GDDY - Why GoDaddy's 2024 Margin Expectations Are Undervalued: Analyst Revises Price Target | Benzinga
B. Riley Securities analyst Naved Khan reiterated a Buy rating on GoDaddy Inc. (NYSE: GDDY), raising the price target to $107 from $102.
Khan is incrementally positive on GDDY, as the current Street expectations for 2024 EBITDA margin (26.5%) are arguably too low, with management reiterating 28% as a "floor" for margin next year.
The analyst is also bullish on the prospects of a pickup in revenue growth and its sustainability, given the strength in underlying drivers (gross ads, product attachment).
In addition, Khan adds that the rollout of price increases, easing FX headwinds, and ...