Evercore ISI analyst Mark Mahaney upgraded GoDaddy to Outperform from In Line with a price target of $103, up from $86. Mahaney views GoDaddy as a company with a reasonably recession-resistant business model, and has an "intriguing" new product cycle with the rollout of Payable Domains that has the potential to materially boost ARPU, the analyst tells investors in a research note. In addition, the business is set up well for a potentially softening demand environment and its valuation is intrinsically and relatively attractive, the analyst contends.
Published first on TheFly
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