Web.com Group Inc (WEB) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Web.com Group Inc (NYSE:WEB) from a hold rating to a buy rating in a research note issued to investors on Thursday morning. The firm currently has $20.00 price target 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. “
Other equities research analysts have also recently issued research reports about the stock. Piper Jaffray Cos. restated a buy rating on shares of Web.com Group in a research report on Sunday, June 26th. B. Riley restated a buy rating and issued a $30.00 price objective on shares of Web.com Group in a research report on Wednesday, June 15th. RBC Capital Markets restated a hold rating and issued a $23.00 price objective on shares of Web.com Group in a research report 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 report 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’s stock. The stock presently has a consensus rating of Buy and an average target price of $23.40.
Shares of Web.com Group (NYSE:WEB) opened at 17.35 on Thursday. Web.com Group has a 52-week low of $15.71 and a 52-week high of $25.00. The stock has a market cap of $855.22 million and a P/E ratio of 10.78. The firm has a 50-day moving average of $17.59 and a 200-day moving average of $18.07.
Web.com Group (NYSE:WEB) last posted its quarterly earnings data 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. The company’s revenue was up 38.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. On average, equities analysts expect that Web.com Group will post $2.61 EPS for the current fiscal year.
In other news, major shareholder Opportunistic Value Fun Okumus sold 99,600 shares of Web.com Group stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $18.70, for a total transaction of $1,862,520.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. acquired a new stake in shares of Web.com Group during the second quarter valued at approximately $63,886,000. Okumus Fund Management Ltd. boosted its stake in shares of 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 valued at $173,801,000 after buying an additional 2,543,431 shares in the last quarter. BlackRock Institutional Trust Company N.A. acquired a new stake in shares of Web.com Group during the second quarter valued at approximately $33,859,000. Dimensional Fund Advisors LP acquired a new stake in shares of Web.com Group during the second quarter valued at approximately $32,328,000. Finally, Glenmede Trust Co. NA acquired a new stake in shares of Web.com Group during the second quarter valued at 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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