Web.com Group Inc (WEB) Coverage Initiated at Cantor Fitzgerald
Analysts at Cantor Fitzgerald began coverage on shares of Web.com Group Inc (NYSE:WEB) in a report released on Tuesday, The Fly reports. The firm set a “hold” rating on the stock.
Other equities research analysts have also issued research reports about the stock. B. Riley reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Web.com Group in a research note on Wednesday, August 10th. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Web.com Group in a research note on Sunday, June 26th. Zacks Investment Research raised shares of Web.com Group from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Thursday, July 7th. RBC Capital Markets reaffirmed 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 reduced 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. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $23.40.
Web.com Group (NYSE:WEB) remained flat at $16.05 during trading on Tuesday. The stock had a trading volume of 285,152 shares. The firm has a market capitalization of $791.14 million and a PE ratio of 9.97. The company has a 50-day moving average price of $17.44 and a 200-day moving average price of $17.97. Web.com Group has a 52-week low of $15.10 and a 52-week high of $25.00.
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Web.com Group (NYSE:WEB) last issued its earnings results on Thursday, August 4th. The company reported $0.62 earnings per share (EPS) 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 period last year, the business earned $0.60 EPS. The company’s quarterly revenue was up 38.5% on a year-over-year basis. Equities research analysts forecast 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 added to or reduced their stakes in the company. Genesee Valley Trust Co. purchased a new position in Web.com Group during the second quarter worth $740,000. Virginia Retirement Systems ET AL purchased a new position in Web.com Group during the second quarter worth $576,000. Boston Advisors LLC purchased a new position in Web.com Group during the second quarter worth $502,000. First Trust Advisors LP purchased a new position in Web.com Group during the second quarter worth $27,154,000. Finally, Bank of Montreal Can purchased a new position in Web.com Group during the second quarter worth $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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