Jefferies analyst Brent Thill downgraded GoDaddy (GDDY) to Hold from Buy with an $80 price target. GoDaddy is is a mid-cap story providing a balanced profile of consistent high single digit/low teens revenue growth, margin expansion, and healthy free cash flow generation, and while there is potential for accelerating momentum long-term from product innovation and bundling, Thill prefers Wix.com (WIX) as Wix could benefit from significant improvement in margins and cash flows and regain its historical valuation premium over GoDaddy, the analyst tells investors in a research note.
Published first on TheFly
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