GoDaddy (NYSE:GDDY) Sets New 1-Year High After Analyst Upgrade

Shares of GoDaddy Inc. (NYSE:GDDY - Get Free Report) hit a new 52-week high during trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $128.00 to $136.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. GoDaddy traded as high as $123.58 and last traded at $123.55, with a volume of 170699 shares trading hands. The stock had previously closed at $122.23.

Several other analysts also recently commented on the stock. Evercore ISI downgraded shares of GoDaddy from an "outperform" rating to an "in-line" rating and increased their price objective for the company from $100.00 to $110.00 in a research report on Wednesday, February 14th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $124.00 price target on shares of GoDaddy in a report on Thursday, March 7th. Robert W. Baird raised their price target on shares of GoDaddy from $130.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, March 25th. Barclays raised their price target on shares of GoDaddy from $125.00 to $130.00 and gave the company an "overweight" rating in a report on Tuesday, February 20th. Finally, Raymond James began coverage on shares of GoDaddy in a report on Wednesday, March 27th. They set a "strong-buy" rating and a $150.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, GoDaddy currently has a consensus rating of "Moderate Buy" and a consensus price target of $135.18.

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 2,500 shares of the firm's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $120.00, for a total value of $300,000.00. Following the completion of the transaction, the chief executive officer now directly owns 384,323 shares of the company's stock, valued at $46,118,760. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Mark Mccaffrey sold 28,392 shares of the firm's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $110.54, for a total value of $3,138,451.68. Following the completion of the transaction, the chief financial officer now directly owns 120,952 shares of the company's stock, valued at $13,370,034.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 2,500 shares of the firm's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $120.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief executive officer now directly owns 384,323 shares of the company's stock, valued at $46,118,760. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,610 shares of company stock valued at $12,985,308. 0.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in GoDaddy during the fourth quarter worth $28,000. Achmea Investment Management B.V. purchased a new position in GoDaddy during the first quarter worth $31,000. Frazier Financial Advisors LLC purchased a new position in GoDaddy during the fourth quarter worth $33,000. Quent Capital LLC boosted its stake in GoDaddy by 2,113.6% during the third quarter. Quent Capital LLC now owns 487 shares of the technology company's stock worth $36,000 after buying an additional 465 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its stake in GoDaddy by 140.4% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company's stock worth $37,000 after buying an additional 205 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Price Performance

The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 61.07. The firm's 50 day simple moving average is $113.78 and its 200 day simple moving average is $98.88. The company has a market capitalization of $17.65 billion, a PE ratio of 12.89 and a beta of 1.12.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.05. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. GoDaddy had a net margin of 32.74% and a negative return on equity of 89.25%. As a group, research analysts anticipate that GoDaddy Inc. will post 4.74 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.