Web.com Group Inc (WEB) Downgraded by Zacks Investment Research to Hold
Web.com Group Inc (NYSE:WEB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report 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. “
A number of other research firms also recently commented on WEB. B. Riley reiterated a “buy” rating and set a $30.00 target price on shares of Web.com Group in a research report on Friday, August 5th. Piper Jaffray Cos. reiterated a “buy” rating and set a $27.00 target price on shares of Web.com Group in a research report on Friday, August 5th. RBC Capital Markets reiterated a “hold” rating and set a $23.00 target price on shares of Web.com Group in a research report 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 on the stock in a research report on Friday, August 5th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Web.com Group presently has an average rating of “Hold” and a consensus target price of $23.40.
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Shares of Web.com Group (NYSE:WEB) traded up 1.79% during mid-day trading on Wednesday, hitting $17.10. The company’s stock had a trading volume of 240,142 shares. The company has a market cap of $842.89 million and a PE ratio of 10.62. Web.com Group has a 12-month low of $15.71 and a 12-month high of $25.00. The stock has a 50-day moving average of $17.56 and a 200-day moving average of $18.06.
Web.com Group (NYSE:WEB) last released its earnings results on Thursday, August 4th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ 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 for the quarter was up 38.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 EPS. On average, equities research analysts forecast that Web.com Group will post $2.61 EPS for the current year.
In other news, major shareholder Opportunistic Value Fun Okumus sold 99,600 shares of the company’s stock in a transaction on Thursday, July 14th. The stock was 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 SEC, which is available through this link.
Several hedge funds have recently modified their holdings of the stock. Virginia Retirement Systems ET AL acquired a new position in Web.com Group during the second quarter valued at $576,000. Genesee Valley Trust Co. acquired a new position in Web.com Group during the second quarter valued at $740,000. First Trust Advisors LP acquired a new position in Web.com Group during the second quarter valued at $27,154,000. Boston Advisors LLC acquired a new position in Web.com Group during the second quarter valued at $502,000. Finally, Bank of Montreal Can acquired a new position in Web.com Group during the second quarter valued at $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.
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