GoDaddy (NYSE:GDDY) Shares Up 0.1% After Analyst Upgrade

GoDaddy Inc. (NYSE:GDDY) rose 0.1% during mid-day trading on Thursday 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 $209.90 and last traded at $208.46. Approximately 223,601 shares traded hands during trading, a decline of 85% from the average daily volume of 1,460,944 shares. The stock had previously closed at $208.15.

Several other research firms also recently weighed in on GDDY. Robert W. Baird raised their price objective on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a research note on Monday, October 7th. Piper Sandler increased their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Barclays raised their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Five investment 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $181.57.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total transaction of $593,310.00. Following the completion of the sale, the chief executive officer now owns 342,956 shares of the company’s stock, valued at approximately $67,826,408.12. This represents a 0.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the transaction, the director now directly owns 24,121 shares in the company, valued at approximately $4,317,659. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,925 shares of company stock valued at $4,237,184 in the last 90 days. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GoDaddy

Several hedge funds have recently modified their holdings of GDDY. Ashton Thomas Securities LLC acquired a new position in GoDaddy in the 3rd quarter worth $27,000. Transcendent Capital Group LLC acquired a new position in shares of GoDaddy in the second quarter worth about $28,000. ORG Wealth Partners LLC purchased a new position in GoDaddy in the third quarter valued at about $30,000. Anchor Investment Management LLC acquired a new stake in GoDaddy during the 3rd quarter valued at approximately $31,000. Finally, ORG Partners LLC purchased a new stake in GoDaddy during the 2nd quarter worth approximately $32,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Stock Up 0.2 %

The company has a market capitalization of $29.28 billion, a PE ratio of 16.12 and a beta of 1.15. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a fifty day simple moving average of $174.49 and a 200-day simple moving average of $157.48.

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

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.