Leading domain registration and web hosting provider GoDaddy Inc. (GDDY - Free Report) has made the .blog domain name extension widely available.
The .blog extension enables companies or individuals to direct readers to various blogging platforms, thus increasing their exposure to potential customers. Readers, on the other hand, get access to more content when they visit a company’s website.
According to GoDaddy Senior Director of Marketing for Domains, Theresa Geraghty, "As companies have evolved their communications goals, channels needed to change as well. The .blog extension makes it simple and clear for anyone visiting a website to know what they're going to get."
What’s Behind the Move
Blogs are increasingly gaining precedence as sources of marketing content. These are cited as sources of news, updates and opinions. Today, websites with blogs have significantly more indexed pages on search engines.
The move is expected to significantly boost GoDaddy’s domain revenues that currently constitute more than 50% of its total revenue.
Last quarter, the company’s domain revenues were up 3% sequentially and 10.2% year over year. The company’s earnings beat the Zacks Consensus Estimate. (See More: GoDaddy Beats Q3 Earnings and Revenue Estimates).
GODADDY INC-A Price
GoDaddy is engaged in the designing and development of cloud-based technology products for small businesses, web design professionals and individuals. The company’s industry peers include big names such as MakeMyTrip, CafePress and GrubHub.
Going forward, investments in products, the technology platform and customer care as well as delivery of innovative and increasingly personalized products and services globally should drive shareholder value.
Zacks Rank & Stocks to Consider
Currently, GoDaddy has a Zacks Rank #3 (Hold). Better-ranked stocks in the broader technology sector include NVIDIA Corporation (NVDA - Free Report) , Kimball Electronics, Inc. (KE - Free Report) and Control4 Corporation (CTRL - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
For the current year, the consensus estimate for NVIDIA has increased 33.3% in the past 30 days. Estimates for Kimball Electronics and Control4 have gone up by 8.1% and 10%, respectively, over the same time frame.
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