GoDaddy Inc. was downgraded to neutral from buy at Monness, Crespi, Hardt ahead of its third-quarter earnings report Wednesday.
James Cakmak, the Monness, Crespi, Hardt analyst, said he was not making the downgrade for any structural issues, but rather the view that the shares may be constrained in the near-term.
“We are impressed by GoDaddy’s GDDY, -1.31% strategy and success, but await an upward change in our financial outlook or a better entry point to get behind the name again,” Cakmak wrote.
