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GoDaddy Inc - GDDY STOCK NEWS

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 Ethereum Name Service (ENS) to seamlessly link domain names with blockchain technology, providing users with a cost-free and effortless process. The collaboration aims to bridge the gap between DNS and blockchain, offering enhanced security and reliability to domain owners and crypto wallet holders.
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GoDaddy announces partnership with leading e-commerce platform, boosting revenue by 15% in Q4 2023.
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Starboard Value LP, a significant stockholder of GoDaddy Inc. (NYSE: GDDY), has announced its belief in the company's potential for growth and profitability. They view the company's recent disclosure of improved profitability targets as a positive step and believe that GoDaddy remains undervalued. Starboard intends to closely monitor the company's upcoming Q4 FY23 earnings call and March 2024 investor day to ensure appropriate operating and financial targets are set for the near, medium, and long-term. They remain open to working constructively with management and the board.
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GoDaddy announces partnership with major e-commerce platform, expected to boost revenue and market share. The partnership aims to provide seamless integration for small businesses, with potential for significant growth in the coming years.
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Steeped Pearl Tea, co-founded by KaShala Smith and Dominique Todd-Shumate, started from a college dorm room and has now grown into a successful business. KaShala's entrepreneurial journey, inspired by her time in the U.S. Army, led to the transformation of her love for tea into a thriving venture.
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GoDaddy Inc. announced the closing of a credit agreement refinancing, with a new $1,752 million tranche of term loans maturing in 2029. The Tenth Amendment to the Second Amended and Restated Credit Agreement provides for the Replacement Term Loans, used to refinance all outstanding Existing Tranche B-5 Term Loans.
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GoDaddy Inc. (NYSE: GDDY) will release financial results for the fourth quarter and fiscal year 2023 on February 13, 2024, followed by a webcast and an Investor Day on March 6, 2024. Analysts and institutional investors can request an invitation to attend the event.
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GoDaddy Inc. (GDDY) allocates $1,752 million tranche of term loans to refinance outstanding loans. The transactions are anticipated to close in the first quarter of 2024, subject to conditions.
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GoDaddy (GDDY) reveals insights from its Venture Forward Research Initiative, highlighting the impact of microbusinesses on the economy, the changing American Dream, and the entrepreneurial spirit in the U.S. and U.K.
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GoDaddy (GDDY) podcast features inspiring interviews with employees who achieved career growth through internal promotions and movement, providing tips, best practices, and advice for career management.
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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
Link
United States of America
TEMPE