GoDaddy (NYSE:GDDY) Given New $175.00 Price Target at JPMorgan Chase & Co.

GoDaddy (NYSE:GDDYFree Report) had its price objective hoisted by JPMorgan Chase & Co. from $136.00 to $175.00 in a report issued on Wednesday, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other analysts have also recently issued research reports about the stock. Benchmark reiterated a buy rating and issued a $150.00 price target on shares of GoDaddy in a report on Wednesday, May 1st. Evercore ISI boosted their target price on shares of GoDaddy from $110.00 to $135.00 and gave the company an in-line rating in a report on Friday, May 3rd. B. Riley boosted their target price on shares of GoDaddy from $124.00 to $142.00 and gave the company a buy rating in a report on Thursday, March 7th. Robert W. Baird boosted their target price on shares of GoDaddy from $150.00 to $175.00 and gave the company an outperform rating in a report on Friday, May 24th. Finally, StockNews.com upgraded shares of GoDaddy from a buy rating to a strong-buy rating in a report on Wednesday, February 14th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $149.92.

Check Out Our Latest Analysis on GDDY

GoDaddy Stock Performance

NYSE:GDDY opened at $139.63 on Wednesday. The stock has a market cap of $19.92 billion, a P/E ratio of 11.60 and a beta of 1.09. The firm’s fifty day simple moving average is $128.22 and its 200 day simple moving average is $114.59. GoDaddy has a twelve month low of $69.18 and a twelve month high of $141.27. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 9.15.

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

Insider Transactions at GoDaddy

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

Institutional Investors Weigh In On GoDaddy

A number of large investors have recently made changes to their positions in GDDY. Victory Capital Management Inc. grew its stake in shares of GoDaddy by 77.2% during the 3rd quarter. Victory Capital Management Inc. now owns 76,517 shares of the technology company’s stock valued at $5,699,000 after purchasing an additional 33,342 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of GoDaddy by 18.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 24,468 shares of the technology company’s stock valued at $1,822,000 after acquiring an additional 3,736 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of GoDaddy by 15.3% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 63,351 shares of the technology company’s stock valued at $4,718,000 after acquiring an additional 8,421 shares during the period. Arizona State Retirement System grew its stake in shares of GoDaddy by 0.4% during the 3rd quarter. Arizona State Retirement System now owns 39,966 shares of the technology company’s stock valued at $2,977,000 after acquiring an additional 162 shares during the period. Finally, Barclays PLC grew its stake in shares of GoDaddy by 24.9% during the 3rd quarter. Barclays PLC now owns 155,571 shares of the technology company’s stock valued at $11,586,000 after acquiring an additional 31,034 shares during the period. 90.28% of the stock is currently owned by institutional investors.

About GoDaddy

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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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