JPMorgan Chase & Co. Issues Positive Forecast for GoDaddy (NYSE:GDDY) Stock Price

GoDaddy (NYSE:GDDY) had its price target hoisted by JPMorgan Chase & Co. from $231.00 to $240.00 in a research report released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

Other equities research analysts have also issued reports about the stock. Citigroup cut their target price on shares of GoDaddy from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Royal Bank of Canada reduced their target price on GoDaddy from $230.00 to $225.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Benchmark restated a “buy” rating on shares of GoDaddy in a report on Monday, April 28th. Jefferies Financial Group cut their price objective on GoDaddy from $200.00 to $185.00 and set a “hold” rating on the stock in a report on Monday, April 7th. Finally, Raymond James raised their target price on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $214.86.

GoDaddy Stock Up 0.3 %

NYSE GDDY opened at $182.68 on Tuesday. The stock’s 50 day simple moving average is $176.70 and its 200 day simple moving average is $187.60. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. GoDaddy has a one year low of $128.53 and a one year high of $216.00. The firm has a market cap of $25.82 billion, a PE ratio of 28.32 and a beta of 1.13.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The company’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.76 earnings per share. As a group, sell-side analysts forecast that GoDaddy will post 6.63 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $541,980.00. Following the transaction, the chief executive officer now directly owns 505,649 shares of the company’s stock, valued at approximately $91,350,548.34. The trade was a 0.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $194.28, for a total value of $194,280.00. Following the completion of the transaction, the chief operating officer now owns 182,632 shares in the company, valued at approximately $35,481,744.96. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,500 shares of company stock valued at $10,244,835. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

A number of institutional investors have recently modified their holdings of GDDY. Cornerstone Planning Group LLC grew its position in shares of GoDaddy by 123.4% during the 1st quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. Park Square Financial Group LLC bought a new position in shares of GoDaddy in the 1st quarter worth $27,000. Private Trust Co. NA increased its holdings in shares of GoDaddy by 591.3% in the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company’s stock worth $29,000 after buying an additional 136 shares during the last quarter. Versant Capital Management Inc purchased a new stake in shares of GoDaddy during the 4th quarter valued at $43,000. Finally, Rakuten Securities Inc. lifted its holdings in shares of GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after acquiring an additional 165 shares during the last quarter. 90.28% of the stock is currently 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.