Chart of the Day: GoDaddy - GO!
Author's Note: GoDaddy (GDDY) was last featured on 11 /29/1923 when it closed at $97.05. Its gained 68% since then.
The Chart of the Day belongs to the technology company GoDaddy (GDDY) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 7/21 the stock gained 12.06%.
GoDaddy Inc. engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content. The segment also offers connected commerce comprising Smart Terminal, a dual screen all-in-one Point-of-Sale system that allows customers to manage in-store inventory and product catalogs and take payments; GoDaddy Payments, a payment facilitator that enables customers to accept all major forms of payments; and email service plans with a multi-feature web interface, and Microsoft Office 365 accounts that connects to customers' domains. The Core Platform segment offers domain products, including primary registrations, domain aftermarket platform, and domain name add-ons, as well as GoDaddy Registry, a provider of domain name registry services; and hosting and security services comprising shared website hosting, virtual private servers, and managed wordpress hosting services, as well as security products with a comprehensive suite of tools designed to help secure customers' online presence. The company serves small businesses, individuals, organizations, developers, designers, and domain investors. GoDaddy Inc. was founded in 1997 and is headquartered in Tempe, Arizona.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
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- 100% technical buy signals
- 125.29+ Weighted Alpha
- 1.14 - 60 month Beta (New Today)
- 133.01% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 13 new highs and up 12.26% in the last month
- Relative Strength Index 72.70%
- Technical support level at $161.80
- Recently traded at $162.99 with 50 day moving average of $146.27
Fundamental Factors:
- Market Cap $23.39 billion
- P/E 39.42
- Revenue expected to grow 7.00% this year and another 7.50% next year
- Earnings estimated to increase an additional 4.00% next year
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analyst gave 10 strong buy , 1 buy and 5 hold opinions on the stock
- Analysts' price targets are between $150 and $190
- Value Line gives the stock its above average rating of 2 with price targets between $102 and $189
- CFRAs MarketScope rates the stock a hold
- MorningStar rates the stock a below average 2 star with Fair Value at $120 or 36% overvalued
- 14,130 investors monitor the stock on Seeking Alpha
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
Provided Content: Content provided by Barchart. The Globe and Mail was not involved, and material was not reviewed prior to publication.