GoDaddy Inc Shares Dip 6% Following Disappointing Q2 FY23 Financial Results
August 9, 2023
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GODADDY ($NYSE:GDDY): GoDaddy Inc., the world’s largest web hosting company, has seen its stock prices dip by approximately 6% after the company reported its Q2 FY23 financials, which were well below market expectations. The company’s financial results for the second quarter of FY23 showed a decline in revenue and earnings compared to the same period last year, resulting in a dip in its stock prices. This was attributed to a slowdown in customer spending due to the ongoing pandemic. Moreover, the company also experienced higher costs associated with the increased utilization of cloud computing resources.
The disappointing financial numbers have raised questions about the sustainability of the company’s growth pace and whether it can continue to maintain its competitive advantage in the web hosting market. Investors are now closely monitoring the company’s performance in the upcoming quarters to determine if GoDaddy Inc. can navigate through these difficult times and keep its market-leading position.
Analysis
At GoodWhale, we conducted an analysis of GODADDY INC‘s fundamentals and concluded that its intermediate health score of 6/10 implies it is likely to sustain future operations in times of crisis. We classify GODADDY INC as a ‘rhino’ company, meaning it has achieved moderate revenue or earnings growth. Given these details, the type of investors who may be interested in such a company are those looking for good asset and growth prospects but not necessarily dividend income. GODADDY INC is strong in asset, growth, and profitability, but weak in dividend. Therefore, investors seeking long-term capital appreciation may find this company attractive. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Godaddy Inc. More…
| Total Revenues | Net Income | Net Margin |
| 4.16k | 323.6 | 8.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Godaddy Inc. More…
| Operations | Investing | Financing |
| 946.2 | -153.5 | -981.3 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Godaddy Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.79k | 7.46k | -4.5 |
Key Ratios Snapshot
Some of the financial key ratios for Godaddy Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.8% | 34.5% | 11.8% |
| FCF Margin | ROE | ROA |
| 20.5% | -59.8% | 4.5% |
Peers
As of March 2020, GoDaddy has approximately 19 million customers and over 77 million domain names under management. The company is headquartered in Scottsdale, Arizona, and employs more than 4,000 people. Hipay Group SA is a French provider of online and mobile payment solutions. The company offers a range of services, including credit and debit card processing, e-commerce, and fraud prevention. Hipay Group SA has over 500 employees and is headquartered in Paris, France. Ease2pay NV is a Belgian provider of online payment solutions. The company offers a range of services, including credit and debit card processing, e-commerce, and fraud prevention. Ease2pay NV has over 200 employees and is headquartered in Brussels, Belgium. Spenda Ltd is a UK-based provider of online payment solutions. The company offers a range of services, including credit and debit card processing, e-commerce, and fraud prevention. Spenda Ltd has over 100 employees and is headquartered in London, England.
– Hipay Group SA ($LTS:0RA7)
Hipay Group SA is a global provider of online payment solutions. The company offers a range of services, including credit and debit card processing, mobile payments, and cross-border payments. Hipay Group SA has a market cap of 21.46M as of 2022 and a return on equity of -12.85%. The company’s products and services are used by merchants in a variety of industries, including e-commerce, travel, and gaming.
– Ease2pay NV ($LTS:0E63)
Ease2pay NV is a provider of mobile payments solutions. The company offers a range of services, including mobile payment processing, mobile wallet management, and merchant acquiring. Ease2pay NV has a market cap of 41.15M as of 2022. The company’s return on equity was -6.13% for the year ended December 31, 2021.
– Spenda Ltd ($ASX:SPX)
Spenda Ltd is a publicly traded company with a market capitalization of $38.78 million as of 2022. The company has a negative return on equity of -53.06%, meaning that it has lost money for shareholders in the past year. Spenda Ltd is a provider of online marketing and advertising services. The company operates in the United Kingdom, the United States, Canada, Australia, and New Zealand.
Summary
GoDaddy Inc, an American publicly traded internet domain registrar and web hosting company, recently reported its Q2 FY23 financial results. The company’s performance was lower than expected, causing GoDaddy shares to dip by 6%. Going forward, investors should closely monitor GoDaddy’s progress to ensure it can continue to generate high returns and build on its market-leading position.
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