GoDaddy Inc Class A
GDDY: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$318.00 | Khlc | Tvybfxt |
GoDaddy Achieves Reasonable Growth in 2022 Despite Macroeconomic Headwinds; FVE Up 5% to $87
No-moat GoDaddy reported sound fiscal 2022 results amid a cycling of pandemic era tailwinds and challenging global macroeconomic conditions. While our longer-term forecasts are largely unchanged, we raise our fair value estimate 5% to $87 primarily due to time value of money. We continue to expect soft economic conditions in the near term to accelerate small business attrition, and to weigh on demand for higher value solutions, before a bounce back in 2024.