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 currently has a $20.00 price objective on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 14.03% from the stock’s previous close.
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. “
Several other equities analysts have also weighed in on WEB. B. Riley reissued a “buy” rating and issued a $30.00 target price on shares of Web.com Group in a research note on Friday, June 10th. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Web.com Group in a research report on Sunday, June 26th. Deutsche Bank AG dropped their price target on Web.com Group from $19.00 to $17.00 and set a “hold” rating on the stock in a research report on Friday, August 5th. Finally, RBC Capital Markets reaffirmed a “hold” rating and set a $23.00 price target on shares of Web.com Group in a research report on Sunday, August 7th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $23.40.
Web.com Group (NYSE:WEB) traded down 1.14% during midday trading on Thursday, reaching $17.34. The company had a trading volume of 26,842 shares. The company’s 50-day moving average is $17.60 and its 200 day moving average is $18.12. Web.com Group has a 52-week low of $15.71 and a 52-week high of $25.00. The company has a market cap of $854.72 million and a PE ratio of 10.77.
Web.com Group (NYSE:WEB) last released its earnings results on Thursday, August 4th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.03. The company earned $193.90 million during the quarter, compared to analyst estimates of $194.14 million. During the same period in the previous year, the company posted $0.60 EPS. The company’s quarterly revenue was up 38.5% compared to the same quarter last year. On average, equities research analysts forecast 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 stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $18.70, for a total transaction of $1,862,520.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Several hedge funds and other institutional investors have recently bought and sold shares of WEB. Acadian Asset Management LLC purchased a new position in Web.com Group during the second quarter worth about $529,000. Capital Management Corp VA purchased a new position in Web.com Group during the second quarter worth about $2,371,000. Pembroke Management LTD purchased a new position in Web.com Group during the second quarter worth about $26,130,000. MSI Financial Services Inc purchased a new position in Web.com Group during the second quarter worth about $405,000. Finally, Bank of Montreal Can purchased a new position in Web.com Group during the second quarter worth about $183,000.
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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