Web.com Group Inc (NYSE:WEB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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. “
Several other analysts have also commented on the stock. B. Riley reissued a “buy” rating and set a $30.00 target price on shares of Web.com Group in a research note on Wednesday, August 10th. RBC Capital Markets reissued a “hold” rating and set a $23.00 target price on shares of Web.com Group in a research note on Sunday, August 7th. Deutsche Bank AG cut their target price on shares of Web.com Group from $19.00 to $17.00 and set a “hold” rating for the company in a research note on Friday, August 5th. Finally, Piper Jaffray Cos. reissued a “buy” rating and set a $27.00 target price on shares of Web.com Group 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 stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $23.40.
Shares of Web.com Group (NYSE:WEB) traded up 1.49% during trading on Wednesday, hitting $17.05. The company’s stock had a trading volume of 31,936 shares. 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 $840.43 million and a PE ratio of 10.59. The firm’s 50 day moving average price is $17.57 and its 200-day moving average price is $18.06.
Web.com Group (NYSE:WEB) last released its earnings results on Thursday, August 4th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.59 by $0.03. The business had revenue of $193.90 million for the quarter, compared to analyst estimates of $194.14 million. During the same period in the prior 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. On average, analysts predict that Web.com Group will post $2.61 earnings per share for the current year.
In related news, major shareholder Opportunistic Value Fun Okumus sold 99,600 shares of the company’s stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $18.70, for a total value of $1,862,520.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Paradigm Asset Management Co. LLC bought a new position in Web.com Group during the second quarter valued at $102,000. Teacher Retirement System of Texas bought a new position in Web.com Group during the second quarter valued at $110,000. Great West Life Assurance Co. Can bought a new position in Web.com Group during the second quarter valued at $125,000. Quantbot Technologies LP bought a new position in Web.com Group during the second quarter valued at $155,000. Finally, ClariVest Asset Management LLC bought a new position in Web.com Group during the second quarter valued at $165,000.
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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