Update: Wedbush Cuts Price Target on GoDaddy to $93 From $109, Keeps Outperform Rating

MT Newswires Live08-03

(Updated to include Wedbush commentary)

Wedbush lowered its price target on GoDaddy (GDDY) to $93 from $109 following its Q2 results.

While the quarterly results were largely in-line, the full-year revenue guidance was tightened, with the high end lowered, and A&C bookings are expected to stay in the high single digits, analysts Ygal Arounian and Chase Tohanczyn wrote in a Monday note.

GoDaddy is accelerating its move into agentic web building/vibe coding, but the transition is impacting near-term growth and may limit margin upside due to higher compute costs, the analysts said.

GoDaddy has an average rating of overweight and mean price target of $105.87, according to analysts polled by FactSet.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 87.09, Change: +4.35, Percent Change: +5.26

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