Barclays raised the firm’s price target on GoDaddy to $185 from $165 and keeps an Overweight rating on the shares. The firm says unpacking its seven key sub-segments reveals a gross margin improvement opportunity if GoDaddy can mix shift towards higher margin productivity apps and website subscriptions. The company’s core domains are likely to remain a drag in the medium term, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GDDY:
- Piper upgrades Wix.com to Overweight, downgrades GoDaddy to Neutral
- GoDaddy downgraded to Neutral from Overweight at Piper Sandler
- Cantor Fitzgerald Internet analyst to hold an analyst/industry conference call
- GoDaddy initiated with a Neutral at Cantor Fitzgerald
- GoDaddy price target raised to $186 from $170 at Benchmark