Welcome to our dedicated page for GoDaddy news (Ticker: GDDY), a resource for investors and traders seeking the latest updates and insights on GoDaddy stock.
GoDaddy Inc. (NYSE: GDDY) is a global leader in domain registration and web services, helping millions of entrepreneurs start, grow, and scale their businesses online. Founded with the mission to make it easy and affordable for people to get their ideas online, GoDaddy has evolved into a comprehensive platform offering domain registration, website hosting, security, design, business productivity tools, commerce solutions, and domain registry services.
GoDaddy primarily serves micro- to small businesses, website design professionals, registrar peers, and domain investors. In 2021, the company expanded its offerings by acquiring payment processing platform Poynt, enabling it to offer omnicommerce solutions, including online payment gateways and offline point-of-sale devices.
Recent Achievements and Current Projects:
- In February 2024, GoDaddy's Venture Forward research initiative, in collaboration with Nasdaq and Wells Fargo, highlighted the growing impact of women-led microbusinesses. The panel discussed challenges like access to capital and provided insights to support women entrepreneurs.
- GoDaddy reported strong financial results for Q1 2024, with a focus on sustainable growth and innovation. The company repurchased 2.8 million shares year-to-date, demonstrating solid financial health.
- GoDaddy implemented infrastructure simplifications and restructuring efforts to reduce operating expenses and improve cash flows, impacting approximately 180 employees.
- In May 2024, GoDaddy closed a $1 billion tranche of term loans maturing in 2031 to refinance and extend the maturity date of previous loans, enhancing its financial flexibility.
Financial Condition and Outlook:
As of March 31, 2024, GoDaddy had $664 million in cash and cash equivalents, total debt of $3.9 billion, and net debt of $3.2 billion. The company expects Q2 2024 revenue to range between $1.10 billion and $1.12 billion, with full-year 2024 revenue projected at $4.50 billion to $4.56 billion. GoDaddy aims for a full-year normalized EBITDA margin of approximately 29% and expects unlevered free cash flow of at least $1.4 billion.
For more information, visit GoDaddy's website or their Investor Relations page.
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GoDaddy partners with Upwork to enhance opportunities for web designers and developers. GoDaddy becomes Upwork's first web presence partner, connecting businesses with skilled freelancers specializing in WordPress and web development. The partnership aims to increase work opportunities, provide access to trusted experts, and offer exclusive deals on GoDaddy products for registered freelancers.
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GoDaddy announces strategic partnership with leading e-commerce platform to enhance online shopping experience for customers.
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GoDaddy's Venture Forward Research Initiative, in partnership with UCLA Anderson Forecast economists, reveals the significant impact of microbusiness entrepreneurship on the economy, job creation, income growth, and unemployment reduction.
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GoDaddy announces partnership with AI startup to enhance customer experience
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GoDaddy's Venture Forward Research Initiative reveals interesting insights into the demographics and earnings of microbusiness owners in the U.S. and the U.K. The data shows that older generations in the U.S. earn more than their counterparts in the U.K., with 63% of microbusiness entrepreneurs in the U.S. being Generation X or baby boomers, compared to 49% in the U.K. Additionally, one in six microbusiness owners across all generations earn over $100K or £180K, with significant variations in earnings based on age groups. Despite higher earnings, U.S. baby boomers exhibit less optimism compared to other generations.
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GoDaddy Inc. (GDDY) will release its financial results for Q1 2024 on May 2, 2024, after the U.S. stock market closes. A live webcast hosted by GoDaddy management will be available on their Investor Relations website.
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GoDaddy announces strategic partnership with leading e-commerce platform to enhance online shopping experience.
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GoDaddy and UCLA Anderson Forecast's research reveals that online microbusinesses with 10 or fewer employees are crucial in creating jobs and reducing unemployment rates in the U.S. Adding 1,000 new microbusiness entrepreneurs in a county can decrease the unemployment rate by 0.11 percentage points, showcasing the significant impact of small businesses on the economy.
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GoDaddy's new study reveals that 75% of entrepreneurs believe generative AI gives them a competitive edge. The research shows a significant increase in GenAI usage among small business owners, with 73% trying the technology and 26% using it for business purposes. Entrepreneurs are optimistic about GenAI's potential to enhance their businesses and compete with larger corporations.
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GoDaddy's Venture Forward Research Initiative, in collaboration with Nasdaq Entrepreneurial Center and Wells Fargo Foundation, conducted a workshop in February 2024 to discuss data on women-led entrepreneurship. The panel highlighted the challenges women business owners face in accessing capital despite the increasing number of women-owned businesses.
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FAQ
What is the current stock price of GoDaddy (GDDY)?
The current stock price of GoDaddy (GDDY) is $196.35 as of November 22, 2024.
What is the market cap of GoDaddy (GDDY)?
The market cap of GoDaddy (GDDY) is approximately 27.1B.
What services does GoDaddy provide?
GoDaddy offers domain registration, website hosting, security, design, business productivity tools, commerce solutions, and domain registry services.
Who are GoDaddy's primary target customers?
GoDaddy primarily targets micro- to small businesses, website design professionals, registrar peers, and domain investors.
What recent acquisitions has GoDaddy made?
GoDaddy acquired the payment processing platform Poynt in 2021 to expand its omnicommerce solutions, including online payment gateways and offline point-of-sale devices.
What is GoDaddy Venture Forward?
GoDaddy Venture Forward is a research initiative launched in 2018 that analyzes the impact of over 20 million online microbusinesses on local economies.
What financial results did GoDaddy report for Q1 2024?
GoDaddy reported strong Q1 2024 results, focusing on profitable growth, with revenue growth driven by key initiatives and innovation.
How much cash and debt does GoDaddy have?
As of March 31, 2024, GoDaddy had $664 million in cash and cash equivalents and total debt of $3.9 billion, with net debt at $3.2 billion.
What are GoDaddy's revenue expectations for 2024?
GoDaddy expects full-year 2024 revenue to be between $4.50 billion and $4.56 billion, representing a year-over-year growth of 6.5% at the midpoint.
What restructuring efforts did GoDaddy implement recently?
In Q1 2024, GoDaddy implemented restructuring efforts, including reducing its workforce by approximately 180 employees, to cut operating expenses and improve cash flow.
What are GoDaddy's plans for free cash flow in 2024?
GoDaddy expects unlevered free cash flow of at least $1.4 billion and free cash flow of at least $1.2 billion for the year 2024.
How has GoDaddy expanded its financial flexibility?
In May 2024, GoDaddy closed a $1 billion tranche of term loans maturing in 2031, refinancing and extending the maturity date of previous loans.
GoDaddy Inc
NYSE:GDDY
GDDY Rankings
GDDY Stock Data
27.06B
139.49M
0.65%
97.73%
2.48%
Software - Infrastructure
Services-computer Integrated Systems Design
United States of America
TEMPE