GoDaddy Outlines Long-Term Profitable Growth Strategy At Investor Day; Sees 6%-8% Annual Revenue Growth Between 2024-2026, Fueled By Acceleration In Its Applications & Commerce Segment
Portfolio Pulse from Benzinga Newsdesk
GoDaddy Inc. (NYSE:GDDY) announced at its Investor Day in Tempe, Arizona, its long-term growth strategy, expecting 6%-8% annual revenue growth from 2024 to 2026, primarily driven by its Applications & Commerce segment. The company aims for a 33% normalized EBITDA margin by 2026 and projects over $4.5 billion in cumulative free cash flow through 2026. This growth is supported by innovations like GoDaddy Airo, an AI-powered solution for small businesses. GoDaddy also plans to continue its share buyback program, with $1.4 billion remaining under current authorizations.
March 06, 2024 | 7:46 pm
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GoDaddy Inc. projects 6%-8% annual revenue growth from 2024 to 2026, a 33% EBITDA margin by 2026, and over $4.5 billion in cumulative free cash flow, driven by its Applications & Commerce segment and innovations like GoDaddy Airo.
GoDaddy's ambitious growth targets and strategic focus on innovation and operational excellence are likely to positively influence investor sentiment and stock price in the short term. The emphasis on expanding its Applications & Commerce segment, coupled with the potential of GoDaddy Airo, positions the company for sustainable growth. The continuation of the share buyback program further supports the positive outlook.
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