JPMorgan analyst Sterling Auty says shares of GoDaddy (GDDY) fell yesterday after VeriSign's (VRSN) domain name additions for the December quarter came in below expectations. Weakness related to renewals of Chinese names is likely part of the reason for the shortfall, but GoDaddy's exposure to the country is still very small, Auty tells investors in a research note. The analyst views VeriSign's weakness as only a partial read through for GoDaddy and notes the company's data is only an indicator of .com and .net. There are hundreds of other domains, Auty points out. He keeps a Neutral rating on GoDaddy shares.

Consensus $57B. Cuts FY24 CapEx view to $30M-$40M from $35M-$45M. Backs FY24 effective tax rate view of 21%-24%. Sees FY24 operating expense $1.47B-$1.62B. Guidance taken from Q1 earnings conference call.