Web.com Group Inc (NYSE:WEB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm presently has a $20.00 target price on the stock. Zacks Investment Research’s price target indicates a potential upside of 14.03% from the stock’s current price.

According to Zacks, “WEB.COM GROUP, INC. is a leading provider of online marketing for small businesses. Web.com offers a full range of online services, including Internet marketing and advertising, local search, search engine marketing, search engine optimization, lead generation, home contractor specific leads, website design and publishing, logo and brand development, and eCommerce solutions, meeting the needs of small businesses anywhere along their lifecycle. “

A number of other brokerages have also recently weighed in on WEB. Piper Jaffray Cos. reissued a “buy” rating on shares of Web.com Group in a research note on Sunday, June 26th. Deutsche Bank AG lowered their target price on Web.com Group from $19.00 to $17.00 and set a “hold” rating on the stock in a research note 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 research note on Sunday, August 7th. Finally, B. Riley reaffirmed a “buy” rating and set a $30.00 target price on shares of Web.com Group in a research note on Wednesday, August 10th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Web.com Group currently has an average rating of “Buy” and an average price target of $23.40.

Web.com Group (NYSE:WEB) traded down 1.14% on Thursday, reaching $17.34. 26,842 shares of the company traded hands. Web.com Group has a 52-week low of $15.71 and a 52-week high of $25.00. The stock has a market capitalization of $854.72 million and a price-to-earnings ratio of 10.77. The firm has a 50 day moving average price of $17.60 and a 200 day moving average price of $18.12.

Web.com Group (NYSE:WEB) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.03. The company earned $193.90 million during the quarter, compared to analysts’ expectations of $194.14 million. The company’s revenue for the quarter was up 38.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 EPS. Equities research analysts predict that Web.com Group will post $2.61 EPS for the current year.

In related news, major shareholder Opportunistic Value Fun Okumus sold 99,600 shares of the business’s stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $18.70, for a total value of $1,862,520.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Several large investors have recently made changes to their positions in the stock. Tocqueville Asset Management L.P. purchased a new stake in shares of Web.com Group during the second quarter valued at approximately $5,949,000. ClariVest Asset Management LLC bought a new stake in Web.com Group during the second quarter valued at $165,000. First Midwest Bank Trust Division bought a new stake in Web.com Group during the second quarter valued at $440,000. Alps Advisors Inc. bought a new stake in Web.com Group during the second quarter valued at $417,000. Finally, American Century Companies Inc. bought a new stake in Web.com Group during the second quarter valued at $5,597,000.

About Web.com Group

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.

5 Day Chart for NYSE:WEB

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