GoDaddy Expands Security Portfolio With Two New Products

GoDaddy Inc. (NYSE:GDDY) yesterday announced expansion of its security product portfolio following the addition of two new offerings, developed leveraging its partnership with SiteLock.

The new security features include TrueShield Web Application Firewall (WAF) and TrueSpeed Content Delivery Network (CDN) that GoDaddy claims to provide impressive results when it comes to website protection and performance.

The Offerings in Detail

TrueShield is an advanced, cloud-based WAF that ensures protection from malicious website traffic including cross site scripting, SQL injections, spam comments and backdoor access. This WAF assesses traffic based on its source, behavior and the information it seeks to prevent cyber-attacks.

The TrueSpeed CDN offers protection and performance simultaneously. It reduces loading time and provides additional safety in case of a server overload. This in turn improves SEO ranking, reduces bounce rates and keeps visitors longer on a particular site.

GODADDY INC-A Net Income (Quarterly)

Our Take

The launch makes sense as cybercrime is increasingly become a concern. With more and more systems getting automated, both big and small businesses are increasingly becoming vulnerable to cyber-attacks. The new features will offer a simple and cost efficient mode of safeguarding online assets.

Shares of GoDaddy have been steadily treading higher on a year-to-date basis. The stock generated a return of 8.36% compared with the Zacks Internet Services- Delivery industry loss of 9.81%.

Going forward, investments in products, its technology platform and customer care as well as delivery of innovative and increasingly personalized products and services globally should drive GoDaddy’s shareholder value.

About GoDaddy

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.

Zacks Rank & Other Picks

Currently, GoDaddy has a Zacks Rank #3 (Hold). Better-ranked stocks in the broader technology sector include NVIDIA Corporation (NASDAQ:NVDA) , Kimball Electronics, Inc. (NASDAQ:KE) and Control4 Corporation (NASDAQ:CTRL) , 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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