Raymond James Gives GoDaddy Strong Buy Rating and $150 Price Target in Latest Research Coverage
March 29, 2024
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GODADDY ($NYSE:GDDY): GoDaddy Inc. is a leading provider of internet domain registration and web hosting services, catering to small businesses and individuals looking to establish an online presence. The company has been steadily growing in the competitive tech industry, with a strong focus on customer service and user-friendly platforms. In the latest research coverage by Raymond James, the financial services company has given GoDaddy Inc. a “strong buy” rating and set a price target of $150. This reaffirms the market’s confidence in the company’s long-term potential and growth prospects. The report also delved into the potential for growth in the rapidly expanding digital landscape, where more businesses are turning to online platforms to reach their customers. One of the key factors contributing to the strong buy rating is GoDaddy’s consistent revenue growth over the years.
The company has reported double-digit revenue growth for several consecutive quarters, demonstrating its ability to capture a larger share of the market. Moreover, GoDaddy has made strategic investments in technology and customer service, which have translated into higher customer retention rates and increased customer satisfaction. With a focus on constantly improving its products and services, GoDaddy is well-positioned to capitalize on the growing demand for online solutions. In addition to its core business, GoDaddy has also been expanding its offerings through acquisitions. With a strong market position, consistent growth, and strategic investments, GoDaddy is well-positioned to continue its upward trajectory in the competitive tech industry.
Stock Price
On Thursday, GODADDY INC‘s stock opened at $122.2 and closed at $118.7, marking a decrease of 2.8% from its previous closing price of $122.1. This dip in stock price may have been a concern for some investors, but it seems that Raymond James is confident in the company’s potential. This indicates the firm’s belief that GoDaddy’s stock has the potential to increase significantly in value.
Additionally, GoDaddy has made strategic moves to expand its services, including the recent acquisition of Poynt, a payment platform for small businesses. This acquisition aligns with GoDaddy’s focus on providing a comprehensive suite of services for entrepreneurs and small business owners. With a track record of strong financial performance and strategic moves to diversify its offerings, it seems that GoDaddy is well-positioned for future success. Only time will tell if the company will meet or exceed Raymond James’ expectations, but for now, the research coverage provides a positive outlook for investors. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Godaddy Inc. More…
| Total Revenues | Net Income | Net Margin |
| 4.25k | 1.39k | 34.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Godaddy Inc. More…
| Operations | Investing | Financing |
| 1.05k | -102.4 | -1.26k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Godaddy Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 7.58k | 7.5k | 0.57 |
Key Ratios Snapshot
Some of the financial key ratios for Godaddy Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.7% | 34.5% | 13.7% |
| FCF Margin | ROE | ROA |
| 22.8% | -81.3% | 4.8% |
Analysis
After analyzing the fundamentals of GODADDY INC, I have determined that it is classified as a ‘rhino’ company according to the Star Chart methodology. This means that GODADDY INC has achieved moderate revenue or earnings growth, indicating a stable and potentially profitable company. Investors who are interested in a company like GODADDY INC are typically looking for moderate growth potential with lower risk. This could include investors who prefer a more conservative approach to their investments or those who are looking for a stable company to add to their portfolio. In terms of financial health, GODADDY INC has an intermediate score of 6/10. While the company has some potential to generate cashflows and pay off debt, there is also some risk involved due to its debt levels. However, overall, the company is likely to be able to pay off its debt and fund future operations. One of the strengths of GODADDY INC is its strong asset position. This means that the company has valuable assets that can be used to generate revenue and support its operations. Additionally, GODADDY INC has shown strong growth potential and profitability, indicating a strong business model. On the other hand, GODADDY INC may not be attractive to investors who are seeking dividend income. The company has been weak in this aspect and does not currently offer a dividend to its shareholders. In conclusion, GODADDY INC may be a good fit for investors looking for moderate growth potential and a stable, profitable company. However, investors should also carefully consider the potential risks and the lack of dividend income before making any investment decisions. More…
Peers
As of March 2020, GoDaddy has approximately 19 million customers and over 77 million domain names under management. The company is headquartered in Scottsdale, Arizona, and employs more than 4,000 people. Hipay Group SA is a French provider of online and mobile payment solutions. The company offers a range of services, including credit and debit card processing, e-commerce, and fraud prevention. Hipay Group SA has over 500 employees and is headquartered in Paris, France. Ease2pay NV is a Belgian provider of online payment solutions. The company offers a range of services, including credit and debit card processing, e-commerce, and fraud prevention. Ease2pay NV has over 200 employees and is headquartered in Brussels, Belgium. Spenda Ltd is a UK-based provider of online payment solutions. The company offers a range of services, including credit and debit card processing, e-commerce, and fraud prevention. Spenda Ltd has over 100 employees and is headquartered in London, England.
– Hipay Group SA ($LTS:0RA7)
Hipay Group SA is a global provider of online payment solutions. The company offers a range of services, including credit and debit card processing, mobile payments, and cross-border payments. Hipay Group SA has a market cap of 21.46M as of 2022 and a return on equity of -12.85%. The company’s products and services are used by merchants in a variety of industries, including e-commerce, travel, and gaming.
– Ease2pay NV ($LTS:0E63)
Ease2pay NV is a provider of mobile payments solutions. The company offers a range of services, including mobile payment processing, mobile wallet management, and merchant acquiring. Ease2pay NV has a market cap of 41.15M as of 2022. The company’s return on equity was -6.13% for the year ended December 31, 2021.
– Spenda Ltd ($ASX:SPX)
Spenda Ltd is a publicly traded company with a market capitalization of $38.78 million as of 2022. The company has a negative return on equity of -53.06%, meaning that it has lost money for shareholders in the past year. Spenda Ltd is a provider of online marketing and advertising services. The company operates in the United Kingdom, the United States, Canada, Australia, and New Zealand.
Summary
Raymond James has initiated research coverage on GoDaddy Inc, giving it a “strong-buy” rating and a price target of $150. This indicates a positive view on the company’s stock and potential for growth. The report suggests that GoDaddy is a strong investment opportunity and has the potential to outperform the market. Investors should consider buying shares of GoDaddy based on this analysis.
However, it is important to note that this analysis does not provide any background information on the company. Investors should conduct their own research and consider other factors before making any investment decisions.
