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

GoDaddy (NYSE:GDDY) had its price objective hoisted by stock analysts at JPMorgan Chase & Co. from $224.00 to $231.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 9.96% from the company’s current price.

A number of other research analysts also recently issued reports on the stock. Piper Sandler boosted their price target 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. Raymond James boosted their price target on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. Wells Fargo & Company started coverage on shares of GoDaddy in a research report on Monday. They set an “equal weight” rating and a $198.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group boosted their target price on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and a consensus target price of $198.53.

GoDaddy Trading Up 0.1 %

Shares of NYSE GDDY traded up $0.21 during midday trading on Thursday, reaching $210.08. The stock had a trading volume of 363,072 shares, compared to its average volume of 1,070,689. The firm has a market cap of $29.49 billion, a price-to-earnings ratio of 16.23 and a beta of 1.15. GoDaddy has a twelve month low of $107.92 and a twelve month high of $216.00. 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 company’s 50 day moving average price is $203.64 and its 200 day moving average price is $177.05.

Insider Transactions at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the 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 transaction, the director now owns 24,121 shares in the company, valued at approximately $4,317,659. This represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the 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. The trade was a 0.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,983 shares of company stock worth $4,983,133 in the last quarter. 0.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GoDaddy

Several institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers lifted its holdings in GoDaddy by 10.9% during the second quarter. Cetera Investment Advisers now owns 17,962 shares of the technology company’s stock valued at $2,509,000 after purchasing an additional 1,764 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of GoDaddy in the second quarter worth about $1,097,000. Czech National Bank increased its position in shares of GoDaddy by 6.9% in the third quarter. Czech National Bank now owns 28,701 shares of the technology company’s stock worth $4,500,000 after purchasing an additional 1,848 shares during the last quarter. GAMMA Investing LLC increased its position in shares of GoDaddy by 69.2% in the third quarter. GAMMA Investing LLC now owns 1,849 shares of the technology company’s stock worth $290,000 after purchasing an additional 756 shares during the last quarter. Finally, Atomi Financial Group Inc. increased its position in shares of GoDaddy by 7.6% in the third quarter. Atomi Financial Group Inc. now owns 1,861 shares of the technology company’s stock worth $292,000 after purchasing an additional 131 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

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.