GoDaddy slides after Wells Fargo downgrade on AI search threat
-4.26% to $95.54 from $99.79
What moved GDDY
- Wells Fargo analyst Alec Brondolo downgraded GoDaddy to Underweight from Equal Weight and cut the price target to $76 from $80.
- The note said AI Overviews now appear in about 48% of searches, up from 10% in December.
- Wells Fargo said GoDaddy’s above-peer domain pricing raises the risk that AI tools and chatbots increasingly recommend cheaper competitors.
- Shares fell more than 4% on a day when the S&P 500 was little changed.
Sources: GuruFocus · The Motley Fool