GoDaddy (NYSE:GDDY) Price Target Raised to $231.00 at JPMorgan Chase & Co.

GoDaddy (NYSE:GDDY) had its target price lifted by JPMorgan Chase & Co. from $224.00 to $231.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 9.41% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. Jefferies Financial Group boosted their price objective on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Benchmark boosted their target price on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird increased their price target on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Piper Sandler lifted their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Morgan Stanley increased their target price on shares of GoDaddy from $189.00 to $227.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $198.53.

GoDaddy Stock Performance

Shares of NYSE:GDDY opened at $211.14 on Thursday. The firm has a fifty day simple moving average of $203.90 and a two-hundred day simple moving average of $177.29. GoDaddy has a 52 week low of $107.92 and a 52 week high of $216.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The stock has a market capitalization of $29.64 billion, a P/E ratio of 16.32 and a beta of 1.15.

Insider Transactions at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $623,100.00. Following the transaction, the chief executive officer now owns 330,153 shares of the company’s stock, valued at approximately $68,572,778.10. This trade represents a 0.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the completion of the sale, the director now owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,983 shares of company stock valued at $4,983,133. 0.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GoDaddy

Institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its position in GoDaddy by 3.4% during the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after acquiring an additional 6,424 shares in the last quarter. Highland Capital Management LLC purchased a new stake in shares of GoDaddy during the 3rd quarter worth $1,132,000. CWA Asset Management Group LLC boosted its position in GoDaddy by 29.2% during the fourth quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock valued at $3,172,000 after purchasing an additional 3,631 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in GoDaddy by 28.0% in the third quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock valued at $6,907,000 after purchasing an additional 9,631 shares during the last quarter. Finally, Dai ichi Life Insurance Company Ltd grew its stake in GoDaddy by 39.6% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock valued at $9,410,000 after purchasing an additional 17,021 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

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.