Gain detailed insights into the trading activity of Congress members for GoDaddy on our government trades page. Stay updated on how elected officials are investing in GDDY.

GoDaddy - Government Trades

GoDaddy

GoDaddy is a provider of domain registration and aftermarket services, website hosting, security, design, and business productivity tools, commerce solutions, and domain registry services. The company primarily targets micro- to small businesses, website design professionals, registrar peers, and domain investors. Since acquiring payment processing platform Poynt in 2021, the company has expanded into omnicommerce solutions, including offering an online payment gateway and offline point-of-sale devices.

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Wall Street is experiencing a quiet trading session on Monday, with major indices showing little movement by midday in New York, as traders maintain a cautious stance ahead of the highly anticipated inflation report and Fed meeting this Wed

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Disney To Rally Around 17%? Here Are 10 Top Analyst Forecasts For Monday

A month has gone by since the last earnings report for GoDaddy (NYSE:GDDY). Shares have added about 5.5% in that time frame, outperforming the S&amp;P 500.

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In a significant move blending traditional web domains with blockchain technology, domain registration and web hosting firm GoDaddy (NYSE: GDDY) announced on Monday a partnership with Ethereum Name Service (ENS).

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GoDaddy Inc

GoDaddy's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDDY#NYSE">GDDY</a>) short percent of float has risen 22.93% since its last report. The company recently reported that it has 3.57 million shares sold short, which is 3.27% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.7 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>GoDaddy Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720203320_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for GoDaddy has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing GoDaddy's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, GoDaddy's peer group average for short interest as a percentage of float is 6.56%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

(GDDY) - Analyzing GoDaddy's Short Interest

Watching GoDaddy; Hearing Investors Business Daily SwingTrader Buys Stock

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/05/24</td>
<td>$130.00</td>
<td>$32.3K</td>
<td>47.2K</td>
<td>38.3K</td>
</tr>
<tr>
<td>SMCI</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/28/24</td>
<td>$850.00</td>
<td>$69.4K</td>
<td>2.2K</td>
<td>8.5K</td>
</tr>
<tr>
<td>MARA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/28/24</td>
<td>$19.00</td>
<td>$57.9K</td>
<td>5.4K</td>
<td>3.5K</td>
</tr>
<tr>
<td>MU</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$140.00</td>
<td>$45.2K</td>
<td>3.9K</td>
<td>2.5K</td>
</tr>
<tr>
<td>GDDY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$150.00</td>
<td>$42.5K</td>
<td>2.3K</td>
<td>2.3K</td>
</tr>
<tr>
<td>CRM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$270.00</td>
<td>$50.0K</td>
<td>1.9K</td>
<td>1.6K</td>
</tr>
<tr>
<td>ARM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$180.00</td>
<td>$109.6K</td>
<td>1.8K</td>
<td>1.4K</td>
</tr>
<tr>
<td>ADBE</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/28/24</td>
<td>$540.00</td>
<td>$38.5K</td>
<td>25</td>
<td>1.4K</td>
</tr>
<tr>
<td>DDOG</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$130.00</td>
<td>$25.4K</td>
<td>2.0K</td>
<td>837</td>
</tr>
<tr>
<td>AAPL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$225.00</td>
<td>$55.5K</td>
<td>28.5K</td>
<td>618</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we observe a call option sweep with bearish sentiment. It expires in 8 day(s) on July 5, 2024. Parties traded 220 contract(s) at a $130.00 strike. This particular call needed to be split into 23 different trades to become filled. The total cost received by the writing party (or parties) was $32.3K, with a price of $147.0 per contract. There were 47242 open contracts at this strike prior to today, and today 38395 contract(s) were bought and sold. 
• For SMCI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), we notice a call option trade that happens to be bullish, expiring in 1 day(s) on June 28, 2024. This event was a transfer of 20 contract(s) at a $850.00 strike. The total cost received by the writing party (or parties) was $69.4K, with a price of $3470.0 per contract. There were 2284 open contracts at this strike prior to today, and today 8573 contract(s) were bought and sold. 
• Regarding MARA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), we observe a call option sweep with bearish sentiment. It expires in 1 day(s) on June 28, 2024. Parties traded 597 contract(s) at a $19.00 strike. This particular call needed to be split into 44 different trades to become filled. The total cost received by the writing party (or parties) was $57.9K, with a price of $97.0 per contract. There were 5464 open contracts at this strike prior to today, and today 3533 contract(s) were bought and sold. 
• For MU (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), we notice a call option sweep that happens to be bullish, expiring in 85 day(s) on September 20, 2024. This event was a transfer of 50 contract(s) at a $140.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $45.2K, with a price of $905.0 per contract. There were 3920 open contracts at this strike prior to today, and today 2583 contract(s) were bought and sold. 
• For GDDY (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDDY#NYSE">GDDY</a>), we notice a call option sweep that happens to be bullish, expiring in 50 day(s) on August 16, 2024. This event was a transfer of 125 contract(s) at a $150.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $42.5K, with a price of $340.0 per contract. There were 2329 open contracts at this strike prior to today, and today 2336 contract(s) were bought and sold. 
• Regarding CRM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), we observe a call option trade with bullish sentiment. It expires in 50 day(s) on August 16, 2024. Parties traded 100 contract(s) at a $270.00 strike. The total cost received by the writing party (or parties) was $50.0K, with a price of $500.0 per contract. There were 1952 open contracts at this strike prior to today, and today 1649 contract(s) were bought and sold. 
• For ARM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), we notice a call option sweep that happens to be bullish, expiring in 22 day(s) on July 19, 2024. This event was a transfer of 174 contract(s) at a $180.00 strike. This particular call needed to be split into 14 different trades to become filled. The total cost received by the writing party (or parties) was $109.6K, with a price of $630.0 per contract. There were 1856 open contracts at this strike prior to today, and today 1459 contract(s) were bought and sold. 
• For ADBE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>), we notice a put option sweep that happens to be bullish, expiring in 1 day(s) on June 28, 2024. This event was a transfer of 149 contract(s) at a $540.00 strike. This particular put needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $38.5K, with a price of $260.0 per contract. There were 25 open contracts at this strike prior to today, and today 1412 contract(s) were bought and sold. 
• Regarding DDOG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DDOG#NASDAQ">DDOG</a>), we observe a call option trade with bullish sentiment. It expires in 22 day(s) on July 19, 2024. Parties traded 76 contract(s) at a $130.00 strike. The total cost received by the writing party (or parties) was $25.4K, with a price of $335.0 per contract. There were 2018 open contracts at this strike prior to today, and today 837 contract(s) were bought and sold. 
• Regarding AAPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), we observe a call option sweep with bullish sentiment. It expires in 85 day(s) on September 20, 2024. Parties traded 101 contract(s) at a $225.00 strike. This particular call needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $55.5K, with a price of $550.0 per contract. There were 28523 open contracts at this strike prior to today, and today 618 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

