GoDaddy‘s (NYSE: GDDY) shares have outperformed the Zacks Computer & Technology sector as well as its peers Shopify (NYSE: SHOP), BigCommerce (NASDAQ: BIGC) and Alphabet on a year-to-date (YTD) basis.
While GDDY's shares have returned 57.7%, Alphabet increased 16.9%. Shopify and BIGC registered declines of 4.9% and 39.8%, respectively, year to date. The broader sector has appreciated 20.7% over the same timeframe.
GoDaddy's robust stock price performance has been driven by its better-than-expected financial results and impressive growth profile.
In second-quarter 2024, GDDY posted revenues of $1.12 billion, which increased 7% year over year on a reported basis and a constant-currency (cc) basis. The upside underscores its robust performance, particularly in the Applications and Commerce segment.
GoDaddy Inc. Price and Consensus
GoDaddy Inc. price-consensus-chart | GoDaddy Inc. Quote
The question investors should now ask is whether this bull run will ...
