j2 Global, Inc. (NASDAQ:JCOM) Downgraded by BidaskClub to Sell
BidaskClub cut shares of j2 Global, Inc. (NASDAQ:JCOM) from a hold rating to a sell rating in a research report released on Tuesday morning.
Several other equities analysts also recently commented on the company. Susquehanna Bancshares Inc reiterated a positive rating and issued a $120.00 target price (up from $95.00) on shares of j2 Global in a research report on Tuesday, May 9th. Zacks Investment Research downgraded j2 Global from a buy rating to a hold rating in a research report on Wednesday, April 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $97.00.
Shares of j2 Global (JCOM) traded down 0.42% during mid-day trading on Tuesday, reaching $85.29. The company’s stock had a trading volume of 182,422 shares. The company has a 50-day moving average of $85.79 and a 200-day moving average of $84.96. The firm has a market cap of $4.11 billion, a PE ratio of 28.08 and a beta of 0.95. j2 Global has a 12 month low of $62.55 and a 12 month high of $91.48.
j2 Global (NASDAQ:JCOM) last posted its earnings results on Monday, May 8th. The technology company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.21 by $0.07. The firm had revenue of $254.70 million during the quarter, compared to the consensus estimate of $258.15 million. j2 Global had a net margin of 15.98% and a return on equity of 26.41%. j2 Global’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 earnings per share. On average, analysts predict that j2 Global will post $5.84 earnings per share for the current year.
In other news, Director Robert J. Cresci sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $88.67, for a total transaction of $798,030.00. Following the completion of the transaction, the director now directly owns 84,569 shares in the company, valued at $7,498,733.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director W Brian Kretzmer sold 1,336 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $86.20, for a total value of $115,163.20. Following the transaction, the director now owns 11,607 shares of the company’s stock, valued at $1,000,523.40. The disclosure for this sale can be found here. Insiders have sold 29,758 shares of company stock valued at $2,583,053 over the last 90 days. 5.15% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in shares of j2 Global during the fourth quarter worth about $303,000. Charter Trust Co. increased its position in shares of j2 Global by 76.9% in the first quarter. Charter Trust Co. now owns 5,929 shares of the technology company’s stock worth $497,000 after buying an additional 2,578 shares during the period. Bank of Montreal Can increased its position in shares of j2 Global by 18.7% in the first quarter. Bank of Montreal Can now owns 85,574 shares of the technology company’s stock worth $7,180,000 after buying an additional 13,500 shares during the period. Capstone Asset Management Co. increased its position in shares of j2 Global by 6.0% in the first quarter. Capstone Asset Management Co. now owns 3,703 shares of the technology company’s stock worth $311,000 after buying an additional 210 shares during the period. Finally, Fox Run Management L.L.C. bought a new position in shares of j2 Global during the first quarter worth about $285,000.
About j2 Global
j2 Global, Inc is a provider of services delivered through the Internet. The Company provides cloud services to businesses of all sizes, from individuals to enterprises. The Company operates in two segments: Business Cloud Services and Digital Media. The Company’s Digital Media business segment consists of the Web properties and business operations of Ziff Davis, Inc (Ziff Davis).
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