AAPL

ADBE

DDOG

MARA

NVDA

SMCI

10 Information Technology Stocks With Whale Alerts In Today's Session

GoDaddy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDDY#NYSE">GDDY</a>) has outperformed the market over the past 5 years by 1.74% on an annualized basis producing an average annual return of 14.72%. Currently, GoDaddy has a market capitalization of $19.51 billion. 
Buying $1000 In GDDY: If an investor had bought $1000 of GDDY stock 5 years ago, it would be worth $2,005.13 today based on a price of $138.41 for GDDY at the time of writing.
<h3>GoDaddy's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1719331281_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In GoDaddy 5 Years Ago Would Be Worth This Much Today

Wall Street is experiencing a quiet trading session on Monday, with major indices showing little movement by midday in New York, as traders maintain a cautious stance ahead of the highly anticipated inflation report and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39252500/fed-meeting-preview-economists-predict-steady-rates-in-june-fewer-cuts-ahead">Fed meeting this Wednesday.</a>
U.S. stocks have erased early session losses sparked by rising volatility in Europe after the latest Parliamentary elections revealed increased support for far-right parties and Emmanuel Macron&#8217;s surprising call for <a href="https://www.benzinga.com/markets/equities/24/06/39249718/macrons-snap-election-gamble-shocks-european-markets-euro-eyes-worst-2-day-performance-in-15-mon">snap elections in France.</a>
The S&amp;P 500 is 0.2% higher, while the tech-heavy Nasdaq 100 slightly outperforms the broader market, rising 0.3%.
Blue-chip stocks soften by 0.1%, while small caps trade mostly flat for the day.
Treasury yields inch higher by about 3 basis points across long-dated maturities, with the benchmark 10-year Note trading at a 4.47% yield. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) falls 0.7%, eyeing its third straight session of declines.
A trade-weighted measure of the U.S. dollar, as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), has risen by 0.2%, buoyed by the greenback&#8217;s gains against the euro, with the EUR-USD exchange rate down 0.4%.
Commodities trade stronger across the spectrum, with oil and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39254869/us-natural-gas-prices-rise-to-5-month-highs-on-hot-weather-forecasts-energy-stocks-">natural gas prices</a> rallying by 2.5% and 3.7%, respectively, driving the outperformance of energy-related stocks. Metals are also in the green, with copper, silver, and gold up 2.2%, 1.7%, and 0.7%, respectively. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is 0.4% higher, reaching $69,950.
<h3 class="wp-block-heading">Monday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,053.31</td>
<td>0.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,355.63</td>
<td>0.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,023.34</td>
<td>0.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,746.91</td>
<td>-0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">As of 12:42 p.m. ET</figcaption></figure>
According to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;is 0.2% higher to $534.86.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;is flat at $388.21.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA: <a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) rises 0.4% to $465.35.</li>
<li>Sector-wise, the&nbsp;Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)&nbsp;outperforms, up by 1.1%, while the&nbsp;Financials Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) eases 0.5%.</li>
<li>Industry-wise, the SPDR S&amp;P Oil &amp; Gas Exploration and Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>) is the session top performer, up 2.2%, while the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) lags behind, down 1.7%. </li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
<ul>
<li>Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) has risen by nearly 8%, after Elliot Investment unveiled a $1.9 billion stake in the airline company. </li>
<li>Huntington Bancshares Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NYSE">HBAN</a>) is down over 5%, after the company slashed its annual net interest income forecasts. </li>
<li>Texas Pacific Land Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPL#NYSE">TPL</a>) and RB Global Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBA#NYSE">RBA</a>) are up over 23% and 9%, respectively, on the news that they will be included in the S&amp;P MidCap 400 Index. </li>
<li>CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>), KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) and GoDaddy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDDY#NYSE">GDDY</a>) have risen 9.6%, 11.3% and 2.1%, respectively, as Dow Jones Indices announces the companies&#8217; inclusions in the S&amp;P 500 index.</li>
<li>Tellurian Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TELL#NYSE">TELL</a>) rockets 13.5%, extending a 5-day rally that began last week following rumors of Saudi giant Aramco being in discussions with the company for a liquefied natural gas (LNG) project.</li>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) has extended Friday&#8217;s losses following the Roaring Kitty&#8217;s livestream, down by an additional 15% on Monday, further cooling the meme-stock sentiment. AMC Entertainment Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) is 6% lower. </li>
<li>Shares of&nbsp;ICC Holdings, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICCH#NASDAQ">ICCH</a>) have gained over 35% after Mutual Capital Group announced plans to acquire&nbsp;the company. </li>
</ul>
Read now: <a href="https://www.benzinga.com/news/24/06/39245542/dont-miss-apples-wwdc-2024-keynote-how-and-where-to-watch-on-june-10">Don&#8217;t Miss Apple&#8217;s WWDC 2024 Keynote: How And Where To Watch On June 10</a>
Image generated using artificial intelligence via Midjourney.

