a buy rating to a strong-buy rating in a research report on Wednesday, February 14th. B. Riley increased their price objective on GoDaddy from $124.00 to $142.00 and gave the company a buy rating in a research report on Thursday, March 7th. Finally, William Blair reissued an outperform rating on shares of GoDaddy in a research note on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, GoDaddy presently has a consensus rating of Moderate Buy and an average price target of $149.92.

Check Out Our Latest Stock Analysis on GDDY

GoDaddy Stock Performance

GDDY opened at $139.61 on Wednesday. The company has a market capitalization of $19.92 billion, a price-to-earnings ratio of 11.60 and a beta of 1.09. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.55. GoDaddy has a 1-year low of $69.18 and a 1-year high of $141.27. The business has a 50 day moving average price of $128.22 and a two-hundred day moving average price of $114.43.

GoDaddy (NYSE:GDDYGet Free Report) last released its earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.08. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. Research analysts predict that GoDaddy will post 4.81 EPS for the current fiscal year.

Insider Transactions at GoDaddy

In other news, CFO Mark Mccaffrey sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $140.13, for a total value of $420,390.00. Following the transaction, the chief financial officer now directly owns 109,473 shares of the company’s stock, valued at $15,340,451.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other GoDaddy news, CFO Mark Mccaffrey sold 3,000 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $140.13, for a total transaction of $420,390.00. Following the transaction, the chief financial officer now directly owns 109,473 shares of the company’s stock, valued at $15,340,451.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 59,608 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $6,589,068.32. Following the transaction, the chief executive officer now directly owns 394,423 shares in the company, valued at $43,599,518.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 119,605 shares of company stock valued at $13,540,536. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On GoDaddy

Several hedge funds have recently bought and sold shares of the business. Cetera Advisors LLC increased its position in GoDaddy by 16.0% during the first quarter. Cetera Advisors LLC now owns 7,755 shares of the technology company’s stock worth $920,000 after buying an additional 1,068 shares during the last quarter. Cetera Investment Advisers boosted its holdings in GoDaddy by 365.9% during the first quarter. Cetera Investment Advisers now owns 16,198 shares of the technology company’s stock valued at $1,922,000 after acquiring an additional 12,721 shares during the period. Invst LLC bought a new stake in GoDaddy during the first quarter valued at about $873,000. PGGM Investments boosted its holdings in GoDaddy by 6.4% during the first quarter. PGGM Investments now owns 46,687 shares of the technology company’s stock valued at $5,541,000 after acquiring an additional 2,797 shares during the period. Finally, Swedbank AB bought a new stake in GoDaddy during the first quarter valued at about $17,577,000. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Company Profile

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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.

Further Reading

Analyst Recommendations for GoDaddy (NYSE:GDDY)

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