Zacks Investment Research upgraded shares of Web.com Group Inc (NYSE:WEB) from a hold rating to a buy rating in a report issued on Thursday. The firm currently has $20.00 price objective on the stock.
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. “
WEB has been the subject of several other research reports. B. Riley reissued a buy rating and issued a $30.00 price objective on shares of Web.com Group in a research note on Friday, August 5th. Piper Jaffray Cos. reissued a buy rating and issued a $31.00 price objective on shares of Web.com Group in a research note on Monday, July 18th. RBC Capital Markets reissued a hold rating and issued a $23.00 price objective on shares of Web.com Group in a research note on Sunday, August 7th. Finally, Deutsche Bank AG lowered their price objective 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. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $23.40.
Shares of Web.com Group (NYSE:WEB) traded down 0.98% on Thursday, reaching $17.24. 93,171 shares of the company’s stock were exchanged. The firm has a market capitalization of $849.79 million and a P/E ratio of 10.71. Web.com Group has a one year low of $15.71 and a one year high of $25.00. The firm has a 50 day moving average of $17.61 and a 200 day moving average of $18.11.
Web.com Group (NYSE:WEB) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The company had revenue of $193.90 million for the quarter, compared to analyst estimates of $194.14 million. During the same quarter in the prior year, the business earned $0.60 earnings per share. Web.com Group’s revenue was up 38.5% on a year-over-year basis. On average, equities research analysts predict that Web.com Group will post $2.61 EPS for the current year.
In other Web.com Group news, major shareholder Opportunistic Value Fun Okumus sold 99,600 shares of the 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.
A number of hedge funds have recently modified their holdings of WEB. Tocqueville Asset Management L.P. purchased a new stake in shares of Web.com Group during the second quarter valued at about $5,949,000. ClariVest Asset Management LLC purchased a new stake in shares of Web.com Group during the second quarter valued at about $165,000. First Midwest Bank Trust Division purchased a new stake in shares of Web.com Group during the second quarter valued at about $440,000. Alps Advisors Inc. purchased a new stake in shares of Web.com Group during the second quarter valued at about $417,000. Finally, American Century Companies Inc. purchased a new stake in shares of Web.com Group during the second quarter valued at about $5,597,000.
Web.com Group Company Profile
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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