BidaskClub downgraded shares of J2 Global (NASDAQ:JCOM) from a strong-buy rating to a buy rating in a research report released on Friday morning, BidAskClub reports.
Several other analysts also recently issued reports on the company. Barclays upped their price objective on J2 Global from $83.00 to $90.00 and gave the company an equal weight rating in a research report on Wednesday, November 4th. Smith Barney Citigroup increased their target price on J2 Global from $90.00 to $100.00 in a research report on Wednesday, November 4th. Robert W. Baird increased their target price on J2 Global from $85.00 to $90.00 and gave the stock an outperform rating in a research report on Wednesday, November 4th. They noted that the move was a valuation call. JPMorgan Chase & Co. increased their target price on J2 Global from $105.00 to $120.00 and gave the stock an overweight rating in a research report on Wednesday. Finally, Sidoti increased their target price on J2 Global from $104.00 to $107.00 and gave the stock a buy rating in a research report on Thursday, October 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $99.50.
Shares of NASDAQ:JCOM opened at $98.41 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.91. J2 Global has a 52-week low of $53.24 and a 52-week high of $104.57. The stock’s fifty day simple moving average is $86.57 and its 200-day simple moving average is $72.71. The company has a market capitalization of $4.49 billion, a P/E ratio of 22.21, a P/E/G ratio of 1.68 and a beta of 0.98.
J2 Global (NASDAQ:JCOM) last issued its quarterly earnings data on Monday, November 2nd. The technology company reported $2.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.76 by $0.26. J2 Global had a return on equity of 26.87% and a net margin of 15.12%. The business had revenue of $356.98 million for the quarter, compared to the consensus estimate of $338.56 million. During the same period in the prior year, the business earned $1.70 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts anticipate that J2 Global will post 7.49 earnings per share for the current year.
In other news, CFO R Scott Turicchi sold 1,727 shares of the stock in a transaction dated Monday, November 30th. The stock was sold at an average price of $90.00, for a total value of $155,430.00. Following the completion of the sale, the chief financial officer now owns 294,059 shares in the company, valued at $26,465,310. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jeremy Rossen sold 3,500 shares of the stock in a transaction dated Monday, November 23rd. The shares were sold at an average price of $87.00, for a total value of $304,500.00. Following the completion of the sale, the vice president now owns 19,787 shares of the company’s stock, valued at approximately $1,721,469. The disclosure for this sale can be found here. Insiders have sold 215,550 shares of company stock valued at $21,033,766 over the last 90 days. 6.11% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of JCOM. Harbor Investment Advisory LLC grew its stake in shares of J2 Global by 105.0% in the third quarter. Harbor Investment Advisory LLC now owns 576 shares of the technology company’s stock valued at $40,000 after buying an additional 295 shares in the last quarter. Private Advisor Group LLC acquired a new stake in shares of J2 Global in the second quarter valued at about $41,000. Eudaimonia Partners LLC acquired a new stake in shares of J2 Global in the third quarter valued at about $61,000. Financial Management Professionals Inc. grew its stake in shares of J2 Global by 36.5% in the third quarter. Financial Management Professionals Inc. now owns 1,433 shares of the technology company’s stock valued at $99,000 after buying an additional 383 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of J2 Global in the third quarter valued at about $142,000. Institutional investors and hedge funds own 98.37% of the company’s stock.
J2 Global Company Profile
J2 Global, Inc, together with its subsidiaries, provides Internet services worldwide. The company operates through three segments: Fax and Martech; Voice, Backup, Security, and Consumer Privacy and Protection; and Digital Media. It offers cloud services, which includes online fax services under the eFax, sFax, MyFax, eFax Plus, eFax Pro, eFax Secure, eFax Corporate, and eFax Developer brands; on-demand voice, cloud phone, and unified communications services under the eVoice, Line2, and Onebox names; online backup and disaster recovery, sync storage, veeam services, and synchronization and sharing solutions under the KeepItSafe, LiveDrive, LiveVault, OffsiteDataSync, and SugarSync names; email security, web security, and endpoint protection services under the VIPRE and Excel Micro brands; email marketing and delivery services under the Campaigner and SMTP names; virtual private network services under the IPVanish and Encrypt.me; IP licensing services; and customer support services.
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