Total bookings moved up 14% from last year to $833.6 million, while average revenue per user advanced 7% to $158.
Outlook
The company expects its full-year 2020 revenues to be $3.315 billion, representing an 11% growth. It is looking for unlevered cash flow of $835 million for the year, up 14% from last year.
“GoDaddy continues to execute against its strategy – empowering everyday entrepreneurs through sage guidance, seamlessly intuitive experiences, and activating our community. We are well-positioned to deliver strong results for our customers, communities, and shareholders in 2020,” said CEO Aman Bhutani.
Uniregistry Buyout
Earlier in the day, GoDaddy said it agreed to acquire the domain registrar and marketplace businesses of Uniregistry. The transaction is tentatively scheduled to close in the second quarter.
Is GoDaddy a Buy?
The average target price on the stock indicates that GoDaddy’s near-term market value could go up by a quarter, from the current levels. Justifying the projection, analysts overwhelmingly recommend buying the stock.
Also see: GoDaddy Q3 2019 Earnings Conference Call Transcript
The shares have dropped about 3% so far in 2020 after a tough year marked by steady declines. The stock closed Thursday’s regular session slightly lower, before gaining in the after-hours immediately after the earnings announcement.