Citi analyst Ygal Arounian maintained a Buy rating on GoDaddy today and set a price target of $234.00.
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Ygal Arounian has given his Buy rating due to a combination of factors that suggest potential growth and improvement for GoDaddy. The company is expected to deliver at least in-line results, with potential for margin expansion, as it focuses on higher-intent customers and continues to build momentum in its A&C bookings. Arounian sees easing comparisons in the second half of the year as a catalyst that could positively shift investor sentiment.
Moreover, GoDaddy’s strategic focus on high-value customer growth and divestitures of non-core businesses are expected to lead to a return to positive customer growth. The company is also poised to benefit from cost efficiencies in Care and Tech&Dev due to advancements in GenAI, which supports the free cash flow per share estimates and a target multiple of 16x P/FCF, compared to the current 13x. These factors, combined with the potential for new product bundles and the early success of Airo, underpin Arounian’s optimistic outlook.
Arounian covers the Technology sector, focusing on stocks such as Trade Desk, Bumble, and Verisign. According to TipRanks, Arounian has an average return of 9.0% and a 48.49% success rate on recommended stocks.