GoDaddy added to S&P 500 with strong financial metrics and potential growth.

From Yahoo Finance: 2024-06-29 14:30:00

The S&P 500 index undergoes quarterly rebalancing to maintain eligibility requirements for companies. One new addition is GoDaddy (NYSE: GDDY), with strong financial metrics including 7% revenue growth year over year and profitable core segments.

GoDaddy’s total customer count remained flat but revenue growth and profit expansion indicate a sticky user base. With a 5% rise in average revenue per user, GoDaddy may be successfully cross-selling products.

As the economy rebounds and new businesses emerge, GoDaddy, targeting small and midsize enterprises, stands to benefit. Trading at a P/E ratio of 12, GoDaddy’s undervalued stock and potential growth make it a compelling choice for investors.



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