What happened Shares of GoDaddy (NYSE: GDDY) gained 11.3% in May, according to data from S&P Global Market Intelligence. The stock popped following the release of the company's first quarter results and continued to benefit from broader-market momentum as the month progressed. ^SPX data by YCharts Image source: YCharts. GoDaddy published first quarter results on May 6, with revenue climbing roughly 12% year over year to hit $792 million and earnings per share jumping 242% year over year to hit $0.24. The average analyst target had called for earnings per share of $0.19 on sales of $789.8 million. So what GoDaddy's bookings in the first quarter rose 9% year over year to $951 million, and revenue from the company's domains segment climbed 11% year over year to reach $355.9 million. Unlevered free cash flow for the period came in at $235 million, increasing 18% compared to the prior-year period, and net operating cash flow rose 16.8% year over year to come in at $233.3 million. GoDaddy is benefiting from digital business growth and work from home trends stemming from conditions created by the novel coronavirus. While the pandemic has created challenging operations on a wide scale, the company is seeing the circumstances spur increased interest in creating digital ventures -- and management indicated that it would lean into marketing initiatives to take advantage of this trend. Now what GoDaddy stock has continued to move higher in June. Shares are up roughly 1.7% in the month's trading so far. ^SPX data by YCharts Image source: YCharts. GoDaddy is targeting sales of $790 million for the second quarter, representing growth of roughly 7% year over year. Revenue for the domains segment is projected to rise by high single digits, mid-single-digit growth is expected for hosting and presence, and business applications sales are projected to increase in the mid-teens range. GoDaddy stock trades at roughly 20.6 times the average analyst target for this year's earnings and roughly four times projected sales. 10 stocks we like better than GoDaddyWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and GoDaddy wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Keith Noonan has no position in any of the stocks mentioned. The Motley Fool recommends GoDaddy. The Motley Fool has a disclosure policy.Source