Piper Sandler analyst Clarke Jeffries raised the firm’s price target on GoDaddy to $145 from $130 and keeps an Overweight rating on the shares. GoDaddy hosted its 2024 Investor Day, showcasing product strategy updates and giving new three-year financial targets across revenue growth, EBITDA margin, and free cash flow/share growth, the firm says. On the product side, Piper was particularly impressed by the commerce readiness of Airo, the company’s AI-powered solution, which represents the intersection of GenAI tools, and the culmination of a multi-year build out of a common data environment for GoDaddy’s applications, creating seamless cross-sell experiences. On the financial side, the firm believes new three-year targets handily beat expectations. The firm walks away encouraged by potential of incremental growth levers via Commerce and Airo, and prospects for GoDaddy to drive $13+ of free cash flow/share by FY26.
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