j2 Global Inc. (JCOM) Stock Rating Lowered by Zacks Investment Research
j2 Global Inc. (NASDAQ:JCOM) was downgraded by Zacks Investment Research from a “buy” rating to a “strong sell” rating in a research note issued on Tuesday.
According to Zacks, “J2 Global faces risks related to macroeconomic factors such as credit market weakness and high reliability on selected telecommunication carriers in each geographic network. A challenging economic environment might threaten the company’s performance considering it has a vast majority of credit-sensitive customers from lending and mortgage industries and other financial institutions. Additionally a high level of reliance on select telecommunication carriers might pose risks in future if any issues arise related to acquisition of local numbers. Though we are impressed by the company’s acquisition policy, the aforementioned risks continue to remain a concern.”
A number of other equities analysts also recently commented on the stock. Robert W. Baird assumed coverage on shares of j2 Global in a research note on Tuesday, August 30th. They set an “outperform” rating and a $83.00 target price on the stock. Citigroup Inc. reaffirmed a “buy” rating and set a $73.00 target price on shares of j2 Global in a research note on Wednesday, August 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $85.17.
Shares of j2 Global (NASDAQ:JCOM) traded up 0.099% during midday trading on Tuesday, hitting $65.685. 73,359 shares of the stock traded hands. The stock has a 50-day moving average of $67.41 and a 200-day moving average of $65.14. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 23.636 and a beta of 1.11. j2 Global has a 52-week low of $55.43 and a 52-week high of $84.15.
j2 Global (NASDAQ:JCOM) last issued its earnings results on Wednesday, August 3rd. The company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.06. j2 Global had a net margin of 17.16% and a return on equity of 24.28%. The company had revenue of $211.80 million for the quarter, compared to the consensus estimate of $206.41 million. During the same period in the previous year, the firm earned $0.99 earnings per share. j2 Global’s quarterly revenue was up 20.3% compared to the same quarter last year. On average, equities analysts predict that j2 Global will post $4.90 earnings per share for the current fiscal year.
In related news, Director Stephen Ross sold 19,836 shares of j2 Global stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $67.84, for a total value of $1,345,674.24. Following the completion of the transaction, the director now owns 28,107 shares in the company, valued at $1,906,778.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jeremy Rossen sold 1,014 shares of j2 Global stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $67.01, for a total transaction of $67,948.14. Following the completion of the transaction, the vice president now owns 24,708 shares of the company’s stock, valued at approximately $1,655,683.08. The disclosure for this sale can be found here. Company insiders own 5.11% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. acquired a new position in shares of j2 Global during the second quarter worth $101,000. Acrospire Investment Management LLC acquired a new position in shares of j2 Global during the first quarter worth $111,000. LS Investment Advisors LLC boosted its position in shares of j2 Global by 73.7% in the second quarter. LS Investment Advisors LLC now owns 2,799 shares of the company’s stock worth $177,000 after buying an additional 1,188 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of j2 Global by 904.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,074 shares of the company’s stock worth $194,000 after buying an additional 2,768 shares during the period. Finally, Societe Generale acquired a new position in shares of j2 Global during the second quarter worth $196,000.
j2 Global Company Profile
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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