Zacks Investment Research lowered shares of Web.com Group Inc (NYSE:WEB) from a buy rating to a hold rating in a research report report published on Saturday morning, Market Beat.com reports.
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. "
Shares of Web.com Group (NYSE:WEB) traded up 2.73% during trading on Friday, reaching $18.07. The company's stock had a trading volume of 439,513 shares. The stock has a market cap of $898.35 million and a P/E ratio of 10.51. Web.com Group has a 12-month low of $17.76 and a 12-month high of $18.23. The stock's 50-day moving average is $0.00 and its 200-day moving average is $0.00.
Web.com Group (NYSE:WEB) last released its earnings results on Thursday, February 11th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.63 by $0.03. The firm earned $138.30 million during the quarter, compared to analysts' expectations of $139.47 million. The business's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 earnings per share. Equities research analysts anticipate that Web.com Group will post $2.68 earnings per share for the current fiscal year.
A number of other analysts also recently issued reports on WEB. B. Riley reissued a buy rating and issued a $30.00 target price on shares of Web.com Group in a research report on Monday, December 21st. SunTrust reduced their price target on Web.com Group from $26.00 to $23.00 and set a neutral rating for the company in a research report on Wednesday, December 30th. Piper Jaffray reiterated an overweight rating and issued a $31.00 price target on shares of Web.com Group in a research report on Tuesday, January 5th. Craig Hallum upgraded Web.com Group from a hold rating to a buy rating in a research report on Tuesday, January 19th. Finally, RBC Capital reiterated a sector perform rating and issued a $25.00 price target on shares of Web.com Group in a research report on Monday, February 8th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. The company presently has an average rating of Buy and a consensus price target of $23.83.
In related news, CFO Kevin M. Carney sold 50,000 shares of Web.com Group stock in a transaction on Monday, December 14th. The stock was sold at an average price of $22.82, for a total transaction of $1,141,000.00. Following the completion of the sale, the chief financial officer now owns 166,655 shares of the company's stock, valued at $3,803,067.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
An institutional investor recently bought a new position in Web.com Group stock. Boston Advisors acquired a new stake in shares of Web.com Group Inc (NYSE:WEB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 24,865 shares of the company's stock, valued at approximately $498,000.
Web.com Group, Inc (NYSE:WEB) provides a range of Internet services to small businesses. The Company offers Domain Name Registration and Services, Do-It-For-Me Web Solutions, Do-It-Yourself Web Solutions and Online Marketing Services.
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Source: Web.com Group Inc (WEB) Downgraded by Zacks Investment Research
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