Market Stays Flat As Investors Anticipate Key Economic Events; Energy Stocks Lead Gains, Regional Banks Decline: What's Driving Markets Monday?

GoDaddy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDDY#NYSE">GDDY</a>) has outperformed the market over the past 5 years by 2.24% on an annualized basis producing an average annual return of 15.27%. Currently, GoDaddy has a market capitalization of $20.09 billion. 
Buying $1000 In GDDY: If an investor had bought $1000 of GDDY stock 5 years ago, it would be worth $2,005.91 today based on a price of $141.05 for GDDY at the time of writing.
<h3>GoDaddy's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1718031621_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In GoDaddy 5 Years Ago Would Be Worth Today

WIIM

GoDaddy shares are trading higher after it was announced the company will join the S&P 500.

S&amp;P Dow Jones Indices announced late Friday changes to various S&amp;P indices, coinciding with the quarterly rebalance. Notable among the additions to the prestigious <a href="https://www.benzinga.com/topic/s-p-500-index">S&amp;P 500 Index</a> was cybersecurity company CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>).
What Happened: CrowdStrike will replace Robert Half Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RHI#NYSE">RHI</a>) in the S&amp;P 500 Index, while investment management company KKR &amp; Co Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) and GoDaddy Inc. (NYSE:&nbsp;GDDY) will take the place of Comerica Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) and Illumina Inc. (NASD:ILMN), respectively in the broader gauge.
The changes will take effect, prior to the open of trading on Monday, June 24. S&amp;P Dow Jones said the changes ensure each index is more representative of its market capitalization range.
Illumina will be relegated to the S&amp;P MidCap 400 Index in lieu of GoDaddy, while Robert Half&nbsp;and Comerica will replace Anywhere Real Estate Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOUS#NYSE">HOUS</a>) and ADTRAN Holdings Inc. (NASD:ADTN) in the S&amp;P SmallCap 600 Index. Gene sequencing company Illumina has announced plans to spin off cancer blood test making unit Grail on June 24.
S&amp;P Dow Jones also announced a host of changes to its S&amp;P MidCap 400 and the S&amp;P 600 SmallCap indices.
Notable among the companies that have been kept out of the S&amp;P 500 list are AI-powered data analytics company Palantir Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) and computer and peripherals maker Dell Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>). Incidentally, <a href="https://www.benzinga.com/markets/equities/24/03/37440459/palantir-misses-out-super-micro-computer-makes-the-cut-what-investors-should-know-about-s-p-500-">Palantir investors had anticipated inclusion in the S&amp;P 500 at the previous quarterly rebalance in early March.</a>
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks Right Now</a>
Why It&#8217;s Important: The S&amp;P 500 Index is considered the best single gauge of large-cap U.S. equities and includes 500 leading companies, covering approximately 80% of available market capitalization. The S&amp;P 500, a market-cap weighted index, is rebalanced quarterly, usually on the third Friday of March, June, September and December.
During the rebalancing process, companies are typically removed or added based on the most recent share count and float of constituent companies. Their weights in the index are adjusted accordingly.
The eligibility criteria for S&amp;P 500 Index inclusion are market capitalization of $15.8 billion or more, an annual dollar value traded to float-adjusted market capitalization greater than 0.75, a listing in either NYSE or NASDAQ, and a primary listing in the U.S. There is a a trading-volume criterion as well.
Index inclusion is typically positive for stocks, as funds holding portfolios mirroring the index will buy them to maintain the respective weightings of the component stocks. The stock will also benefit from increased volume and liquidity due to purchases by index funds and ETFs.
Following the announcement, CrowdStrike rose 5.35% to $367.80 in after-hours trading on Friday, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a> KKR &amp; Co. climbed 7.72% and GoDaddy added 3.72%.
Read Next:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39188726/crowdstrike-outperforms-peers-against-tough-macro-in-q1-10-analysts-comment-on-top-"> CrowdStrike Outperforms Peers Against Tough Macro In Q1, 10 Analysts Comment On &#8216;Top Name To Own In Security&#8217;</a>
Photo: Shutterstock

Cybersecurity Provider CrowdStrike And These 2 Companies Make The Cut For S&P 500 Inclusion, Palantir Misses Out Yet Again

KKR, CrowdStrike And GoDaddy Set To Join S&P 500

Citigroup analyst Ygal Arounian maintains GoDaddy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDDY#NYSE">GDDY</a>) with a Buy and raises the price target from $150 to $165.

