Roth Capital Raises Price Target on Web.com Group (WWWW) to $28 Following 2Q15 Results
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Rating Summary:
5 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
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Roth Capital reiterated a Buy rating on Web.com Group (NASDAQ: WWWW), and raised the price target to $28.00 (from $27.00), following 2Q15 results. Non-GAAP EPS of $0.60 beat consensus of $0.57. WWWW updated guidance for 3Q15 to non-GAAP revenue and EPS in the ranges of $138.5-140mm, with $0.59-0.61 EPS. Full-year guidance now calls for revenue of $554-558mm (up from $549-555mm) with EPS of $2.36-2.42 (up from $2.30-4.41).
Analyst Jeff Martin commented, "2Q15 results beat expectations on continued progress in an increasingly competitive market for Do-it-yourself and domains. We look for continued, gradual improvements in metrics and a return to positive y/y revenue comparisons in 4Q15. Management continues to aggressively de-lever the balance sheet and has $59.2mm remaining under its repurchase authorization. Reiterate Buy."
For an analyst ratings summary and ratings history on Web.com Group click here. For more ratings news on Web.com Group click here.
Shares of Web.com Group closed at $24.89 yesterday.
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