GoDaddy price target raised to $83 from $77 at Wells Fargo

Wells Fargo analyst Alec Brondolo raised the firm’s price target on GoDaddy (GDDY) to $83 from $77 and keeps an Equal Weight rating on the shares. The firm notes the company reported in-line Q1 EPS, while guiding Q1 bookings to a significant re-acceleration on lower promo activity. While bookings guide is positive, ramping competitive intensity suggests further volatility could lie ahead, Wells adds.