GoDaddy price target raised to $175 from $145 at RBC Capital

RBC Capital analyst Brad Erickson raised the firm’s price target on GoDaddy to $175 from $145 and keeps an Outperform rating on the shares. The company’s Q2 performance was one of its strongest yet as its margin accretive Apps & Commerce segment accelerated bookings again to 24%, Airo is showing solid promise of rising customer acquisition, engagement and monetization, and GoDaddy continues to outperform its own raised margin and free cash flow expectations, setting up an even more attractive multi-year growth positive capital return story, the analyst tells investors in a research note.