Trading Report: Today, Zacks Investment Research Lowers Web.com Group Inc (WEB) to Hold

Today, Zacks Investment Research Lowers Web.com Group Inc (WEB) to Hold

Zacks Investment Research cut shares of Web.com Group Inc (NYSE:WEB) from a buy rating to a hold rating in a report published on Wednesday morning.

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 have also recently commented on WEB. B. Riley reaffirmed a buy rating and set a $30.00 target price on shares of Web.com Group in a research note on Friday, August 5th. Piper Jaffray Cos. reaffirmed a buy rating and set a $31.00 target price on shares of Web.com Group in a research note on Monday, July 18th. RBC Capital Markets reaffirmed a hold rating and set a $23.00 target price on shares of Web.com Group in a research note on Sunday, August 7th. Finally, Deutsche Bank AG decreased their target price on 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. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $23.40.

Web.com Group (NYSE:WEB) opened at 16.30 on Wednesday. The firm’s 50 day moving average price is $17.48 and its 200 day moving average price is $18.02. The firm has a market cap of $803.46 million and a price-to-earnings ratio of 10.12. Web.com Group has a 52-week low of $15.10 and a 52-week high of $25.00.

Web.com Group (NYSE:WEB) last issued its quarterly earnings results 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 quarterly revenue was up 38.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 EPS. Equities research analysts anticipate that Web.com Group will post $2.61 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in WEB. Virginia Retirement Systems ET AL purchased a new position in shares of Web.com Group during the second quarter valued at about $576,000. Genesee Valley Trust Co. purchased a new position in shares of Web.com Group during the second quarter valued at about $740,000. Boston Advisors LLC purchased a new position in shares of Web.com Group during the second quarter valued at about $502,000. First Trust Advisors LP purchased a new position in shares of Web.com Group during the second quarter valued at about $27,154,000. Finally, Bank of Montreal Can purchased a new position in shares of Web.com Group during the second quarter valued at about $183,000.

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.

Related posts

Leave a Comment