GoDaddy (NYSE: GDDY) has received a positive outlook from RBC Capital analyst Brad Erickson, who has reiterated the company with an Outperform rating and a $124 price target. Erickson is optimistic about GoDaddy’s acquisition strategy and expects further margin expansion in the upcoming quarters. Despite the recent increase in GoDaddy’s stock price, closing at $97.07, Erickson’s price target implies a potential upside of 30%. The company, a leader in domain name registration and web hosting services, continues to attract attention from analysts due to its strong focus on customer acquisition and growth opportunities.
GoDaddy Inc. (GDDY) Stock Surges 3.88% on Positive Momentum and After-Hours Trading Gains
On March 7, 2024, GoDaddy Inc. (GDDY) saw a significant increase in its stock performance. GDDY is currently trading near the top of its 52-week range and above its 200-day simple moving average, indicating positive momentum in the stock. The price of GDDY shares increased by $4.25 since the market last closed, representing a 3.88% rise. The stock closed at $113.82 on March 7, and has since risen by an additional $1.02 in after-hours trading. GoDaddy Inc. is a well-known technology company that provides domain registration, web hosting, and other online services. Overall, the positive price momentum and after-hours trading gains indicate that GDDY stock is performing well and attracting investor attention. Investors may want to keep an eye on GoDaddy Inc. as it continues to show positive growth and potential for further gains in the future.
GoDaddy Inc. Reports Strong Financial Results for 2023, Fourth Quarter
On March 7, 2024, GoDaddy Inc. (GDDY) stock performance was in the spotlight as the company released its financial results for the past year and the fourth quarter. According to data from CNN Money, GoDaddy reported total revenue of $4.24 billion for the past year, which represented a 3.72% increase compared to the previous year. However, total revenue remained flat at $1.10 billion for the fourth quarter.
One of the most significant highlights of the financial report was the impressive growth in net income. GoDaddy reported a net income of $1.37 billion for the past year, marking a substantial 290.35% increase compared to the previous year. The company also reported a net income of $1.13 billion for the fourth quarter, representing a remarkable 766.18% increase compared to the previous quarter.
Earnings per share (EPS) also showed strong growth for GoDaddy. The company reported an EPS of $9.08 for the past year, marking a 316.13% increase compared to the previous year. Similarly, EPS for the fourth quarter stood at $7.85, showing a significant 784.38% increase compared to the previous quarter.
Overall, GoDaddy’s financial performance for the past year and the fourth quarter demonstrated strong growth in net income and earnings per share. Investors and analysts may view these results positively, as they indicate that the company is on a solid growth trajectory. The stock performance on March 7, 2024, may have reflected these positive financial results, with potential gains for GDDY stock. Investors and market watchers will likely continue to monitor GoDaddy’s performance closely to assess its future growth prospects.
