GoDaddy (NYSE:GDDY) Price Target Raised to $224.00

GoDaddy (NYSE:GDDY) had its target price boosted by JPMorgan Chase & Co. from $175.00 to $224.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group boosted their price target on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research report 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 research report on Thursday, October 31st. Benchmark raised their price target on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a research report on Monday, October 7th. Finally, Robert W. Baird boosted their target price on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $181.57.

GoDaddy Trading Down 1.0 %

GDDY stock opened at $206.53 on Wednesday. GoDaddy has a 1-year low of $99.90 and a 1-year high of $210.30. 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 business’s 50 day moving average is $175.50 and its 200-day moving average is $157.95. The firm has a market cap of $28.99 billion, a P/E ratio of 15.96 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the company posted $0.89 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities analysts anticipate that GoDaddy will post 4.98 earnings per share for the current fiscal year.

Insider Transactions at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $197.77, for a total transaction of $98,885.00. Following the completion of the transaction, the director now directly owns 23,621 shares of the company’s stock, valued at $4,671,525.17. This represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $152.17, for a total value of $152,170.00. Following the transaction, the chief operating officer now owns 187,632 shares of the company’s stock, valued at approximately $28,551,961.44. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,925 shares of company stock valued at $4,237,184 over the last 90 days. 0.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On GoDaddy

Hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. increased its holdings in GoDaddy by 10.2% during the third quarter. Franklin Resources Inc. now owns 417,902 shares of the technology company’s stock worth $68,565,000 after buying an additional 38,511 shares during the last quarter. Tidal Investments LLC grew its position in shares of GoDaddy by 38.7% in the 3rd quarter. Tidal Investments LLC now owns 18,643 shares of the technology company’s stock valued at $2,923,000 after acquiring an additional 5,205 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of GoDaddy during the 3rd quarter worth about $922,000. Anchor Investment Management LLC bought a new stake in shares of GoDaddy in the 3rd quarter valued at about $31,000. Finally, Te Ahumairangi Investment Management Ltd lifted its stake in GoDaddy by 86.8% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 15,012 shares of the technology company’s stock valued at $2,340,000 after purchasing an additional 6,974 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

About GoDaddy

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.