UPDATE: Rosenblatt Downgrades GoDaddy Inc (GDDY) to Neutral

August 5, 2021 7:23 AM EDT
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Price: $69.33 -2.54%

Rating Summary:
    16 Buy, 8 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 10 | Down: 12 | New: 30
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(Updated - August 5, 2021 7:23 AM EDT)

Rosenblatt analyst Mark Zgutowicz downgraded GoDaddy Inc (NYSE: GDDY) from Buy to Neutral with a price target of $85.00 (from $110.00).

The analyst comments "We recommend GDDY investors move to the sidelines in front of what looks to be a meaningful NTM reset in Hosting and Presence (H&P) led in part by a post-pandemic demand pause for Websites + Marketing (W+M) solutions. We also expect a similarly significant '22E reset in the Domain segment, which faces steep aftermarket compares originating from 4Q20 when its list for sale tool and other aftermarket innovations were introduced. Prior to the 2Q print, consensus '22E Domain growth of +9% y/y compared our +5% expectation."

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 $83.50 yesterday.

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