j2 Global Inc. (NASDAQ:JCOM) has received a consensus rating of “Buy” from the six ratings firms that are presently covering the firm. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $86.60.
JCOM has been the subject of a number of research reports. Citigroup Inc. reaffirmed a “buy” rating on shares of j2 Global in a report on Saturday, July 9th. Zacks Investment Research lowered shares of j2 Global from a “buy” rating to a “strong sell” rating in a report on Tuesday, October 4th. Finally, Robert W. Baird initiated coverage on shares of j2 Global in a report on Tuesday, August 30th. They set an “outperform” rating and a $83.00 target price for the company.
In other j2 Global news, VP Jeremy Rossen sold 1,014 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $67.01, for a total value of $67,948.14. Following the transaction, the vice president now owns 24,708 shares of the company’s stock, valued at $1,655,683.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director W Brian Kretzmer sold 6,600 shares of the company’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $67.95, for a total transaction of $448,470.00. Following the completion of the transaction, the director now directly owns 14,897 shares in the company, valued at approximately $1,012,251.15. The disclosure for this sale can be found here. 5.11% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cortina Asset Management LLC boosted its position in j2 Global by 18.7% in the second quarter. Cortina Asset Management LLC now owns 463,306 shares of the company’s stock worth $29,267,000 after buying an additional 72,872 shares during the last quarter. Bank of Montreal Can bought a new position in j2 Global during the second quarter worth approximately $14,396,000. State Street Corp boosted its position in j2 Global by 1.6% in the first quarter. State Street Corp now owns 1,541,166 shares of the company’s stock worth $94,903,000 after buying an additional 24,835 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in j2 Global during the first quarter worth approximately $445,000. Finally, Jensen Investment Management Inc. boosted its position in j2 Global by 18.6% in the second quarter. Jensen Investment Management Inc. now owns 6,510 shares of the company’s stock worth $411,000 after buying an additional 1,020 shares during the last quarter.
Shares of j2 Global (NASDAQ:JCOM) opened at 64.73 on Wednesday. The company’s 50-day moving average is $67.28 and its 200-day moving average is $65.20. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 23.29 and a beta of 1.11. j2 Global has a one year low of $55.43 and a one year high of $84.15.
j2 Global (NASDAQ:JCOM) last released its earnings results on Wednesday, August 3rd. The company reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ 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 earned $211.80 million during the quarter, compared to analyst estimates of $206.41 million. During the same quarter in the prior year, the firm earned $0.99 earnings per share. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. On average, equities analysts predict that j2 Global will post $4.90 EPS for the current year.
About j2 Global
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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