Piper Sandler raised the firm’s price target on GoDaddy to $130 from $121 and keeps an Overweight rating on the shares following quarterly results. Despite the 6% growth guide being softer than the firm expected, $9 free cash flow/share and low-to-mid teens 2024 A&C revenue growth reinforce the company is balancing profitability with expanding cross-sell opportunity and mid-single-digit overall growth. Piper would flag financial targets at the upcoming Analyst Day in early March will be material in setting expectations on revenue growth and profit per share growth over the next few years.
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