GoDaddy price target raised to $227 from $189 at Morgan Stanley

Morgan Stanley analyst Elizabeth Porter raised the firm’s price target on GoDaddy (GDDY) to $227 from $189 and keeps an Equal Weight rating on the shares. Accelerating product innovation, including direct monetization of Airo, should allow GoDaddy to increase wallet share with entrepreneurs, the analyst tells investors. In the near-term, the firm is looking to build confidence in the company’s ability to offset tough Applications and Commerce bookings comparisons with the expansion of the pricing and bundling strategy to new areas, the analyst added.