Wedbush Reiterates “Buy” Rating for J2 Global (JCOM)

Wedbush reaffirmed their buy rating on shares of J2 Global (NASDAQ:JCOM) in a research report report published on Tuesday. They currently have a $95.00 target price on the technology company’s stock.

JCOM has been the subject of several other research reports. BidaskClub upgraded J2 Global from a sell rating to a hold rating in a research note on Wednesday, August 29th. ValuEngine cut J2 Global from a hold rating to a sell rating in a research note on Friday, October 12th. Citigroup decreased their target price on J2 Global from $88.00 to $86.00 and set a neutral rating for the company in a research note on Monday, August 13th. Finally, Robert W. Baird restated a buy rating and set a $92.00 target price on shares of J2 Global in a research note on Monday, August 13th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. J2 Global currently has an average rating of Hold and a consensus price target of $93.25.

JCOM stock opened at $74.87 on Tuesday. The company has a market cap of $3.53 billion, a P/E ratio of 13.84, a price-to-earnings-growth ratio of 1.55 and a beta of 0.94. J2 Global has a fifty-two week low of $69.09 and a fifty-two week high of $91.58. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.17 and a quick ratio of 2.17.

J2 Global (NASDAQ:JCOM) last posted its earnings results on Monday, November 5th. The technology company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.12. The firm had revenue of $292.72 million during the quarter, compared to analysts’ expectations of $295.19 million. J2 Global had a return on equity of 26.39% and a net margin of 11.19%. As a group, sell-side analysts anticipate that J2 Global will post 5.79 earnings per share for the current fiscal year.

In other J2 Global news, VP Jeremy Rossen sold 2,457 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $81.17, for a total value of $199,434.69. Following the completion of the sale, the vice president now owns 30,715 shares in the company, valued at $2,493,136.55. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Steve P. Dunn sold 1,052 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $83.90, for a total value of $88,262.80. Following the completion of the sale, the insider now owns 18,416 shares of the company’s stock, valued at approximately $1,545,102.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,509 shares of company stock valued at $996,327. 5.97% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of JCOM. First Trust Advisors LP lifted its stake in J2 Global by 13.5% in the third quarter. First Trust Advisors LP now owns 1,965,705 shares of the technology company’s stock valued at $162,859,000 after buying an additional 234,167 shares during the last quarter. RE Advisers Corp raised its stake in shares of J2 Global by 99.5% during the second quarter. RE Advisers Corp now owns 410,935 shares of the technology company’s stock worth $35,591,000 after purchasing an additional 205,000 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of J2 Global by 18.8% during the second quarter. Macquarie Group Ltd. now owns 1,016,872 shares of the technology company’s stock worth $88,071,000 after purchasing an additional 161,215 shares during the last quarter. LSV Asset Management purchased a new stake in shares of J2 Global during the second quarter worth approximately $11,874,000. Finally, Sei Investments Co. raised its stake in shares of J2 Global by 27.4% during the second quarter. Sei Investments Co. now owns 478,446 shares of the technology company’s stock worth $41,438,000 after purchasing an additional 103,020 shares during the last quarter. Institutional investors own 99.90% of the company’s stock.

About J2 Global

j2 Global, Inc, together with its subsidiaries, engages in the provision of Internet services worldwide. It operates through two segments, Cloud Services and Digital Media. The Cloud Services segment offers cloud services to sole proprietors, small to medium-sized businesses and enterprises, and government organizations.

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Analyst Recommendations for J2 Global (NASDAQ:JCOM)

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