Mark Zgutowicz, an analyst from Benchmark Co., reiterated the Buy rating on GoDaddy (GDDY – Research Report). The associated price target is $230.00.
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Mark Zgutowicz has given his Buy rating due to a combination of factors including GoDaddy’s strategic emphasis on Applications & Commerce (A&C), which is anticipated to drive accretive revenue growth. As the company continues to automate operations and shift its revenue mix towards higher-margin A&C offerings, Zgutowicz foresees a substantial improvement in the NEBITDA margin by 2026.
Additionally, Zgutowicz sees potential in GoDaddy’s unique data leverage, stemming from its extensive client base, which enhances their marketing suite’s effectiveness. The recent launch of their Digital Marketing suite and its initial success, alongside a promising trajectory in up-market enterprise services bolstered by advancements in AI/ML, are key elements influencing the raised price target to $230. These factors collectively underpin Zgutowicz’s positive outlook on GoDaddy’s stock performance.
In another report released on February 7, Barclays also maintained a Buy rating on the stock with a $235.00 price target.