Web.com Group Inc (NYSE:WEB) Receives Average Rating of “Buy” from Brokerages
Web.com Group Inc (NYSE:WEB) has been given a consensus broker rating score of 1.50 (Buy) from the ten analysts that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and seven have given a strong buy recommendation to the company.
Brokers have set a 12 month consensus price objective of $25.00 for the company and are forecasting that the company will post $0.55 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Web.com Group an industry rank of 101 out of 265 based on the ratings given to related companies.
WEB has been the subject of a number of research reports. Zacks Investment Research raised shares of Web.com Group from a “hold” rating to a “strong-buy” rating and set a $20.00 target price for the company in a report on Wednesday, August 10th. Piper Jaffray Cos. reaffirmed a “buy” rating and set a $31.00 target price on shares of Web.com Group in a report on Monday, July 18th. Deutsche Bank AG reduced their target price on shares of Web.com Group from $19.00 to $17.00 and set a “hold” rating for the company in a report on Friday, August 5th. RBC Capital Markets reaffirmed a “hold” rating and set a $23.00 target price on shares of Web.com Group in a report on Sunday, August 7th. Finally, B. Riley reiterated a “buy” rating and issued a $30.00 price target on shares of Web.com Group in a research report on Wednesday, August 10th.
In other Web.com Group news, major shareholder Opportunistic Value Fun Okumus sold 99,600 shares of the company’s stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $18.70, for a total value of $1,862,520.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Several institutional investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. bought a new position in shares of Web.com Group during the second quarter worth $7,999,000. Wedge Capital Management L L P NC bought a new position in shares of Web.com Group during the second quarter worth $337,000. Numeric Investors LLC bought a new position in shares of Web.com Group during the second quarter worth $24,190,000. B. Riley Financial Inc. raised its position in shares of Web.com Group by 1.7% in the second quarter. B. Riley Financial Inc. now owns 11,650 shares of the company’s stock worth $212,000 after buying an additional 191 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new position in shares of Web.com Group during the second quarter worth $224,000.
Web.com Group (NYSE:WEB) traded up 0.73% during mid-day trading on Monday, hitting $17.87. 47,934 shares of the stock traded hands. The company has a market cap of $880.85 million and a P/E ratio of 11.10. Web.com Group has a 12 month low of $15.71 and a 12 month high of $25.00. The company’s 50 day moving average is $17.73 and its 200 day moving average is $18.19.
Web.com Group (NYSE:WEB) last announced its earnings results on Thursday, August 4th. The company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.03. The business had revenue of $193.90 million for the quarter, compared to analysts’ expectations of $194.14 million. During the same period in the prior year, the company posted $0.60 earnings per share. The firm’s quarterly revenue was up 38.5% on a year-over-year basis. On average, analysts expect that Web.com Group will post $2.61 earnings per share for the current fiscal year.
Web.com Group Company Profile
Web.com Group, Inc provides a range of Internet services to small businesses. The Company operates through Web services and products segment. The Company offers subscription-based solutions including domains, hosting, Website design and management, search engine optimization, online marketing campaigns, local sales leads, social media, mobile products and e-commerce solutions.
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