Citigroup Inc. Lowers j2 Global, Inc. (JCOM) Price Target to $88.00
j2 Global, Inc. (NASDAQ:JCOM) had its price target lowered by analysts at Citigroup Inc. from $89.00 to $88.00 in a research note issued to investors on Monday. The firm presently has a “neutral” rating on the technology company’s stock. Citigroup Inc.’s price target suggests a potential upside of 13.24% from the company’s previous close.
A number of other analysts have also commented on JCOM. BidaskClub lowered j2 Global from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Zacks Investment Research lowered j2 Global from a “buy” rating to a “hold” rating in a report on Wednesday, April 12th. Finally, Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $120.00 target price (up previously from $95.00) on shares of j2 Global in a research report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $100.00.
Shares of j2 Global (NASDAQ:JCOM) traded down 0.27% on Monday, hitting $77.50. The stock had a trading volume of 325,198 shares. j2 Global has a one year low of $62.55 and a one year high of $91.48. The stock has a market capitalization of $3.73 billion, a PE ratio of 25.52 and a beta of 0.94. The firm’s 50 day moving average is $85.70 and its 200-day moving average is $84.96.
j2 Global (NASDAQ:JCOM) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by $0.06. The firm had revenue of $273.20 million during the quarter, compared to the consensus estimate of $271.89 million. j2 Global had a net margin of 14.74% and a return on equity of 26.62%. The business’s revenue for the quarter was up 29.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 earnings per share. Equities research analysts expect that j2 Global will post $5.78 earnings per share for the current fiscal year.
In related news, Director W Brian Kretzmer sold 1,336 shares of j2 Global stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $86.20, for a total value of $115,163.20. Following the sale, the director now owns 11,607 shares of the company’s stock, valued at $1,000,523.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Douglas Y. Bech sold 15,000 shares of j2 Global stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $85.86, for a total value of $1,287,900.00. Following the completion of the sale, the director now directly owns 123,966 shares in the company, valued at approximately $10,643,720.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,758 shares of company stock worth $2,583,053. 5.15% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in JCOM. Meadow Creek Investment Management LLC increased its stake in j2 Global by 7.0% in the first quarter. Meadow Creek Investment Management LLC now owns 1,216 shares of the technology company’s stock worth $102,000 after buying an additional 80 shares in the last quarter. Fifth Third Bancorp increased its stake in j2 Global by 14.8% in the first quarter. Fifth Third Bancorp now owns 1,444 shares of the technology company’s stock worth $121,000 after buying an additional 186 shares in the last quarter. Ledyard National Bank bought a new stake in j2 Global during the first quarter worth about $138,000. Neuburgh Advisers LLC increased its stake in j2 Global by 7.0% in the first quarter. Neuburgh Advisers LLC now owns 1,672 shares of the technology company’s stock worth $140,000 after buying an additional 110 shares in the last quarter. Finally, Tyers Asset Management LLC increased its stake in j2 Global by 7.0% in the first quarter. Tyers Asset Management LLC now owns 2,128 shares of the technology company’s stock worth $179,000 after buying an additional 140 shares in the last quarter.
j2 Global Company Profile
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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