GoDaddy's Domain Business Holds The Gold Standard, This Analyst Believes
Portfolio Pulse from Lekha Gupta
RBC Capital Markets analyst Brad Erickson initiated coverage on GoDaddy Inc (NYSE:GDDY) with a Sector Perform rating and a price target of $80. Erickson is bullish on GDDY's core business, citing its buyback program as positive. However, he sees GDDY's lower-quality GUI and lack of scalability as concerns.
June 05, 2023 | 6:02 pm
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RBC Capital Markets analyst Brad Erickson initiated coverage on GoDaddy with a Sector Perform rating and a price target of $80. He is bullish on GDDY's core business but has concerns about its GUI quality and scalability.
The initiation of coverage by RBC Capital Markets analyst Brad Erickson with a Sector Perform rating and a price target of $80 is a positive signal for GoDaddy. However, the concerns about the company's GUI quality and lack of scalability may limit the stock's short-term upside potential. Therefore, the short-term impact on GDDY's stock price is neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100