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

GoDaddy (NYSE:GDDY) had its price objective increased by JPMorgan Chase & Co. from $224.00 to $231.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

A number of other analysts have also commented on the stock. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Benchmark raised their price target on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Morgan Stanley boosted their price objective on GoDaddy from $189.00 to $227.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Piper Sandler raised their target price on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, B. Riley upped their target price 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. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $198.53.

GoDaddy Stock Performance

Shares of NYSE:GDDY opened at $210.71 on Thursday. The stock has a market capitalization of $29.58 billion, a P/E ratio of 16.28 and a beta of 1.15. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy has a 1-year low of $107.92 and a 1-year high of $216.00. The business has a 50-day moving average price of $203.64 and a two-hundred day moving average price of $177.05.

Insider Activity at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $183.80, for a total transaction of $183,800.00. Following the completion of the sale, the chief operating officer now owns 185,632 shares in the company, valued at $34,119,161.60. The trade was a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brian Sharples sold 500 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $179.00, for a total value of $89,500.00. Following the transaction, the director now owns 24,121 shares in the company, valued at $4,317,659. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,983 shares of company stock worth $4,983,133. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new stake in shares of GoDaddy during the 3rd quarter worth $27,000. ORG Wealth Partners LLC acquired a new stake in GoDaddy during the third quarter worth about $30,000. Anchor Investment Management LLC bought a new position in GoDaddy in the 3rd quarter valued at about $31,000. Versant Capital Management Inc acquired a new stake in shares of GoDaddy during the 4th quarter worth approximately $43,000. Finally, Friedenthal Financial bought a new position in GoDaddy in the fourth quarter valued at about $49,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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.