Citigroup Maintains Buy on GoDaddy, Raises Price Target to $165

JP Morgan analyst Alexei Gogolev maintains GoDaddy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDDY#NYSE">GDDY</a>) with a Overweight and raises the price target from $136 to $175.

JP Morgan Maintains Overweight on GoDaddy, Raises Price Target to $175

Across the recent three months, 16 analysts have shared their insights on GoDaddy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDDY#NYSE">GDDY</a>), expressing a variety of opinions spanning from bullish to bearish.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $144.31, along with a high estimate of $175.00 and a low estimate of $124.00. Surpassing the previous average price target of $128.83, the current average has increased by 12.02%.
<img src="https://www.benzinga.com/files/images/story/2024/1716555656_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive GoDaddy. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Vikram Kesavabhotla</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$175.00</td>
<td>$150.00</td>
</tr>
<tr>
<td>Chris Kuntarich</td>
<td>UBS</td>
<td>Raises</td>
<td>Neutral</td>
<td>$130.00</td>
<td>$118.00</td>
</tr>
<tr>
<td>Brad Erickson</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$145.00</td>
<td>$124.00</td>
</tr>
<tr>
<td>Elizabeth Elliott</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$137.00</td>
<td>$132.00</td>
</tr>
<tr>
<td>Mark Zgutowicz</td>
<td>Benchmark</td>
<td>Raises</td>
<td>Buy</td>
<td>$158.00</td>
<td>$150.00</td>
</tr>
<tr>
<td>Mark Mahaney</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$135.00</td>
<td>$110.00</td>
</tr>
<tr>
<td>Trevor Young</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$150.00</td>
<td>$130.00</td>
</tr>
<tr>
<td>Mark Zgutowicz</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$150.00</td>
<td>-</td>
</tr>
<tr>
<td>Alexei Gogolev</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$136.00</td>
<td>$128.00</td>
</tr>
<tr>
<td>Josh Beck</td>
<td>Raymond James</td>
<td>Announces</td>
<td>Strong Buy</td>
<td>$150.00</td>
<td>-</td>
</tr>
<tr>
<td>Vikram Kesavabhotla</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$150.00</td>
<td>$130.00</td>
</tr>
<tr>
<td>Elizabeth Elliott</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$132.00</td>
<td>$120.00</td>
</tr>
<tr>
<td>Brad Erickson</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$124.00</td>
<td>-</td>
</tr>
<tr>
<td>Clarke Jeffries</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$145.00</td>
<td>$130.00</td>
</tr>
<tr>
<td>Naved Khan</td>
<td>B. Riley Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$142.00</td>
<td>$124.00</td>
</tr>
<tr>
<td>Mark Zgutowicz</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$150.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to GoDaddy. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of GoDaddy compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of GoDaddy's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into GoDaddy's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/GDDY/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on GoDaddy analyst ratings.</a>
<h2>Delving into GoDaddy's Background</h2>
GoDaddy is a provider of domain registration and aftermarket services, website hosting, security, design, and business productivity tools, commerce solutions, and domain registry services. The company primarily targets micro- to small businesses, website design professionals, registrar peers, and domain investors. Since acquiring payment processing platform Poynt in 2021, the company has expanded into omnicommerce solutions, including offering an online payment gateway and offline point-of-sale devices.
<h3>Breaking Down GoDaddy's Financial Performance</h3>
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
Revenue Growth: GoDaddy's revenue growth over a period of 3 months has been noteworthy. As of 31 March, 2024, the company achieved a revenue growth rate of approximately 7.0%. This indicates a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: GoDaddy's net margin excels beyond industry benchmarks, reaching 36.22%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): GoDaddy's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 168.34% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): GoDaddy's ROA excels beyond industry benchmarks, reaching 5.17%. This signifies efficient management of assets and strong financial health.
Debt Management: GoDaddy's debt-to-equity ratio stands notably higher than the industry average, reaching 9.46. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>How Are Analyst Ratings Determined?</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Unveiling 16 Analyst Insights On GoDaddy

Baird analyst Vikram Kesavabhotla maintains GoDaddy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDDY#NYSE">GDDY</a>) with a Outperform and raises the price target from $150 to $175.

Baird Maintains Outperform on GoDaddy, Raises Price Target to $175

GoDaddy Expands Small Business GenAI Prompt Library With Over 185 Prompts And New Capabilities To Boost Growth And Success

