GoDaddy (GDDY) Reported Robust Results in Q4

Munro Partners, an investment management firm, released its “Munro Global Growth Small & Mid Cap Fund” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. In the December quarter, the Fund returned 20.9% compared to the MSCI ACWI SMID benchmark return of 8.3%. Global markets’ performance was varied for the quarter when viewed in local terms, with regional disparities in equity market outcomes. The US SMID market showed modest gains, while several other markets, such as those in Europe, Hong Kong, and China, experienced declines. For more information on the fund’s best picks in 2024, please check its top five holdings.

In its fourth quarter 2024 investor letter, Munro Global Growth Small & Mid Cap Fund emphasized stocks such as GoDaddy Inc. (NYSE:GDDY). GoDaddy Inc. (NYSE:GDDY) designs and develops cloud-based products. The one-month return of GoDaddy Inc. (NYSE:GDDY) was 1.83%, and its shares gained 54.01% of their value over the last 52 weeks. On March 27, 2025, GoDaddy Inc. (NYSE:GDDY) stock closed at $182.78 per share with a market capitalization of $25.837 billion.

Munro Global Growth Small & Mid Cap Fund stated the following regarding GoDaddy Inc. (NYSE:GDDY) in its Q4 2024 investor letter:

“Within the Digital Enterprise Area of Interest (AoI), both Wix and GoDaddy Inc. (NYSE:GDDY) reported strong results for the quarter, with revenue, profit and free cash flows exceeding investors’ expectations. Both web builders’ management teams expressed confidence in their respective continued growth fuelled by new product features powered by AI innovations.”

GoDaddy Inc. (GDDY): Among the Stocks That Outperform the Broader Market

A close-up of a complex web page being developed and refined by a web development specialist.

GoDaddy Inc. (NYSE:GDDY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 52 hedge fund portfolios held GoDaddy Inc. (NYSE:GDDY) at the end of the fourth quarter compared to 41 in the third quarter. While we acknowledge the potential of GoDaddy Inc. (NYSE:GDDY) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

We covered GoDaddy Inc. (NYSE:GDDY) in another article, where we shared the list of stocks that outperform the broader market. In addition, please check out our hedge fund investor letters Q4 2024 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.