GoDaddy Inc (GDDY) Reports Solid 3Q Bookings Growth - Raymond James

Raymond James analyst Aaron Kessler reiterated an Outperform rating and $85.00 price target on GoDaddy Inc (NYSE: GDDY) after Total revenue of $760.5M increased 12% y/y and in-line with Street consensus of $761M and guidance of $755-765M. Domains revenue of $345M increased 12% y/y, Hosting & Presence revenue of $285M increased 8% y/y, and Business Applications revenue of $130M increased 22% y/y. Unlevered FCF (uFCF) of $191.3M was modestly
below street estimate of $194M.

The analyst stated "GDDY’s new CEO, Aman Bhutani, noted 2020 priorities include delivering a stronger platform, increasing the pace of experimentation, and accelerating the delivery of the product, experiences, and outcomes. While we believe there were some concern that this means a ramp in spend, we believe GDDY can achieve this is in a disciplined manner".

For an analyst ratings summary and ratings history on GoDaddy Inc click here. For more ratings news on GoDaddy Inc click here.

Shares of GoDaddy Inc closed at $62.96 yesterday.

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