GoDaddy price target raised to $126 from $122 at Wolfe Research

Wolfe Research raised the firm’s price target on GoDaddy to $126 from $122 and keeps an Outperform rating on the shares. The company reported Q4 results with revenue in-line with prior guidance and EBITDA margins slightly above, the analyst tells investors in a research note. The firm says GoDaddy’s initial fiscal 2024 outlook came in below the Street on revenue, but largely in-line on EBITDA margins and free cash flow. Wolfe says the company’s improving margin and free cash flow story is intact.