Ancestry.com (ACOM) Crushed on NBC Cancelation, Goldman Says Buy on Weakness

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Shares of Ancestry.com Inc. (Nasdaq: ACOM) are under massive pressure early Monday after NBC decided not to renew the "Who Do You Think You Are?" television series for a fourth season.

Ancestry.com last traded at $21.50, down nearly 18 percent.

Analysts at Goldman Sachs believe the stock is a Buy on the weakness. "We believe that allocating subscriber acquisition spending to other channels like social, search, and mobile may be of greater benefit to subscriber growth longterm," the firm said.

At 6X 2013E EV/EBITDA versus 13X for the Internet average, shares are cheap Goldman argues.

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