Investment advisor, Starboard Value LP, recently issued a letter to domain registrar, GoDaddy Inc., expressing concerns about the company's perceived undervaluation despite its profitability and potential for growth. Starboard, which owns a significant portion of GoDaddy's shares, urged the company to consider various strategies to rectify this undervaluation, including implementing a share buyback program.
Starboard also announced its intention to carefully observe GoDaddy's upcoming earnings call to guarantee that the company accomplishes a minimum of 40 percent growth alongside profitability by the end of the fiscal year 2025. At the moment, GoDaddy's share price has experienced a 0.56 percent drop, settling at $108.39 on the New York Stock Exchange.
