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.
Rhea-AI Summary
GoDaddy's Venture Forward research initiative released the Microbusiness Activity Index (MAI) report for Q2 2023. The MAI scores by county show higher scores in urban areas compared to rural and suburban areas. In terms of e-commerce, Media and Personal Services experienced the highest growth in online revenue, while Events and Weddings saw a decline. The report aims to provide insights into the impact of online microbusinesses on local economies.
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Arpan Gupta Joins GoDaddy, Shares Passion for Software Development
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Pilates King CEO Ade McCray aims to make Pilates more accessible through digital skills and resources. Short-term goal is to launch a mobile app. Empower by GoDaddy program helped fill knowledge gaps. Positive impact on stock price expected.
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GoDaddy's Venture Forward research initiative provides a snapshot of the state of microbusinesses, highlighting their impact on local economies. Each additional microbusiness per 100 people in a county increases household median income by almost $500/year. About seven new jobs are created by each microbusiness entrepreneur on a county-level. Microbusiness density has shown growth in both rural and suburban areas. Top cities with the highest microbusiness counts include New York, Las Vegas, and Miami. Scottsdale and Irvine rank highest in microbusiness density.
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GoDaddy's Venture Forward research initiative reveals that one in three U.S. microbusinesses contribute 51% or more to household income.
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GoDaddy undervalued with opportunities for shareholder value creation
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GoDaddy intern turned employee Jenny Luong shares her positive experience and excitement about working at GoDaddy. She appreciates the supportive and collaborative work environment and the opportunity to work on a product used by people she knows. No concrete business takes affecting stock price were found in the PR.
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GoDaddy's Venture Forward research initiative quantifies the presence and impact of online microbusinesses on local economies. Each additional microbusiness per 100 people in a county increases household median income by almost $500/year and creates about seven new jobs. 73% of microbusinesses have a positive outlook for their business. 1 in 7 microbusinesses started since the pandemic were founded by black women.
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Daniel Shafer shares his story of working at GoDaddy and his passion for computers. He is currently a Site Reliability Engineer Supervisor. No concrete business takes affecting stock price were found in the PR.
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GoDaddy's social impact program, Empower by GoDaddy, aims to support small business owners through in-person interactions and resources. The program relies on employee volunteers to provide mentorship and expertise. The emphasis on community-driven support and collaboration is highlighted. No concrete business takes affecting stock price.
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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