Speaking to Benzinga, B Riley & Co Analyst Sameet Sinha said that GoDaddy Inc GDDY was a great market leader.
Addressing the company's debt load, Sinha felt that it was due to a leveraged acquisition of the company.
While GoDaddy had been "saddled" with debt, Sinha did not think that the company took on debt to operate the business, rather, it had to do with its acquisition by private equity players.
Related Link: Will GoDaddy's IPO Be As Flashy As Its Super Bowl Ads?
The analyst also noted that the company was moving beyond just web hosting and towards providing comprehensive solutions to customers through productivity applications.
Shares of GoDaddy recently traded at $26.25, up 31.25 percent.
Kevin Riley and Brianna Valleskey contributed to this report.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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