Godaddy Inc Stock Price, News & Analysis

GoDaddy (GDDY) announced it has entered into accelerated share repurchase agreements totaling $750 million for Class A common stock, a significant component of its $3 billion multi-year share repurchase plan authorized by its Board of Directors. The final settlement is expected in Q2 2022. Since 2018, GoDaddy repurchased around 24 million shares for approximately $1.53 billion, demonstrating its commitment to enhancing shareholder value.

GoDaddy hosted a virtual investor day on February 11, 2022, highlighting its strategy to empower entrepreneurs by enhancing digital identity and commerce solutions. The company announced a $3 billion share repurchase plan, including a $750 million accelerated buyback in Q1 2022. GoDaddy introduced two new revenue pillars: Applications & Commerce, contributing 30% of 2021 revenue, and Core Platform, comprising 70%. The firm targets a 10% annual revenue growth and aims for $3 billion in unlevered free cash flow through 2024. CEO Aman Bhutani emphasized the importance of supporting customers in a changing business landscape.

GoDaddy reported strong Q4 and full-year 2021 financial results, achieving over $1 billion in quarterly revenue for the first time. Fourth-quarter revenue totaled $1,019.3 million, a 16.6% increase year-over-year, contributing to a full-year revenue of $3,815.7 million, up 15%. The company announced a $3 billion share repurchase plan and grew its annual recurring revenue (ARR) from its 'Create and Grow' products by 19%. For 2022, GoDaddy projects revenue between $4.14 billion and $4.16 billion, representing a 9% growth. Net income improved significantly, reaching $242.8 million for the year.

GoDaddy (NYSE: GDDY) announced its short film Big Water Summer: A Creation Story has been selected for the SXSW Film Festival. The film tells the story of Cherilyn Yazzie, a Navajo Nation entrepreneur, as she navigates crop challenges, drought, and pandemic hardships while operating her farm, Coffee Pot Farms. GoDaddy highlights the resilience of small business owners adapting to difficulties. The film will screen on March 13, 14, and 17, 2022, showcasing the entrepreneurial spirit amidst significant obstacles.

GoDaddy's Empower Baltimore program launches to support local microbusinesses by enhancing their web presence. In partnership with Impact Hub Baltimore, the initiative offers programming, mentorship, and free GoDaddy products, including domains and websites. The program will host five cohorts throughout the year, with a review process for applicants. Additionally, storytelling events will spotlight Baltimore's creative communities. The first launch event is scheduled for Feb. 17 at Baltimore Center Stage. GoDaddy aims to empower over 150,000 microbusinesses in the area, promoting local economic growth.

GoDaddy Inc. (NYSE: GDDY) will release its financial results for the fourth quarter and fiscal year 2021 on February 10, 2022, after the market closes. Following the release, there will be a conference call at 5:00 p.m. ET, accessible via registration. Additionally, GoDaddy will host a virtual investor day on February 11, 2022, at 1:00 p.m. ET, featuring presentations on its long-term strategy and financial framework.

GoDaddy Inc. (NYSE: GDDY) announced that Roger Chen has been appointed as Chief Operating Officer, effective January 3, 2022. CEO Aman Bhutani praised Chen's leadership and operational excellence, highlighting his successful tenure as President of the Domain Registrars and Investors business. Chen has been with GoDaddy since 2015, rising through various leadership roles in the Asia Pacific region. GoDaddy continues to empower entrepreneurs globally by providing tools and resources to succeed online.

GoDaddy Inc. (NYSE: GDDY) announced its definitive agreement to acquire Pagely, a leader in Managed WordPress since 2009. This acquisition aims to leverage Pagely's platform expertise to enhance GoDaddy's WooCommerce SaaS offerings, targeting elevated reliability and scalability. WooCommerce powers 94% of WordPress eCommerce stores, positioning GoDaddy to further empower small businesses. Despite the acquisition, Pagely will maintain its Managed WordPress services for enterprise clients. This move reflects GoDaddy's commitment to improving the WordPress ecosystem.