Market News

3 Website Building Companies Seen as Good Opportunities by J.P. Morgan

Shares of GoDaddy (NYSE: GDDY) are up in today’s trading session. This can be attributed to J.P. Morgan (NYSE: JPM) Analyst Alexei Gogolev, who initiated coverage of the company with a Buy rating and a price target of $89 per share.

He also provided his take on competitors Wix (NASDAQ: WIX) and SquareSpace (NYSE: SQSP). Both stocks were assigned Hold ratings, with the former receiving an $84 price target while the latter was given a $25 price target.

Alexei Gogolev believes that each company is attractive for the long term but remains cautious for the short term due to increasing consumer costs impacting discretionary spending.

Are GDDY, WIX, and SQSP Stocks Buys, Sells, or Holds?

Overall, analyst consensus estimates are slightly different than those of Gogolev. GDDY stock has a Strong Buy consensus rating with a price target of $94.40 per share. This implies 27.1% upside potential. On the other hand, WIX stock has a Moderate Buy rating with a $99 price target. This equates to 14.94% upside potential. Lastly, SQSP stock has a Hold consensus rating with a $22.63 price target. This translate into 9.8% upside.


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