JPMorgan Chase & Co. Raises GoDaddy (NYSE:GDDY) Price Target to $136.00

GoDaddy (NYSE:GDDY - Get Free Report) had its price target hoisted by analysts at JPMorgan Chase & Co. from $128.00 to $136.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an "overweight" rating on the technology company's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 11.28% from the stock's current price.

Other equities research analysts also recently issued research reports about the company. UBS Group increased their price target on GoDaddy from $110.00 to $118.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 14th. StockNews.com upgraded shares of GoDaddy from a "buy" rating to a "strong-buy" rating in a report on Wednesday, February 14th. Piper Sandler upped their target price on GoDaddy from $130.00 to $145.00 and gave the stock an "overweight" rating in a research report on Thursday, March 7th. Barclays increased their target price 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, Royal Bank of Canada reissued an "outperform" rating and set a $124.00 target price on shares of GoDaddy in a report on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $135.18.

GoDaddy Stock Up 0.9 %

Shares of GDDY stock traded up $1.10 on Tuesday, reaching $122.21. 1,418,173 shares of the company's stock traded hands, compared to its average volume of 1,531,385. The company has a market capitalization of $17.41 billion, a P/E ratio of 12.65 and a beta of 1.12. The business's 50 day moving average price is $113.49 and its two-hundred day moving average price is $98.55. The company has a debt-to-equity ratio of 61.07, a quick ratio of 0.47 and a current ratio of 0.47. GoDaddy has a 12-month low of $67.43 and a 12-month high of $122.83.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.05. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. On average, equities analysts forecast that GoDaddy will post 4.74 earnings per share for the current year.

Insiders Place Their Bets

In other GoDaddy news, COO Roger Chen sold 4,000 shares of the business's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $114.11, for a total value of $456,440.00. Following the completion of the transaction, the chief operating officer now directly owns 208,632 shares of the company's stock, valued at $23,806,997.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Amanpal Singh Bhutani sold 2,500 shares of GoDaddy 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 transaction, the chief executive officer now owns 384,323 shares in the company, valued at $46,118,760. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Roger Chen sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $114.11, for a total transaction of $456,440.00. Following the sale, the chief operating officer now directly owns 208,632 shares of the company's stock, valued at approximately $23,806,997.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,115 shares of company stock valued at $13,037,055. 0.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of GoDaddy by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 16,202,298 shares of the technology company's stock worth $1,356,131,000 after purchasing an additional 107,949 shares during the period. BlackRock Inc. boosted its position in GoDaddy by 23.6% during the second quarter. BlackRock Inc. now owns 10,522,511 shares of the technology company's stock worth $790,556,000 after purchasing an additional 2,010,233 shares during the period. Starboard Value LP increased its stake in shares of GoDaddy by 23.9% in the fourth quarter. Starboard Value LP now owns 10,233,055 shares of the technology company's stock worth $765,637,000 after purchasing an additional 1,973,118 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of GoDaddy by 9.7% in the third quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company's stock valued at $473,713,000 after purchasing an additional 561,614 shares during the period. Finally, Morgan Stanley lifted its stake in shares of GoDaddy by 517.4% during the 4th quarter. Morgan Stanley now owns 6,125,512 shares of the technology company's stock valued at $458,311,000 after buying an additional 5,133,332 shares in the last quarter. Institutional investors and hedge funds 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.