j2 Global, Inc. (JCOM) Given Average Recommendation of “Buy” by Analysts
Shares of j2 Global, Inc. (NASDAQ:JCOM) have received an average recommendation of “Buy” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $105.33.
Several research analysts have recently weighed in on the stock. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $120.00 price target (up previously from $95.00) on shares of j2 Global in a research note on Tuesday, May 9th. BidaskClub upgraded shares of j2 Global from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Finally, Zacks Investment Research cut shares of j2 Global from a “buy” rating to a “hold” rating in a research note on Wednesday, April 12th.
In related news, Director Robert J. Cresci sold 9,000 shares of j2 Global stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $88.67, for a total transaction of $798,030.00. Following the transaction, the director now owns 84,569 shares in the company, valued at approximately $7,498,733.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Jeremy Rossen sold 1,094 shares of j2 Global stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $88.65, for a total transaction of $96,983.10. Following the transaction, the vice president now owns 31,466 shares in the company, valued at approximately $2,789,460.90. The disclosure for this sale can be found here. Insiders have sold a total of 29,758 shares of company stock worth $2,583,053 in the last quarter. Corporate insiders own 5.15% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in j2 Global by 21,973.5% in the first quarter. BlackRock Inc. now owns 4,838,726 shares of the technology company’s stock worth $406,018,000 after buying an additional 4,816,805 shares during the period. Vanguard Group Inc. boosted its position in j2 Global by 4.7% in the first quarter. Vanguard Group Inc. now owns 3,781,603 shares of the technology company’s stock worth $317,314,000 after buying an additional 170,245 shares during the period. State Street Corp boosted its position in j2 Global by 6.6% in the first quarter. State Street Corp now owns 1,603,454 shares of the technology company’s stock worth $134,551,000 after buying an additional 99,731 shares during the period. Macquarie Group Ltd. boosted its position in j2 Global by 5.6% in the first quarter. Macquarie Group Ltd. now owns 1,254,327 shares of the technology company’s stock worth $105,251,000 after buying an additional 66,286 shares during the period. Finally, Schroder Investment Management Group boosted its position in j2 Global by 31.9% in the first quarter. Schroder Investment Management Group now owns 1,210,417 shares of the technology company’s stock worth $102,498,000 after buying an additional 292,945 shares during the period.
Shares of j2 Global (JCOM) traded up 0.196% during midday trading on Friday, reaching $84.375. 72,148 shares of the company’s stock were exchanged. j2 Global has a one year low of $62.55 and a one year high of $91.48. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 27.782 and a beta of 0.95. The firm has a 50 day moving average of $86.04 and a 200-day moving average of $84.91.
j2 Global (NASDAQ:JCOM) last issued its quarterly earnings results on Monday, May 8th. The technology company reported $1.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by $0.07. The business had revenue of $254.70 million for the quarter, compared to analysts’ expectations of $258.15 million. j2 Global had a return on equity of 26.41% and a net margin of 15.98%. The company’s revenue was up 27.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 EPS. On average, equities research analysts anticipate that j2 Global will post $5.84 earnings per share for the current year.
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About j2 Global
j2 Global, Inc is a provider of services delivered through the Internet. The Company provides cloud services to businesses of all sizes, from individuals to enterprises. The Company operates in two segments: Business Cloud Services and Digital Media. The Company’s Digital Media business segment consists of the Web properties and business operations of Ziff Davis, Inc (Ziff Davis).
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