Infrastructure Capital Advisors&rsquo; InfraCap Small Cap Income ETF (ARCA: SCAP) gapped up about 1% higher on Monday, the second consecutive northernly gap after closing about 0.9% higher on Friday.
<a href="https://www.benzinga.com/profile/infrastructure-capital-advisors">SCAP is a value fund</a>, which is made up of the iShares Russell 2000 ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iwm#NYSE">IWM</a>), weighted at 18.13% and a basket of small-cap stocks. Currently, the fund may be of particular interest to cyclical investors who are anticipating the sideways movement in the large-cap space may indicate investors will&nbsp;turn&nbsp;their attention to small-cap investments, the latter of which can offer more growth potential.
Investing in small caps can be riskier than investing in mid-cap and large-cap stocks because of the amount of due diligence that&rsquo;s often required. SCAP is actively managed, using a mix of quantitative and qualitative analysis, offering traders and investors a way to diversify their portfolios without having to spend the time and take on the risk of choosing a basket of small-cap investments individually. InfraCap&rsquo;s methods of selecting its holdings also provide the opportunity for the fund to outperform compared to a passive benchmark.
Read Next:&nbsp;<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38147045/small-cap-companies-can-offer-promise-of-high-returns-but-how-does-one-find-winners-give">Small-Cap Companies Can Offer Promise Of High Returns, But How Does One Find Winners Given The Risks Involved? A Look Inside Infracap&#39;s SCAP ETF</a>
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While SCAP&rsquo;s largest holding is IWM, the fund also holds smaller positions in <a href="https://www.infracapfund.com/scap">several small-cap investments</a> that are popular with traders. MKS Instruments, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mksi#NASDAQ">MKSI</a>) is the second largest holding within the fund, weighted at 3.03%, followed by GoDaddy, Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gddy#NYSE">GDDY</a>), weighted at 2.94%, Chord Energy Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/chrd#NASDAQ">CHRD</a>), weighted at 2.88% and Jefferies Financial Group, Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jef#NYSE">JEF</a>) weighted at 2.86%.
Also within the top 10 holdings within SCAP are Herc Holdings, Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hri#NYSE">HRI</a>), Apollo Global Management, Inc, East West Bancorp, Inc, Coca-Cola Consolidated, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coke#NASDAQ">COKE</a>) and Casey&rsquo;s General Stores, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/casy#NASDAQ">CASY</a>).
Want direct analysis? Find me in the BZ Pro lounge! <a href="http://www.benzinga.com/pro">Click here for a free trial</a>.
The SCAP Chart: Since it&rsquo;s inception on Dec. 12, SCAP is up about 10%, despite having retraced about 3% from the April 4 all-time high of $33.99. After reaching a local low of $31.42 on April 16, SCAP reversed into an uptrend and has been making a fairly consistent series of higher highs and higher lows.
<ul>
<li>SCAP&rsquo;s most recent confirmed higher high was formed at the $32.75 mark on April 24 and the most recent higher low was printed on May 1 at $31.76. On Monday, SCAP pushed above the most recent higher high, indicating the uptrend remains intact.</li>
<li>If SCAP closes Monday&rsquo;s trading session near the high-of-day, the fund will form a bullish kicker candlestick, which could indicate higher prices will come again on Tuesday. If that happens, the local top may occur because the ETF will have formed a three-gap-up-reversal pattern.</li>
<li>Bearish traders may choose to wait until SCAP indicates a reversal may be on the horizon, by eventually printing a bearish candlestick such as a doji or shooting star candlestick. The fund is likely to retrace toward the $32.32 mark at some point in the future to fill the two lower gaps and if that happens, SCAP is likely to bounce, at least temporarily, from the lower range of the lower gap.</li>
<li>SCAP has resistance above at $33.17 and at the all-time high and support below at $32.70 and at $32.12.<img alt="screenshot_603.png" src="https://www.benzinga.com/files/u278075/screenshot_603.png" style="height:355px; width:760px" /></li>
<li>Featured image sourced from Shutterstock</li>
</ul>

The Nasdaq 100 closed higher by around 2% on Friday. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Micron Technology</h3>
<ul>
<li>The Trade: Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) EVP, Technology &amp; Products Scott J Deboer <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 40,000 shares</a> at an average price of $110.31. The insider received around $4.41 million from selling those shares.</li>
<li>What's Happening: On April 25, Micron announced signing a non-binding Preliminary Memorandum of Terms (PMT) for $6.1 billion in funding under the CHIPS and Science Act.</li>
<li>What Micron Does: Micron is one of the largest semiconductor companies in the world, specializing in memory and storage chips.</li>
</ul>
Have a look at our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<h3 class="wp-block-heading">Levi Strauss</h3>
<ul>
<li>The Trade: Levi Strauss &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEVI#NYSE">LEVI</a>) Director David A Friedman <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 16,666 shares </a> at an average price of $21.42. The insider received around $357,027 from selling those shares.</li>
<li>What's Happening: On April 11, Levi Strauss &amp; Co. named Gianluca Flore as Chief Commercial Officer.</li>
<li>What Levi Strauss Does: Levi Strauss &amp; Co is involved in designing, marketing, and selling products that include jeans, casual and dresses pants, tops, shorts, skirts, jackets, footwear, and related accessories directly or through third parties and licensees for men, women, and children under Levi&#8217;s, Dockers, Signature by Levi Strauss &amp; Co. and Denizen brands.</li>
</ul>
<h3 class="wp-block-heading">QUALCOMM</h3>
<ul>
<li>The Trade: QUALCOMM Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) Chief Technology Officer James H Thompson <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 8,000 shares</a> at an average price of $182.00. The insider received around $1.46 million from selling those shares.</li>
<li>What's Happening: On May 1, Qualcomm reported better-than-expected second-quarter financial results and raised its dividend.</li>
<li>What QUALCOMM Does: Qualcomm develops and licenses wireless technology and designs chips for smartphones.</li>
</ul>
<h3 class="wp-block-heading">GoDaddy</h3>
<ul>
<li>The Trade: GoDaddy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDDY#NYSE">GDDY</a>) Chief Operating Officer Roger Chen <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 4,000 shares</a> at an average price of $122.60. The insider received around $490,400 from selling those shares.</li>
<li>What's Happening: On May 2, GoDaddy reported upbeat first-quarter financial results.</li>
<li>What GoDaddy Does: GoDaddy is a provider of domain registration and aftermarket services, website hosting, security, design, and business productivity tools, commerce solutions, and domain registry services.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/05/38611902/wall-streets-most-accurate-analysts-views-on-3-tech-telecom-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts&#8217; Views On 3 Tech &amp; Telecom Stocks Delivering High-Dividend Yields</a>

UBS analyst Chris Kuntarich maintains GoDaddy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDDY#NYSE">GDDY</a>) with a Neutral and raises the price target from $118 to $130.

