The Investor
26 Aug 2026, 15:28
GoDaddy Falls 4.2% as Wells Fargo Downgrades Stock to Underweight
GoDaddy (NYSE: GDDY) shares fell about 4.2% after Wells Fargo downgraded the stock from Equal Weight to Underweight and lowered its price target, adding fresh pressure to the internet-services company.
Analyst Alec Brondolo cut the price target to $76 from $80. Compared with the current $95.55 share price, the new target implies roughly 20% downside.
Wells Fargo Turns More Bearish on GoDaddy
The downgrade from Equal Weight to Underweight is particularly negative because it indicates Wells Fargo now expects GoDaddy to underperform relative to its coverage universe. The simultaneous reduction in the price target reinforces that more cautious stance.
GoDaddy operates in the internet infrastructure and digital-services market, providing domains, website-building, hosting and commerce tools primarily to small businesses and entrepreneurs. The company has increasingly incorporated AI into its product ecosystem, but it operates in a highly competitive market that includes website-building, e-commerce and cloud-based business platforms.
Still, the combination of an Underweight downgrade and a price target substantially below the current share price provides a clear probable catalyst for GDDY's 4.2% decline. The $76 target suggests Wells Fargo sees meaningful downside risk even after today's selloff.
GoDaddy (NYSE: GDDY) shares fell about 4.2% after Wells Fargo downgraded the stock from Equal Weight to Underweight and lowered its price target, adding fresh pressure to the internet-services company.
Analyst Alec Brondolo cut the price target to $76 from $80. Compared with the current $95.55 share price, the new target implies roughly 20% downside.
Wells Fargo Turns More Bearish on GoDaddy
The downgrade from Equal Weight to Underweight is particularly negative because it indicates Wells Fargo now expects GoDaddy to underperform relative to its coverage universe. The simultaneous reduction in the price target reinforces that more cautious stance.
GoDaddy operates in the internet infrastructure and digital-services market, providing domains, website-building, hosting and commerce tools primarily to small businesses and entrepreneurs. The company has increasingly incorporated AI into its product ecosystem, but it operates in a highly competitive market that includes website-building, e-commerce and cloud-based business platforms.
Still, the combination of an Underweight downgrade and a price target substantially below the current share price provides a clear probable catalyst for GDDY's 4.2% decline. The $76 target suggests Wells Fargo sees meaningful downside risk even after today's selloff.
