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GoDaddy Inc Class A - Stock Quote GDDY

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Morningstar's GoDaddy Inc Class A Stock Analysis

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GoDaddy Proves Resilient Amid Tapering Pandemic Tailwinds and Challenging Macroeconomic Conditions

Emma Williams Equity Analyst

Analyst Note

| Emma Williams |

GoDaddy delivered a sound first-quarter fiscal 2022 result amid a tapering of pandemic-era digitization tailwinds, geopolitical unrest, and challenging macroeconomic conditions. Group revenue increased 11% year on year, which we believe comfortably outpaced domain registration growth, implying higher average product uptake per customer. This result was supported by strong demand for website design, email attachment, and aftermarket domain sales. Adjusted EBITDA margin expansion was ahead of our expectations, increasing an impressive 120 basis points to 22.5%. This was underpinned by leverage on marketing expenses and partly offset by continued investment in product innovation, return-to-office expenses, and inflationary pressures.

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GoDaddy Inc Class A's Company Profile

Business Description

GoDaddy is a provider of domain registration and aftermarket services, website hosting, security, design, and business productivity tools, commerce solutions, and domain registry services. The company primarily targets micro- to small businesses, website design professionals, registrar peers, and domain investors. Since acquiring payment processing platform Poynt in 2021, the company has expanded into omnicommerce solutions, including offering an online payment gateway and offline point-of-sale devices.

2155 E. GoDaddy Way
Tempe, AZ, 85284
T +1 480 505-8800
Sector Technology
Industry Software - Infrastructure
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Aggressive Growth
Employees 6,611