UBS Maintains Neutral on GoDaddy, Raises Price Target to $130

RBC Capital analyst Brad Erickson maintains GoDaddy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDDY#NYSE">GDDY</a>) with a Outperform and raises the price target from $124 to $145.

RBC Capital Maintains Outperform on GoDaddy, Raises Price Target to $145

Morgan Stanley analyst Elizabeth Elliott maintains GoDaddy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDDY#NYSE">GDDY</a>) with a Equal-Weight and raises the price target from $132 to $137.

Morgan Stanley Maintains Equal-Weight on GoDaddy, Raises Price Target to $137

GoDaddy Stock: Cashing In On Clicks

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<h2>Automatic Data Processing (ADP)</h2>



Automatic Data Processing (NASDAQ:<a href="https://investorplace.com/stock-quotes/adp-stock-quote/">ADP</a>) is a well-established player in the human capital management sector (<a href="https://investorplace.com/stock-quotes/hcm-stock-quote/">HCM</a>). As the sector rapidly embraces automation, AI will be pivotal to ADP&rsquo;s long-term strategy.



ADP remains ahead of the curve when it comes to the implementation of generative AI and machine learning principles for business. Its generative AI platform, <a href="https://www.adp.com/what-we-offer/ai-capabilities.aspx">ADP Assist</a>, offers robust AI capabilities from the industry&rsquo;s largest HCM dataset. It can validate payroll information, detect fraud, offer insights, and answer questions about all aspects of the HCM experience. This will be extremely beneficial to its more than 1 million paying customers and further strengthen its already high retention rates. 



In its latest quarterly financial results, revenue increased 7% year over year to $5.3 billion. Net earnings rose 14% year-over-year to $1.2 billion, or $2.88 per share. Moreover, adjusted EBITDA margin increased by 140 basis points to $29.3%, driven by healthy new business bookings. With a forward price to earnings of 25, ADP is one of the best cheap AI stocks to keep on your radar in 2024.



<h2>Godaddy (GDDY)</h2>



Godaddy (NYSE:<a href="https://investorplace.com/stock-quotes/gddy-stock-quote/">GDDY</a>) is a global leader in web hosting and domain registration. The company has been leveraging AI to enhance its customer experience and streamline operations. Its extensive use of AI spans from personalized customer support to sophisticated marketing tools for small and midsize enterprises (SMEs).



AI plays a crucial role in Godaddy&rsquo;s operations. The company&rsquo;s new Airo platform provides an unparalleled customer experience providing its customers with a full suite of AI tools. Some of its features include AI-generated logo creation, social media ad creation, email marketing, and more. In <a href="https://s23.q4cdn.com/406380394/files/doc_financials/2023/q4/GDDY-Q4-2023-Earnings-Release.pdf">FY23</a>, Godaddy delivered extremely impressive earnings results as management continued to execute on strategic priorities. Net earnings skyrocketed nearly 295% year over year to $1.4 billion, with free cash flow surpassing $1 billion for the first time. 



Its diverse platform offerings also contributed to notable EBITDA margin expansion. Additionally, the company recently joined the S&amp;P 500 on June 21st. This is an extremely positive tailwind as major funds, ETFs, and institutions will be forced to buy up the stock. Godaddy offers a significant growth potential with a relatively low price-to-earnings ratio, making it one of the top cheap AI stocks to buy now.



<h2>Qualcomm (QCOM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/09/qcom-stock-5-300x169.jpg" alt="Qualcomm (QCOM) logo on side of headquarters"><div>Source: photobyphm / Shutterstock.com</div></div>Qualcomm (NASDAQ:<a href="https://investorplace.com/stock-quotes/qcom-stock-quote/">QCOM</a>), a giant in the semiconductor industry, is undoubtedly one of the best cheap AI stocks to buy in 2024. Known for its Snapdragon processors, Qualcomm&rsquo;s chips power a wide range of devices, from smartphones to laptops, and IoT devices.&nbsp;



The increasing demand for artificial intelligence has provided a significant boost to the semiconductor industry in 2024. Led by AI GPU giants such as Nvidia, the market has soared to unprecedented heights. This has many investors questioning its valuation and highlighting the potential untapped value of companies like Qualcomm. In its <a href="https://d1io3yog0oux5.cloudfront.net/_ae2f2d1b1ed094a7694aea889da5e53a/qualcomm/db/773/7396/file/FY2024+2nd+Quarter+Earnings+Release.pdf">latest quarterly financial results</a>, the company reported strong earnings at the high end of its guidance. 



