GDDY - GoDaddy's Strong Foundation Pleases Analyst But Shaky Execution Raises Concern | Benzinga
Oppenheimer analyst Ken Wong initiated coverage on GoDaddy Inc (NYSE: GDDY) at a Perform rating.
The analyst believed GoDaddy benefits from operating a low-churn, low-maintenance business thanks to its dominant market position in domains (~60% share of .com).
The analyst also saw its durable core business (domain/hosting/SSL) growing in mid-single-digits (under constrained macro conditions) and expects a return to "average" cohort behavior to push growth above double digits.
The analyst expected GoDaddy to operate with margins at least five ...