Piper Jaffray Analyst Reiterates Overweight Rating For Godaddy Inc (GDDY)
Piper Jaffray analyst Gene Munster reiterates his Overweight rating for Godaddy Inc (NYSE:GDDY) following an examination of the company’s long term opportunities.
Munster notes that GDDY is one of the most “consistent executors in our local/SMB coverage,” causing the analyst to believe that the risk/reward for the company will be favorable in their upcoming earnings report.
The analyst also boasts confidence in GDDY’s international expansion. He explains, “We believe GoDaddy’s opportunity is large in international markets, particularly in markets where there is heavy fragmentation of supply (India, Brazil, China), as its scale and established practices can yield it both better pricing and better customer service than incumbent competitors.”
The analyst issues a price target of $38.00 for GDDY.
Gene Munster is ranked #10 of 4,058 analysts on TipRanks. Munster maintains a 61% success rate and a 16.1 % average return. When rating GDDY, the analyst upholds a 50% success rate with an average profit of 2.4%.