Why GoDaddy (GDDY) is a Top Momentum Stock for the Long-Term
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Is This 1 Momentum Stock a Screaming Buy Right Now?
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
GoDaddy (GDDY)
GoDaddy’s solutions serve 21 million customers that include independents, WebPros, Domain Registrars and Investors, and Third-Party Registrars and Corporate Domain Portfolio owners.
GDDY is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of B and VGM Score of B. Shares are up 0.1% over the past one week and up 9.3% over the past four weeks. GDDY has gained 93.4% in the last one-year period as well. Looking at trading volume, an average of 1,132,994.25 shares exchanged hands over the last 20 trading days.
Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Seven analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $1.77 to $6.50 per share. GDDY boasts an average earnings surprise of 13.2%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding GDDY to their portfolios.
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GoDaddy Inc. (GDDY) : Free Stock Analysis Report
