GoDaddy initiated with a Neutral at Cantor Fitzgerald

Cantor Fitzgerald analyst Deepak Mathivanan initiated coverage of GoDaddy with a Neutral rating and $170 price target. The fundamental outlook “remains bright for the next 12-18 months,” but the firm’s enthusiasm on fundamentals is tempered by the strong year-to-date outperformance, with shares up 58%, and the current valuation.