Brokerages Set j2 Global Inc. (NASDAQ:JCOM) Target Price at $86.60
j2 Global Inc. (NASDAQ:JCOM) has been given an average recommendation of “Buy” by the six ratings firms that are covering the stock. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $86.60.
A number of equities analysts have commented on the stock. Citigroup Inc. restated a “buy” rating and issued a $73.00 price target on shares of j2 Global in a research report on Wednesday, August 17th. Zacks Investment Research upgraded shares of j2 Global from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research report on Friday, August 5th. Finally, Robert W. Baird assumed coverage on shares of j2 Global in a research report on Tuesday, August 30th. They issued an “outperform” rating and a $83.00 price target on the stock.
In other j2 Global news, Director Stephen Ross sold 19,836 shares of the business’s stock in a transaction dated 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 directly owns 28,107 shares of the company’s stock, valued at $1,906,778.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Jeremy Rossen sold 1,014 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was 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 directly owns 24,708 shares of the company’s stock, valued at $1,655,683.08. The disclosure for this sale can be found here. 5.11% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Mason Street Advisors LLC bought a new position in shares of j2 Global during the second quarter worth $1,333,000. Sterling Capital Management LLC increased its position in shares of j2 Global by 18.7% in the second quarter. Sterling Capital Management LLC now owns 38,437 shares of the company’s stock worth $2,428,000 after buying an additional 6,063 shares in the last quarter. Bellwether Investment Group LLC bought a new position in shares of j2 Global during the second quarter worth $256,000. Amalgamated Bank increased its position in shares of j2 Global by 7.2% in the second quarter. Amalgamated Bank now owns 5,668 shares of the company’s stock worth $390,000 after buying an additional 380 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of j2 Global by 9.4% in the second quarter. Legal & General Group Plc now owns 13,100 shares of the company’s stock worth $818,000 after buying an additional 1,127 shares in the last quarter.
Shares of j2 Global (NASDAQ:JCOM) opened at 64.73 on Wednesday. j2 Global has a one year low of $55.43 and a one year high of $84.15. The company’s 50-day moving average is $67.28 and its 200-day moving average is $65.20. The company has a market capitalization of $3.11 billion, a PE ratio of 23.29 and a beta of 1.11.
j2 Global (NASDAQ:JCOM) last issued its earnings results on Wednesday, August 3rd. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.06. j2 Global had a net margin of 17.16% and a return on equity of 24.28%. The business had revenue of $211.80 million for the quarter, compared to analyst estimates of $206.41 million. During the same period in the previous year, the business earned $0.99 EPS. The firm’s revenue was up 20.3% on a year-over-year basis. Equities analysts predict that j2 Global will post $4.90 earnings per share for the current year.
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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