Web.com Group Receives a Buy from Piper Jaffray

By Austin Angelo

Piper Jaffray analyst Samuel Kemp reiterated a Buy rating on Web.com Group (NASDAQ: WEB) yesterday and set a price target of $22. The company’s shares closed yesterday at $15.55, close to its 52-week low of $15.10.

According to TipRanks.com, Kemp is a 3-star analyst with an average return of 3.0% and a 46.2% success rate. Kemp covers the Technology sector, focusing on stocks such as Groupon Inc, HomeAway, and GoDaddy.

Web.com Group has an analyst consensus of Moderate Buy, with a price target consensus of $21.

The company has a one year high of $25 and a one year low of $15.10. Currently, Web.com Group has an average volume of 303K.

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock. Most recently, in July 2016, Okumus Fund Management Ltd., a Major Shareholder at WEB sold 99,600 shares for a total of $1,862,520.

Web.com Group, Inc. engages in the provision of Internet services and online marketing solutions for small to medium-sized businesses. Its solutions include domains, hosting, website design and management, search engine optimization, online marketing campaigns, local sales leads, social media, mobile products, and eCommerce solutions. It markets directly to customers, through inbound and outbound channels, and through a number of strategic partners that focus on the small business marketplace. The company was founded on March 2, 1999 and is headquartered in Jacksonville, FL.