🔴 GDDY is trading 4% down today after UBS initiates with Neutral rating, lowers price target

GoDaddy shares are trading at $84.72 (-4.03%), underperforming a broader market rally after a new analyst rating.

• UBS initiated coverage on GoDaddy with a Neutral rating and lowered the price target to $100 from a prior $105, providing a specific catalyst for the stock's decline.
• The move comes after a strong May 1 earnings report where the company highlighted its AI Airo platform wins and reaffirmed its 2026 financial guidance.
• Broader markets are up after JOLTS data hinted at a cooling labor market, potentially opening the door for future Fed rate cuts.