Godaddy Inc Stock Price, News & Analysis

GoDaddy (NYSE: GDDY) announced the integration of its content design app, Over, into its Websites + Marketing platform, enhancing tools for entrepreneurs and small businesses. Users can now access a library of customizable photo and video templates directly within the website builder. This feature aims to simplify the creation of professional content, enabling users to design ads, logos, and social media posts effortlessly. The Over app remains available as a standalone option on major app stores, catering to users across all marketing tiers.

GoDaddy (GDDY) has expanded its Websites + Marketing Ecommerce by enabling customers to sell products directly on Instagram and Facebook. This integration allows automatic syncing of product details across platforms, streamlining inventory management and order fulfillment. As a Facebook Marketing Partner, GoDaddy helps small businesses reach customers where engagement is highest. Upcoming features include integration with Instagram Checkout and enhanced onboarding for Facebook Shops. The initiative supports entrepreneurs by providing tools to manage multiple online sales channels efficiently.

On September 14, 2020, GoDaddy (NYSE: GDDY) announced its acquisition of SkyVerge, a prominent WooCommerce product developer. This strategic move aims to enhance GoDaddy's WordPress capabilities and improve eCommerce solutions for entrepreneurs. SkyVerge offers over 60 extensions for WooCommerce, utilized by 100,000 merchants, highlighting its significance in the eCommerce space. GoDaddy's acquisition is expected to bolster its offerings and support its commitment to empowering everyday entrepreneurs online.

The GoDaddy Global Entrepreneurship Survey reveals the significant impact of the COVID-19 pandemic on microbusinesses, with 75% reporting revenue declines. Despite these challenges, many entrepreneurs are optimistic, with 70% expecting recovery within a year and 63% anticipating growth of at least 25% in the next 3-5 years. The survey of 5,265 businesses from ten countries shows resilience among very small business owners, with only 6% deeming their operations unsustainable. Notably, those with a website showed stronger recovery prospects, highlighting the importance of an online presence.

GoDaddy Inc. (GDDY) reported strong Q2 2020 financial results, with revenue reaching $806.4 million, up 9.4% year-over-year. Net cash from operations was $168.1 million, and unlevered free cash flow rose 10.8% to $185.9 million. The company settled its Tax Receivable Agreements for $850 million, reducing future tax obligations by approximately $1 billion. GoDaddy expects Q3 revenue of $835 million, aiming for a 10% annual growth rate. Total cash at the end of June stood at $772.7 million.

GoDaddy's Venture Forward research reveals that micro-businesses in the U.S. demonstrated resilience during the COVID-19 pandemic. Despite increased closures, the number of active ventures remained stable. The study highlights that adding one venture per 100 people can lead to a 0.05% reduction in unemployment. Moreover, counties with higher venture density fared better in job retention. The research emphasizes the importance of these small enterprises for local economies, showing that they contribute significantly to community recovery and prosperity.

GoDaddy (NYSE: GDDY) announced it will release its first-quarter financial results on August 5, 2020, after market closure. Management will conduct a conference call at 5:00 p.m. Eastern Time to discuss the results. Investors can pre-register for the call or listen to a live webcast on GoDaddy's investor relations website. GoDaddy aims to empower entrepreneurs globally, with 19 million customers utilizing its platforms for online success.

GoDaddy Inc. (NYSE: GDDY) reported continued strength in its business despite challenges from the COVID-19 pandemic. The company anticipates second quarter revenue to exceed the previous guidance of $790 million by approximately 1%. However, GoDaddy is restructuring its U.S. outbound sales, affecting about 814 employees and leading to pre-tax restructuring charges of around $15 million. The company expects these changes to have minimal impact on overall revenue, focusing on reinvestment to foster further growth.

On June 16, 2020, GoDaddy (NYSE: GDDY) announced an expansion of the #OpenWeStand movement, with major companies like Adobe, Cisco, LinkedIn, Mastercard, Microsoft, and Uber joining to support small business owners affected by COVID-19. This initiative provides essential resources, expert advice, and special offers to aid small businesses during challenging times. GoDaddy's commitment to enhancing the #OpenWeStand community is reflected in the increasing partnerships and a national ad campaign that has garnered over 60 million views.