J2 Global (NASDAQ:JCOM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday, Zacks.com reports. The brokerage currently has a $101.00 price target on the technology company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 4.66% from the stock’s previous close.
According to Zacks, “j2 Global reported impressive fourth-quarter 2019 results. The company witnessed year-over-year earnings and revenue growth, driven by solid performance of the cloud services and the digital media business segments. Cloud services benefited from higher fixed subscriber revenues. The company’s effort to strengthen its speedtest intelligence service is driving subscription revenues. Acquisitions are also strengthening the company’s footprint in service areas like VPN and security. The stock has outperformed the industry in the past year. 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 the top-line mix. Additionally, adjusted EBITDA is likely to be hurt by cybersecurity investments.”
Other equities research analysts have also issued research reports about the company. DA Davidson lifted their price objective on J2 Global from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Citigroup lifted their price target on J2 Global from $104.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday. Wedbush reaffirmed a “buy” rating and set a $110.00 price target on shares of J2 Global in a research note on Tuesday. Piper Jaffray Companies initiated coverage on J2 Global in a research note on Wednesday, November 27th. They set an “overweight” rating for the company. Finally, BidaskClub lowered J2 Global from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $112.88.
NASDAQ:JCOM traded up $0.75 during trading hours on Thursday, hitting $96.50. 2,395 shares of the company’s stock traded hands, compared to its average volume of 368,210. The firm has a market cap of $4.87 billion, a P/E ratio of 22.00, a P/E/G ratio of 1.76 and a beta of 0.75. J2 Global has a 52 week low of $78.00 and a 52 week high of $104.57. The business’s fifty day simple moving average is $98.03 and its two-hundred day simple moving average is $92.90. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.13.
J2 Global (NASDAQ:JCOM) last posted its quarterly earnings data on Monday, February 10th. The technology company reported $2.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.26 by $0.12. The company had revenue of $405.59 million during the quarter, compared to analyst estimates of $393.09 million. J2 Global had a return on equity of 30.21% and a net margin of 15.95%. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter last year, the company earned $2.11 earnings per share. On average, analysts expect that J2 Global will post 7.12 EPS for the current year.
Hedge funds have recently modified their holdings of the business. Evoke Wealth LLC purchased a new position in shares of J2 Global in the third quarter worth about $25,000. Allworth Financial LP purchased a new position in shares of J2 Global in the fourth quarter worth about $27,000. Whittier Trust Co. increased its holdings in shares of J2 Global by 78.9% in the third quarter. Whittier Trust Co. now owns 322 shares of the technology company’s stock worth $29,000 after buying an additional 142 shares during the period. Optimum Investment Advisors purchased a new position in shares of J2 Global in the fourth quarter worth about $30,000. Finally, Flagship Harbor Advisors LLC increased its holdings in shares of J2 Global by 263.0% in the third quarter. Flagship Harbor Advisors LLC now owns 363 shares of the technology company’s stock worth $32,000 after buying an additional 263 shares during the period.
J2 Global Company Profile
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.
Featured Article: What is meant by buying and selling pressure?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for J2 Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J2 Global and related companies with MarketBeat.com's FREE daily email newsletter.