William Blair analyst Arjun Bhatia has maintained their bullish stance on GDDY stock, giving a Buy rating today.
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Arjun Bhatia has given his Buy rating due to a combination of factors including GoDaddy’s strong third-quarter performance and strategic initiatives. The company reported a 10% increase in revenue, surpassing consensus estimates by $32 million, with notable contributions from both its core and A&C segments. The core segment, in particular, showed significant growth driven by high-value transactions in aftermarket domains.
Furthermore, GoDaddy’s pricing and packaging strategies, along with the development of its Airo.ai experience, are beginning to yield positive results. These initiatives are enhancing customer engagement and order values, which are crucial for sustained growth in the A&C segment. The launch of the Airo.ai website, featuring automation tools for small businesses, is expected to further bolster demand. Overall, Bhatia sees stable demand and ongoing progress in key initiatives as indicators of future growth and margin expansion opportunities for GoDaddy.
Bhatia covers the Technology sector, focusing on stocks such as Atlassian, Sprout Social, and Twilio. According to TipRanks, Bhatia has an average return of 0.9% and a 42.69% success rate on recommended stocks.
In another report released today, Seaport Global also maintained a Buy rating on the stock with a $173.00 price target.