Wells Fargo initiated coverage of GoDaddy (GDDY) with an Equal Weight rating and $198 price target During 2024, GoDaddy enhanced renewal pricing and reaccelerated bookings growth, but the shares are now trading at a peak multiple, the analyst tells investors in a research note. The firm says a continued re-rating of the stock is likely contingent on further bookings acceleration in 2025, which it views as unlikely.
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