Wedbush assumed coverage on shares of J2 Global (NASDAQ:JCOM) in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $95.00 price target on the technology company’s stock.
Other research analysts have also issued research reports about the company. BidaskClub lowered J2 Global from a strong-buy rating to a buy rating in a report on Saturday, July 14th. Robert W. Baird restated a buy rating and issued a $92.00 target price on shares of J2 Global in a report on Monday, August 13th. Citigroup dropped their target price on J2 Global from $88.00 to $86.00 and set a neutral rating on the stock in a report on Monday, August 13th. Finally, ValuEngine downgraded J2 Global from a hold rating to a sell rating in a research report on Friday, October 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $93.25.
Shares of JCOM stock traded down $0.32 during trading hours on Thursday, reaching $73.49. The company had a trading volume of 10,093 shares, compared to its average volume of 399,132. J2 Global has a 12 month low of $70.27 and a 12 month high of $91.58. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $3.71 billion, a PE ratio of 13.84, a P/E/G ratio of 1.63 and a beta of 0.89.
In related news, VP Jeremy Rossen sold 2,457 shares of the stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $81.17, for a total transaction of $199,434.69. Following the completion of the sale, the vice president now directly owns 30,715 shares of the company’s stock, valued at $2,493,136.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vivek Shah sold 3,000 shares of the stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $72.55, for a total value of $217,650.00. Following the sale, the chief executive officer now directly owns 717,830 shares of the company’s stock, valued at $52,078,566.50. The disclosure for this sale can be found here. Insiders have sold 12,509 shares of company stock valued at $996,327 over the last ninety days. 5.15% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of JCOM. Fort L.P. purchased a new stake in J2 Global in the second quarter worth $120,000. Itau Unibanco Holding S.A. purchased a new stake in J2 Global in the second quarter worth $194,000. World Asset Management Inc purchased a new stake in J2 Global in the second quarter worth $208,000. Hsbc Holdings PLC purchased a new stake in J2 Global in the first quarter worth $213,000. Finally, West Branch Capital LLC purchased a new stake in J2 Global in the second quarter worth $285,000. 99.64% of the stock is owned by institutional investors.
J2 Global Company Profile
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.
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.