Starboard urges GoDaddy to set ‘prudent’ guidance and offer specifics on cost savings
Publishing timestamp: 2024-01-31 11:46:00
Summary
Activist investor Starboard Value has sent a letter to GoDaddy urging the company to set specific and realistic growth targets and provide more detail on how it will improve margins. Starboard believes GoDaddy's multiple is still below its peer group and that the company should aim for at least 40% growth and profitability for fiscal 2025. The investor also highlights GoDaddy's robust free cash flow and suggests cost savings measures.
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Keywords: business, bloomin' brands inc, mergers and acquisitions, breaking news, godaddy inc, box inc, technology, teradata corp, salesforce inc, business news, breaking news: business, breaking news: technology,
Source: https://www.cnbc.com/2024/01/31/starboard-urges-godaddy-to-set-prudent-guidance.html