Analysts at Raymond James, Oppenheimer and RBC Capital fired off bullish takes on GoDaddy (GDDY) - Get GoDaddy, Inc. Class A Report after the web-hosting and internet-domain giant topped Wall Street's revenue estimates.
Shares of GoDaddy at last check shot up 10% to $78.10. In 2020 through Thursday, the shares had risen 4.3%.
Raymond James analyst Aaron Kessler boosted his price target to $89 a share from $85 while slapping an outperform rating on the Scottsdale, Ariz., company.
Kessler cited GoDaddy's increased profitability and bookings growth across a wide range of products, according to Bloomberg.
The Raymond James analyst is also projecting 10% revenue growth at GoDaddy over the long term, with a double-digit jump in free cash flow.
Meanwhile, analysts at Oppenheimer maintained their outperform rating and $88-a-share price target on GoDaddy.
They cited the internet-domain giant's "steady bookings drive" as well as their expectation of "highly accretive buybacks" over the next 12 to 18 months.
GoDaddy posted revenue of $780.4 million for the quarter that ended in December, beating the estimate of analysts surveyed by Zacks Investment Research. The figure came in above the $695 million the company generated in the year-earlier quarter.
Mark Mahaney, an analyst at RBC Capital, boosted his price target on GoDaddy by $1 a share to $82, citing solid fundamentals and "steady" revenue growth.
Overall, analysts are bullish on GoDaddy's prospects, with 11 buy ratings, three holds, and no sells, as well as an average price target of $89 a share, according to Bloomberg.