Web.com Group Inc (NYSE:WEB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note 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. “
Several other research firms also recently issued reports on WEB. B. Riley reissued a “buy” rating and issued a $30.00 price target on shares of Web.com Group in a research note on Friday, August 5th. Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $27.00 target price on shares of Web.com Group in a research report on Friday, August 5th. RBC Capital Markets reaffirmed a “hold” rating and issued a $23.00 target price on shares of Web.com Group in a research report on Sunday, August 7th. Finally, Deutsche Bank AG lowered their target price 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. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Web.com Group presently has a consensus rating of “Hold” and a consensus price target of $23.40.
Web.com Group (NYSE:WEB) opened at 16.35 on Wednesday. The firm has a 50-day moving average price of $17.51 and a 200 day moving average price of $18.04. The firm has a market cap of $805.92 million and a PE ratio of 10.16. Web.com Group has a 12-month low of $15.10 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 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.03. The firm earned $193.90 million during the quarter, compared to analyst estimates of $194.14 million. During the same period in the prior year, the business earned $0.60 EPS. The business’s revenue for the quarter was up 38.5% compared to the same quarter last year. Equities research analysts forecast that Web.com Group will post $2.61 EPS for the current year.
Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. acquired a new position in Web.com Group during the second quarter worth approximately $63,886,000. Okumus Fund Management Ltd. boosted 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 worth $173,801,000 after buying an additional 2,543,431 shares during the last quarter. BlackRock Institutional Trust Company N.A. acquired a new position in Web.com Group during the second quarter worth approximately $33,859,000. Dimensional Fund Advisors LP acquired a new position in Web.com Group during the second quarter worth approximately $32,328,000. Finally, Glenmede Trust Co. NA acquired a new position in Web.com Group during the second quarter worth approximately $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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