GoDaddy price target raised to $137 from $132 at Morgan Stanley

Morgan Stanley raised the firm’s price target on GoDaddy to $137 from $132 and keeps an Equal Weight rating on the shares. Q1 results that were slightly ahead of expectations and FY24 targets that were largely reiterated reflect “a solid start at GoDaddy, building confidence in the revenue outlook & mid-term model,” the analyst tells investors in a post-earnings note. Momentum in A&C bookings increases confidence in the growth outlook, while early commentary on Airo “furthers GoDaddy’s multi-product and monetization story,” the analyst added.