William Blair analyst Arjun Bhatia has maintained their bullish stance on GDDY stock, giving a Buy rating today.
Arjun Bhatia has given his Buy rating due to a combination of factors that highlight GoDaddy’s strong performance and growth potential. The company’s first-quarter revenue exceeded expectations, driven by significant growth in its application and commerce segment. This was supported by successful pricing and packaging strategies, along with the Airo initiative, which contributed to higher margins and increased profitability.
Furthermore, despite a challenging macroeconomic environment, GoDaddy maintained its guidance, demonstrating resilience in its customer base and key performance indicators. The company’s strategic initiatives are expected to sustain durable growth, particularly in the higher-margin segments. With the stock trading at a favorable valuation relative to its future free cash flow estimates, there is potential for upside as investor confidence in GoDaddy’s long-term growth strengthens.
In another report released today, Barclays also maintained a Buy rating on the stock with a $235.00 price target.
Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GDDY in relation to earlier this year.