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 report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

GDDY has been the topic of a number of other research reports. Barclays increased their price target on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. B. Riley increased their price objective on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Benchmark boosted their target price on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Five investment 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 company’s stock. According to data from MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.57.

GoDaddy Trading Down 1.0 %

Shares of GDDY stock opened at $206.53 on Wednesday. GoDaddy has a 12-month low of $99.90 and a 12-month high of $210.30. The company has a market capitalization of $28.99 billion, a PE ratio of 15.96 and a beta of 1.15. The firm has a 50 day moving average price of $175.50 and a two-hundred day moving average price of $157.95. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the company posted $0.89 earnings per share. GoDaddy’s revenue was up 7.3% compared to the same quarter last year. As a group, analysts predict that GoDaddy will post 4.98 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In other news, CAO Nick Daddario sold 2,976 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $151.61, for a total value of $451,191.36. Following the completion of the transaction, the chief accounting officer now owns 14,728 shares of the company’s stock, valued at $2,232,912.08. This represents a 16.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $179.00, for a total transaction of $89,500.00. Following the sale, the director now directly owns 24,121 shares in the company, valued at $4,317,659. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,925 shares of company stock worth $4,237,184 over the last quarter. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GDDY. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of GoDaddy by 0.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock worth $2,837,000 after acquiring an additional 67 shares during the last quarter. Prime Capital Investment Advisors LLC increased its position in GoDaddy by 4.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock valued at $296,000 after purchasing an additional 73 shares during the period. Whittier Trust Co. raised its holdings in GoDaddy by 4.3% during the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock worth $249,000 after purchasing an additional 74 shares during the last quarter. Lindbrook Capital LLC lifted its position in shares of GoDaddy by 11.3% in the 3rd quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock worth $153,000 after purchasing an additional 99 shares during the period. Finally, Equitable Trust Co. boosted its stake in shares of GoDaddy by 1.3% in the 3rd quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock valued at $1,322,000 after purchasing an additional 107 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.