{"id":11283,"date":"2023-09-13T20:01:59","date_gmt":"2023-09-13T20:01:59","guid":{"rendered":"https:\/\/prosfunds.com\/investing\/godaddy-stock-rallies-after-activist-investor-starboard-value-urges-value-creation-opportunities-including-potential-sale\/"},"modified":"2023-09-13T20:02:00","modified_gmt":"2023-09-13T20:02:00","slug":"godaddy-stock-rallies-after-activist-investor-starboard-value-urges-value-creation-opportunities-including-potential-sale","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=11283","title":{"rendered":"GoDaddy stock rallies after activist investor Starboard Value urges value creation opportunities, including potential sale"},"content":{"rendered":"
\n

Shares of GoDaddy Inc.
\n GDDY,
\n +0.56%<\/bg-quote>
\n gained 3.5% in premarket trading Tuesday, after activist investor Starboard Value LP said it sent a letter to the company urging it to consider \u201calternative value creation opportunities,\u201d including a potential sales of the web-hosting company. Starboard, which owns a 7.8% stake in GoDaddy, said GoDaddy is \u201cdeeply undervalued,\u201d as the stock trades at an almost 40% discount to the broader set of technology peers. Starboard said it strongly believes the company should cut costs further, and said it was \u201cdeeply disturbing\u201d that it hasn\u2019t welcomed one of its largest shareholders to be represented on its board at a time when the company has repeatedly missed its commitments and generated poor shareholder returns. The stock has lost 6.0% over the past 12 months through Monday, while the Technology Select Sector SPDR ETF
\n XLK,
\n +0.28%<\/bg-quote>
\n has rallied 24.6% and the S&P 500
\n SPX,
\n +0.13%<\/bg-quote>
\n has advanced 9.2%.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of GoDaddy Inc. GDDY, +0.56% gained 3.5% in premarket trading Tuesday, after activist investor Starboard Value LP said it sent a letter to the company urging it to consider \u201calternative value creation opportunities,\u201d including a potential sales of the web-hosting company. Starboard, which owns a 7.8% stake in GoDaddy, said GoDaddy is \u201cdeeply undervalued,\u201d […]<\/p>\n","protected":false},"author":1,"featured_media":3604,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[32],"tags":[],"class_list":{"0":"post-11283","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\nGoDaddy stock rallies after activist investor Starboard Value urges value creation opportunities, including potential sale | Prosfunds<\/title>\n<meta name=\"description\" content=\"Shares of GoDaddy Inc. 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