Starboard Suggests GoDaddy To Address Undervaluation

(RTTNews) - Investment advisor, Starboard Value LP, in a letter to GoDaddy Inc. (GDDY) said that, despite profitability and growth potential, GoDaddy remained undervalued with an opportunity for significant shareholder value creation.

Starboard, a major shareholder of the domain registrar stated that GoDaddy should explore various options, including a share repurchase program, to address the undervaluation.

Further, the investment firm intends to keep a close eye on the company's upcoming earnings call to ensure that at least 40 percent growth plus profitability is achieved for fiscal year 2025.

Currently, GoDaddy's stock is slipping 0.56 percent, to $108.39 on the New York Stock Exchange.