Net earnings increased 37% year over year to $2.33 billion, driven by strong performance in its automotive platform. The company&rsquo;s Snapdragon X platforms continue to gain traction, including its <a href="https://www.cnbc.com/2024/05/20/microsoft-qualcomm-ai-pcs-snapdragon-arm-processors.html">recent blockbuster deal to supply AI chips for Microsoft&rsquo;s Surface PCs</a>. With a forward price-to-earnings ratio of 18, Qualcomm represents a compelling opportunity among cheap AI stocks to buy in 2024.&nbsp;&nbsp;



On the date of publication, Terel Miles did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Terel Miles is a contributing writer at InvestorPlace.com, with more than seven years of experience investing in the financial markets.</div><h3>More From InvestorPlace</h3>
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For a while now, AI has been taking the world by storm. It&rsquo;s become the hottest sector on Wall Street, consumed most media headlines and dominated as the topic of conversation.&nbsp;



And after reporting the results of its quarterly executive survey on artificial intelligence, Bain &amp; Company &ndash; one of the world&rsquo;s largest consulting firms &ndash; has just confirmed that firms are all-in on AI right now.&nbsp;



<a href="https://secure.investorplace.com/?cid=MKT797138&amp;eid=MKT809066&amp;step=start&amp;plcid=PLC211659">We think that means you should go all-in with AI stocks, too.</a>&nbsp;



After all, if most major companies across the globe are spending millions to deploy new AI applications, then those AI developers should see their revenues and profits soar. And their stocks should soar, too.&nbsp;



It just makes sense.&nbsp;



Of course, that is exactly what&rsquo;s happening right now.&nbsp;







<h2>Survey Results Indicate a Lasting AI Takeover</h2>



Bain &amp; Co. found that across America, ~90% of companies surveyed are developing, piloting or have already deployed generative AI in some capacity. And they&rsquo;re spending millions to do it.



Smaller firms are spending about $5 million annually on generative artificial intelligence. Larger firms are investing up to $50 million per year.&nbsp;



Those are some big numbers. And considering that 60% of companies surveyed see generative AI as a top priority over the next two years, they&rsquo;ll likely stay big or continue to grow.&nbsp;



Currently, the top use cases for generative AI are in areas like sales, software development, marketing and customer service. That is where artificial intelligence is adding immediate value.&nbsp;



In fact, more than 80% of companies surveyed by Bain said that generative AI&rsquo;s utility is meeting or exceeding expectations in each of those categories.



<a href="https://investorplace.com/wp-content/uploads/2024/07/bain-survey-ai-expectations-070324.png"><img width="1246" height="324" src="https://investorplace.com/wp-content/uploads/2024/07/bain-survey-ai-expectations-070324.png" alt="" /></a>In other words, the AI software boom is here. It will only grow in the coming years. And AI-related sales, marketing, code development and customer service software is proving most valuable.&nbsp;



<a href="https://secure.investorplace.com/?cid=MKT797138&amp;eid=MKT809066&amp;step=start&amp;plcid=PLC211659">That means it&rsquo;s time to buy those AI software stocks.</a>







<h2>The Final Word</h2>



These are, after all, some of the hottest stocks in the market right now.&nbsp;



Just look at the world of AI-powered code development software. GitLab (<a href="https://investorplace.com/stock-quotes/gtlb-stock-quote/">GTLB</a>) provides tools to help computer scientists write and edit their code. Traditional website makers like Wix.com (<a href="https://investorplace.com/stock-quotes/wix-stock-quote/">WIX</a>) and GoDaddy (<a href="https://investorplace.com/stock-quotes/gddy-stock-quote/">GDDY</a>) are creating new AI software to help people make websites.&nbsp;



And these stocks have been on fire. WIX, GDDY and GTLB stocks are all up about 100% since early May 2023.



<a href="https://investorplace.com/wp-content/uploads/2024/07/wix-gddy-gtlb-070324.png"><img width="1180" height="603" src="https://investorplace.com/wp-content/uploads/2024/07/wix-gddy-gtlb-070324.png" alt="" /></a>The same goes for AI-related marketing and customer service stocks.&nbsp;



AppLovin (<a href="https://investorplace.com/stock-quotes/app-stock-quote/">APP</a>) is a mobile app advertising firm that has created new AI tools to help app developers monetize their apps. And Zenvia (<a href="https://investorplace.com/stock-quotes/zenv-stock-quote/">ZENV</a>) is pioneering artificial intelligence in the world of customer service.&nbsp;



Both stocks are up about 220% over the past year.



<a href="https://investorplace.com/wp-content/uploads/2024/07/zenv-app-070324.png"><img width="1180" height="603" src="https://investorplace.com/wp-content/uploads/2024/07/zenv-app-070324.png" alt="" /></a>The evidence seems pretty clear to us &ndash; the AI Software Boom is here.&nbsp;



But with 60% of companies identifying generative AI as a top priority over the next two years, you aren&rsquo;t too late to join the software boom.&nbsp;



It may be too late to buy ZENV or GDDY stock&hellip;&nbsp;



But there are plenty of other great AI sales, marketing, coding and customer service <a href="https://investorplace.com/industries/technology/software/">software stocks</a> out there that deserve your attention right now.&nbsp;



<a href="https://secure.investorplace.com/?cid=MKT797138&amp;eid=MKT809066&amp;step=start&amp;plcid=PLC211659">Learn about some of our favorite plays for this software boom.</a>



On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.



P.S.&nbsp;You can stay up to speed with Luke&rsquo;s latest market analysis by reading our Daily Notes! Check out the latest issue on your&nbsp;<a href="https://investorplace.com/innovationinvestor/">Innovation Investor</a>&nbsp;or&nbsp;<a href="https://investorplace.com/earlystageinvestor/">Early Stage Investor</a>&nbsp;subscriber site.
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The pursuit of financial freedom and a 6-figure net worth is a goal shared by many. While there are numerous investment strategies available, stocks for building wealth have long been a powerful tool for wealth creation.&nbsp;



The key to successful investing lies in identifying companies that demonstrate strong growth potential, solid financial health, and a competitive edge. However, approaching the market by investing in individual stocks is not the only prudent strategy. Investors can leverage investment vehicles like mutual funds and exchange-traded funds (ETFs) for a more passive approach. But if you&rsquo;re willing to get your hands dirty and put in some extra work, there is certainly potential to outperform the market in the long term.&nbsp;



Now, let&rsquo;s unpack the top 3 stocks for building wealth to reach the 6-figure net worth milestone by 2030!



