GDDY Stock Recent News

GoDaddy Inc (NYSE:GDDY) has reported third-quarter revenue and earnings that beat expectations, supported by a strong performance from its Applications & Commerce (A&C) segment. The domain registrar and web hosting company posted revenue of $1.07 billion for the three months to September 30, 2023, up 3.5% and beating analysts' consensus estimate of $1.06 billion.

GoDaddy, Inc. (GDDY) Q3 2023 Earnings Call Transcript

Although the revenue and EPS for GoDaddy (GDDY) give a sense of how its business performed in the quarter ended September 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

GoDaddy (GDDY) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

GoDaddy (GDDY) collaborates with Paze to enable small businesses to boost their customer checkout experience.

GoDaddy Inc. provides website hosting and related software services globally. The worldwide market for website hosting services is expected to reach $180 billion by 2027, driven by increasing demand for web presence and cloud-based business functionality. GoDaddy's recent financial trends show slowing revenue growth.

Activist investor Starboard Value published a letter last month, highlighting how GoDaddy Inc. could trade at a higher valuation by taking certain value-accretive corporate actions. If GoDaddy finds success in optimizing its expenses, the company might be able to meet the "Rule of 40" faster than expected. My rating for GoDaddy is upgraded to a Buy, as I think that there are various options that the company can consider to unlock value.

Web hosting company GoDaddy has partnered with Paze, an online payment solution developed by Early Warning Services, to integrate Paze into GoDaddy's Online Store and GoDaddy Payments. The integration will provide small businesses with more convenient online checkout experiences for consumers and help eliminate abandoned online shopping carts, GoDaddy said in a Tuesday (Oct.

The stock market has been on a roller coaster ride in 2023, with the S&P 500 experiencing several sharp swings in both directions. As of early this week, the benchmark index was up 16.9% year-to-date (YTD) but down 2.6% from its annual high in July.

The activist investor holds about a 7.8% stake in the web-services provider company.