GoDaddy Inc. GDDY recently announced the expansion of its security product portfolio with the launch of a new offering, GoDaddy Website Security.
Following the news, its share price was up 1.91%. In the last six months, shares of GoDaddy have been steadily treaded higher. The stock has returned 24% compared with the Zacks Internet Services- Delivery industry's gain of 20.4%.
The Offering in Detail
GoDaddy Website Security is a website protection service which is powered by Sucuri.
Sucuri is a leading provider of security products and services to website owners from emerging online threats, which was acquired by GoDaddy in March.
GoDaddy's Website Security offers complete protection to a website. The malware scanning is done on a daily basis to detect any security holes or issues on a website. It provides tools that guarantee quick response time to hacks when they occur. The Website Security premium plan also adds a second layer of protection, including a Web Application Firewall (WAF) that blocks malicious traffic before it gets to the website.
The new offerings will enhance GoDaddy's security business as it will further advance and expand digital security for its customers.
Given that cybercrime is increasingly become a concern, this launch makes sense. With more systems getting automated, both big and small businesses are increasingly becoming vulnerable to cyber-attacks.
GoDaddy has been continuously investing in security and compliance technology. In Dec 2016, GoDaddy expanded its security product portfolio by adding two new offerings, developed in partnership with SiteLock. The new security features were TrueShield Web Application Firewall and TrueSpeed Content Delivery Network which GoDaddy claims gives impressive results when it comes to website protection and performance.
We believe that these product launches and the acquisition will position GoDaddy well to gain from the increasing adoption of simple and cost-efficient solutions of safeguarding online assets.
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 Limited, CafePress and GrubHub.
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Zacks Rank & Other Picks
Currently, GoDaddy has a Zacks Rank #3 (Hold). Some other favorably placed stocks in the broader technology sector include KLA-Tencor KLAC and Applied Materials AMAT , each sporting a Zacks Rank #1, while Advanced Energy Industries, Inc. AEIS , carrying a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank stocks here .
KLA-Tencor delivered a positive earnings surprise of 11.55%, on average, in the last four quarters.
Applied Materials delivered a positive earnings surprise of 3.35%, on average, in the trailing four quarters.
Advanced Energy Industries, Inc. delivered a positive earnings surprise of 10.46%, on average, in the trailing four quarters.
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