GoDaddy price target raised to $120 from $111 at Morgan Stanley

Morgan Stanley analyst Elizabeth Porter raised the firm’s price target on GoDaddy to $120 from $111 and keeps an Equal Weight rating on the shares. Q4 revenue growth was in line with guidance at 5.8%, while GoDaddy continues to outperform on profitability and guidance for FY24 revenue, margin and free cash flow were largely in line with the Street view, the analyst tells investors. The firm looks for more confidence in the opportunity for revenue acceleration before getting more constructive, the analyst added.