Piper Sandler Maintains Neutral Rating for GoDaddy: Here's What You Need To Know

Piper Sandler has decided to maintain its Neutral rating of GoDaddy GDDY and lower its price target from $88.00 to $84.00.

Shares of GoDaddy are trading down 3.57% over the last 24 hours, at $69.71 per share.

A move to $84.00 would account for a 20.5% increase from the current share price.

About GoDaddy

GoDaddy is a provider of domain registration and aftermarket services, website hosting, security, design, and business productivity tools, commerce solutions, and domain registry services. The company primarily targets micro- to small businesses, website design professionals, registrar peers, and domain investors. Since acquiring payment processing platform Poynt in 2021, the company has expanded into omnicommerce solutions, including offering an online payment gateway and offline point-of-sale devices.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.