Starboard has a more than 6% stake in the company, and has been pushing the company to expand free cash flow and improve margins. Of the 20 companies in peer group in Starboard's letter, GoDaddy has a higher multiple than only TeraData and Box . Starboard believes that GoDaddy can achieve free cash flow of $9 per share by this fiscal year, and $14 per share by fiscal year 2026. Those targets are higher than GoDaddy's $6.1 free cash flow per share for the fiscal year ending September 2023, according to FactSet data. Starboard expects that GoDaddy could generate more than $4 billion in free cash flow over the next three years.

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Persons: Peter Feld, GoDaddy, Aman Bhutani, Feld, Mark McCaffrey, Starboard's Jeffrey Smith Organizations: New York Stock Exchange, GoDaddy Locations: New York City