GoDaddy Inc. (GDDY) Monthly Report
Publication Date: September 22, 2024
Company Overview
GoDaddy Inc. (GDDY), headquartered in Tempe, Arizona, has established itself as a frontrunner in the technology sector since its inception in 1997. The company specializes in cloud-based products and services that empower small businesses, individuals, and organizations to build a robust online presence. Operating primarily in the software-infrastructure industry, GoDaddy offers diverse solutions through two main segments: Applications and Commerce, which provides website management and e-commerce tools, and Core Platform, focusing on domain registration and hosting services. With total revenues reaching approximately $4.4 billion, GoDaddy demonstrates strong financial performance and solid positioning in a competitive market.
Investment Summary
Analysts have issued a “buy” recommendation for GoDaddy, emphasizing its substantial growth prospects. The current stock price stands at $160.55, below the target mean price of $170.01 and the target high price of $190.00, suggesting significant upside potential. With approximately 140,972,992 shares outstanding and a short interest of only 3.23%, market sentiment remains cautiously optimistic about GoDaddy’s future. The range between the target high price and target low price of $150.00 highlights analysts’ consensus on promising growth opportunities.
Analyzing price movement, the stock trades well above its fifty-day moving average of $153.91, indicating strong momentum and investor confidence. The stock has also seen a notable rise from its fifty-two week low of $71.15, approaching its high of $167.65. Combined with a recommendation score averaging 2.2 from 15 analysts, the data presents a compelling argument for stakeholders to consider increasing their positions in anticipation of future price appreciation in the medium term.
Conclusion
GoDaddy Inc. continues to carve a significant niche in the technology sector, boasting robust revenue streams and a positive outlook from analysts. Given the company’s proven ability to enhance its customers’ online operations and its favorable position against market challenges, investors may find GoDaddy a compelling addition to their portfolios as it seeks to capitalize on growth in the digital landscape.
| Metric | Value |
|---|---|
| Market Cap | $22.6b |
| Total Debt | $3.9b |
| Total Cash | $588.1m |
| Shares Outstanding | 141.0m |
| Float Shares | 140.3m |
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