Web.com Group Inc (WEB) Downgraded to “Hold” at Zacks Investment Research
Web.com Group Inc (NYSE:WEB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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 research firms have also recently commented on WEB. B. Riley restated a “buy” rating and set a $30.00 price target on shares of Web.com Group in a research note on Friday, August 5th. Piper Jaffray Cos. restated a “buy” rating and set a $27.00 price target on shares of Web.com Group in a research note on Friday, August 5th. RBC Capital Markets restated a “hold” rating and set a $23.00 price target on shares of Web.com Group in a research note on Sunday, August 7th. Finally, Deutsche Bank AG reduced their price objective 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. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $23.40.
Shares of Web.com Group (NYSE:WEB) traded up 1.49% during midday trading on Wednesday, hitting $17.05. The company had a trading volume of 31,936 shares. The company has a market capitalization of $840.43 million and a PE ratio of 10.59. The company has a 50-day moving average of $17.57 and a 200-day moving average of $18.06. Web.com Group has a 12 month low of $15.71 and a 12 month high of $25.00.
Web.com Group (NYSE:WEB) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The firm had revenue of $193.90 million for the quarter, compared to analyst estimates of $194.14 million. During the same quarter last year, the company earned $0.60 earnings per share. The firm’s revenue for the quarter was up 38.5% on a year-over-year basis. Analysts predict that Web.com Group will post $2.61 earnings per share for the current year.
In other news, major shareholder Opportunistic Value Fun Okumus sold 99,600 shares of the stock in a transaction 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 SEC, which is available through this hyperlink.
Institutional investors have recently bought and sold shares of the stock. Okumus Fund Management Ltd. raised its position in Web.com Group by 36.2% in the second quarter. Okumus Fund Management Ltd. now owns 9,560,033 shares of the company’s stock valued at $173,801,000 after buying an additional 2,543,431 shares during the period. Vanguard Group Inc. purchased a new position in shares of Web.com Group during the second quarter valued at about $63,886,000. BlackRock Institutional Trust Company N.A. purchased a new position in shares of Web.com Group during the second quarter valued at about $33,859,000. Dimensional Fund Advisors LP purchased a new position in shares of Web.com Group during the second quarter valued at about $32,328,000. Finally, Glenmede Trust Co. NA purchased a new position in shares of Web.com Group during the second quarter valued at about $28,066,000.
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.
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