GoDaddy price target raised to $125 from $100 at Barclays

Barclays analyst Trevor Young raised the firm’s price target on GoDaddy to $125 from $100 and keeps an Overweight rating on the shares. The analyst is “incrementally positive” on web tools going into the Q4 reports, saying channel checks point to strong customer trends across the group, despite some macro indicators showing a continuation of the softness seen in Q3. Demand seems steady, if not improving slightly, and cost discipline implemented in 2023 should continue to bear fruit, both of which bode well for Q4, the analyst tells investors in a research note.