UPDATE: Rosenblatt Downgrades GoDaddy Inc (GDDY) to Neutral
- Wall St tumbles on weak consumer sentiment, rising bond yields
- Ford (F) Stock Soars on $11.4 Billion EV Partnership with Battery Maker SK Innovation (SKOVF)
- Brent dips after topping $80 a barrel, highest since Oct 2018
- Piper Sandler Raises Estimates on Tesla (TSLA) Ahead of 'Best-Ever Quarter' in Q3
- Buy-the-dip Mentality Continues to Dominate, Last Week's $5.9 Billion Stock Inflows Were Fourth Largest Since 2008 - BofA
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."
Shares of GoDaddy Inc closed at $83.50 yesterday.
You May Also Be Interested In
- Nine Dragons Paper (Holdings) Limited (2689:HK) PT Raised to HK$11.50 at Goldman Sachs
- Berenberg Upgrades SES SA (SESG:FP) (SGBAF) to Buy
- DNB ASA (DNB:NO) (DNHBY) PT Raised to NOK167 at Barclays
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!