GoDaddy (GDDY) Aids Small Business Marketing in Digital Sector
GoDaddy GDDY is expanding its footprint in the digital marketing sector with the latest Email Automation for Websites and Marketing. The latest solution helps small businesses address challenges in capturing and retaining customer attention.
Email Automation empowers businesses to effortlessly customize, schedule and automate email communications, aligning with a recent survey revealing that 55% of consumers prefer email as their primary channel for business interaction.
Tailored templates catering to various business needs, from welcome emails to order confirmations and appointment reminders, offer entrepreneurs a streamlined approach to engage their audience effectively.
Growth Prospects Plenty
The latest move will solidify GoDaddy’s footing in the global digital marketing landscape for small businesses.
GoDaddy Inc. Price and Consensus
GoDaddy Inc. price-consensus-chart | GoDaddy Inc. Quote
Per a Mordor Intelligence report, the digital market is expected to be valued at $1697.91 billion by 2030, exhibiting a CAGR of 21.32% between 2023 and 2028.
Strong momentum in the promising digital market is expected to instill investor optimism in the stock.
The latest move is in sync with the company’s deepening focus on small businesses and expanding clientele.
In the third quarter of 2023, GoDaddy introduced an AI-powered Instant Video feature to its Studio App, empowering small businesses to rapidly create compelling social media and video content, thereby amplifying customer engagement and seizing digital marketing opportunities.
In October, GoDaddy extended its reach in digital payments by partnering with Paze, integrating Paze's online payment solution to enhance checkout experiences for small businesses using GoDaddy Payments.
GoDaddy’s introduction of new updates to its WordPress Hosting product, infusing generative AI into WordPress to help small entrepreneurs, remains noteworthy.
All the endeavors mentioned above are likely to aid GoDaddy in acquiring numerous small businesses as customers, which, in turn, will drive its top-line growth in the near term.
However, softness in the company’s core platform remains a concern.
GoDaddy expects fourth quarter 2023 revenues in the band of $1.095-$1.115 billion. The Zacks Consensus Estimate for the same is pegged at $1.10 billion, suggesting a rise of 5.66%.
Zacks Rank & Other Stocks to Consider
Currently, GDDY carries a Zacks Rank #2 (Buy).
GDDY has gained 38.2% in the year-to-date period, underperforming the Computer & Technology growth of 43.6%.
Flex FLEX, NetEase NTES and Intel INTC are some other top-ranked stocks that investors can consider from the broader sector, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
FLEX, NTES and INTC shares have returned 16.7%, 41.2% and 56.1%, respectively, on a year-to-date basis.
Long-term earnings growth rates for Everbridge, NetEase and Intel are pegged at 12.39%,15.98% and 14.18%, respectively.
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