<h2>Super Micro Computer (SMCI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/05/smci1600-2-300x169.png" alt="Person holding cellphone with logo of US company Super Micro Computer Inc. (SMCI) (Supermicro) in front of business webpage. Focus on phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div>Super Micro Computer (NASDAQ:<a href="https://investorplace.com/stock-quotes/smci-stock-quote/">SMCI</a>) is a global leader in high-performance, high-efficiency server and storage hardware. The company will be a beneficiary of artificial intelligence (AI) tailwinds, as its infrastructure is crucial to accelerate AI workloads in the cloud.&nbsp;



Super Micro Computer&rsquo;s growth potential is underpinned by the increasing demand for data storage and processing power. Its products are used in data centers, enterprise IT, artificial intelligence, and 5G infrastructure. As more businesses move their operations to cloud environments, the need for robust server solutions will continue to rise. The company continues to gain market share in 2024, and remains the preferred storage and server provider for hyperscale cloud providers. In <a href="https://ir.supermicro.com/news/news-details/2024/Supermicro-Announces-Third-Quarter-Fiscal-Year-2024-Financial-Results/default.aspx#:~:text=Third%20Quarter%20Fiscal%20Year%202024%20Highlights,same%20quarter%20of%20last%20year.">Q3 FY24</a>, revenue increased a whopping 200% year-over-year to $3.85 billion. Additionally, earnings per share also skyrocketed 328% YOY to $6.56 per share, driven by strong demand for AI rack scale solutions. With the rapid growth of data centers globally, SMCI stock stands as one of the best stocks for building wealth.



<h2>Palo Alto Networks (PANW)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/panw-stock-1-300x169.jpg" alt="Palo Alto Networks (PANW) logo on corporate building"><div>Source: Sundry Photography / Shutterstock.com</div></div>Palo Alto Networks (NASDAQ:<a href="https://investorplace.com/stock-quotes/panw-stock-quote/">PANW</a>), a leading cybersecurity giant provides a comprehensive suite of products and services to protect organizations from cyber threats. Its offerings include firewall protection, advanced threat detection, and cloud security solutions.



The increasing frequency and sophistication of cyberattacks have heightened the demand for robust cybersecurity measures. Hackers are getting more savvy, and are going after the largest organizations that have access to large amounts of sensitive data. One notable attack in 2024 is the ransomware attack on UnitedHealth Group (NYSE:<a href="https://investorplace.com/stock-quotes/unh-stock-quote/">UNH</a>), in which they had to pay a <a href="https://www.cnbc.com/2024/05/01/unitedhealth-ceo-says-company-paid-hackers-22-million-ransom.html#:~:text=The%20fallout%20from%20the%20attack,deeply%20sorry%2C%E2%80%9D%20Witty%20said.">$22 million ransom to hackers</a>. This unfortunate occurrence will position Palo Alto for continued growth given its strong reputation in the industry. Moreover, Palo Alto has demonstrated strong financial performance, with strong double digit revenue growth and impressive free cash flow. In its <a href="https://investors.paloaltonetworks.com/news-releases/news-release-details/palo-alto-networks-reports-fiscal-third-quarter-2024-financial">latest quarterly financial results</a>, revenue increased 15% YOY to $2 billion. Additionally, EPS swelled 155% year over year to 79 cents per share. This makes PANW stock one of the top stocks for building wealth through 2030.



<h2>Godaddy (GDDY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/07/gddy-1600-300x169.jpg" alt="GoDaddy website"><div>Source: dennizn / Shutterstock.com</div></div>Godaddy (NYSE:<a href="https://investorplace.com/stock-quotes/gddy-stock-quote/">GDDY</a>) has established itself as a global leader in domain registration and web hosting services. The company&rsquo;s recent inclusion in the S&amp;P 500 Index and its growing earnings and free cash flow are a positive sign for the future.&nbsp;



Godaddy empowers individuals and small businesses to build an online presence. The company is no longer a one trick pony, as it has expanded its product offerings over the years. This includes website builders, e-commerce solutions, and digital marketing solutions for online business needs. Moreover, Godaddy&rsquo;s new Airo platform includes a full suite of AI tools for businesses. After delivering record revenue, earnings, and free cash flow in FY23, CEO Aman Bhutani continues to execute on strategic priorities. In the <a href="https://s23.q4cdn.com/406380394/files/doc_financials/2024/q1/GDDY-Q1-2024-Earnings-Release-Updated.pdf">first quarter of 2024</a>, revenue increased 7% YOY to $1.1 billion. Additionally, net earnings skyrocketed 749% year over year to $401.5 million, or $2.76 per share. Godaddy&rsquo;s focus on operational efficiency is steadfast, placing GDDY stock among the best <a href="https://investorplace.com/stock-types/growth-stocks/">growth stocks</a> for building wealth.&nbsp;



On the date of publication, Terel Miles did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Terel Miles is a contributing writer at InvestorPlace.com, with more than seven years of experience investing in the financial markets.</div><h3>More From InvestorPlace</h3>
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