Market value: $11.9 billion
TipRanks consensus price target: $89.00 (29% upside potential)
TipRanks consensus rating: Strong Buy
GoDaddy (GDDY, $68.93) offers an all-in-one solution with everything customers need to design the perfect website, from domains to hosting and online marketing. But investors weren’t sold on the stock in 2019, with shares gaining just 5% with a little more than a week to go.
Analysts, however, aren’t dismissing GDDY.
In its most recent quarter, GoDaddy reported a 12% year-over-year increase in revenues to $760.5 million, beating Wall Street expectations. Domain revenue saw similar growth, while hosting and presence as well as business application revenue were up 8% and 22%, respectively.
“GDDY’s new CEO, Aman Bhutani, noted 2020 priorities include delivering a stronger platform, increasing the pace of experimentation, and accelerating the delivery of the product, experiences, and outcomes,” he writes. “While we believe there were some concern that this means a ramp in spend, we believe GDDY can achieve this is in a disciplined manner.”
Kessler’s $85 price target implies 23% upside from here. HIs rating is one…