Zacks Investment Research upgraded shares of J2 Global (NASDAQ:JCOM) from a hold rating to a buy rating in a report published on Friday morning, Zacks.com reports. Zacks Investment Research currently has $99.00 target price on the technology company’s stock.
According to Zacks, “j2 Global is riding on robust cloud services and digital media business segments. Strengthening speedtest intelligence service is benefiting subscription revenues. Buyouts aid its footprint in VPN and security services. Dividend payout suspension to invest in growth areas like digital content, privacy and security, and small and medium businesses holds promise. The stock has outperformed the industry on a year-to-date basis. Estimates have been stable ahead of the company’s Q3 earnings release. The company has a positive record of earnings surprises in the recent quarters. However, weakness in the data backup business is a concern. Also, margins are likely to be under pressure as revenues from the Digital Media segment increase in the top-line mix. Adjusted EBITDA growth is likely to be hurt by cybersecurity investments in 2019.”
A number of other analysts also recently weighed in on JCOM. JMP Securities reiterated a market outperform rating and set a $105.00 price target (up from $100.00) on shares of J2 Global in a report on Thursday, October 3rd. ValuEngine downgraded J2 Global from a hold rating to a sell rating in a report on Wednesday, October 2nd. BidaskClub upgraded J2 Global from a hold rating to a buy rating in a report on Saturday, September 14th. Finally, Sidoti raised their target price on J2 Global from $110.00 to $116.00 and gave the company a buy rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. J2 Global presently has a consensus rating of Buy and an average target price of $105.00.
Shares of J2 Global stock opened at $95.88 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average price of $89.19 and a two-hundred day moving average price of $87.39. J2 Global has a 1-year low of $65.07 and a 1-year high of $96.50. The company has a market cap of $4.68 billion, a P/E ratio of 15.41 and a beta of 0.80.
J2 Global (NASDAQ:JCOM) last issued its quarterly earnings results on Tuesday, August 6th. The technology company reported $1.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.05. J2 Global had a return on equity of 28.85% and a net margin of 11.61%. The firm had revenue of $322.43 million during the quarter, compared to the consensus estimate of $320.25 million. During the same period last year, the business posted $1.50 EPS. The business’s revenue was up 12.0% compared to the same quarter last year. Equities research analysts forecast that J2 Global will post 6.63 EPS for the current fiscal year.
In related news, VP Jeremy Rossen sold 2,617 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $83.50, for a total value of $218,519.50. Following the transaction, the vice president now owns 32,440 shares of the company’s stock, valued at approximately $2,708,740. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director W Brian Kretzmer sold 1,800 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $87.03, for a total transaction of $156,654.00. Following the completion of the transaction, the director now directly owns 7,256 shares in the company, valued at approximately $631,489.68. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its position in J2 Global by 5.6% in the 2nd quarter. AQR Capital Management LLC now owns 920,423 shares of the technology company’s stock valued at $80,647,000 after acquiring an additional 48,701 shares in the last quarter. Janus Henderson Group PLC lifted its position in J2 Global by 7.2% in the 2nd quarter. Janus Henderson Group PLC now owns 755,820 shares of the technology company’s stock valued at $67,185,000 after acquiring an additional 50,470 shares in the last quarter. Prudential Financial Inc. lifted its position in J2 Global by 13.0% in the 2nd quarter. Prudential Financial Inc. now owns 582,664 shares of the technology company’s stock valued at $51,793,000 after acquiring an additional 66,999 shares in the last quarter. Nuveen Asset Management LLC lifted its position in J2 Global by 8,400.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 458,928 shares of the technology company’s stock valued at $40,794,000 after acquiring an additional 453,529 shares in the last quarter. Finally, Rothschild & Co. Asset Management US Inc. lifted its position in J2 Global by 4.0% in the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 456,702 shares of the technology company’s stock valued at $40,596,000 after acquiring an additional 17,374 shares in the last quarter.
About J2 Global
j2 Global, Inc, together with its subsidiaries, provides Internet services worldwide. It operates through three segments: Fax and Email Marketing; Voice, Backup, and Security; and Digital Media. The company offers cloud services to sole proprietors, small to medium-sized businesses and enterprises, and government organizations.
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