FBR Capital Maintains an 'Outperform' on Web.com Group (WWWW); Good Quarter; Revenue Upside and Better-Than-Expected Subscribers
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Price: $24.72 -0.96%
Rating Summary:
5 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 9 | New: 13
Rating Summary:
5 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 9 | New: 13
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FBR Capital maintains an 'Outperform' on Web.com Group (NASDAQ: WWWW), PT increased from $13 to $17.
FBR analyst says, "We maintain our rating as we believe Web.com is on track to achieve the synergies from its acquisition of Register.com. We expect the company’s two-pronged growth strategy of (1) growing ARPU via cross-selling, and (2) growing its subscriber base via increased spending to result in accelerating sequential revenue growth throughout the course of 2011 and double-digit revenue growth in 2012."
"For 2Q11, we are raising our revenue estimate from $45.2 million to $45.5 million and maintaining our pro forma EPS estimate of $0.23. For 2011, we are raising our revenue estimate from $185 million to $189 million and maintaining our $1.01 pro forma EPS estimate. We note that our 2011 pro forma EPS estimate would have been $1.07 with our prior share count and pro forma tax rate assumptions. We are raising our 2012 revenue and pro forma EPS estimates from $200 million and $1.12 to $208 million and $1.14."
For more ratings news on Web.com Group click here and for the rating history of Web.com Group click here.
Shares of Web.com Group closed at $15.00 yesterday.
FBR analyst says, "We maintain our rating as we believe Web.com is on track to achieve the synergies from its acquisition of Register.com. We expect the company’s two-pronged growth strategy of (1) growing ARPU via cross-selling, and (2) growing its subscriber base via increased spending to result in accelerating sequential revenue growth throughout the course of 2011 and double-digit revenue growth in 2012."
"For 2Q11, we are raising our revenue estimate from $45.2 million to $45.5 million and maintaining our pro forma EPS estimate of $0.23. For 2011, we are raising our revenue estimate from $185 million to $189 million and maintaining our $1.01 pro forma EPS estimate. We note that our 2011 pro forma EPS estimate would have been $1.07 with our prior share count and pro forma tax rate assumptions. We are raising our 2012 revenue and pro forma EPS estimates from $200 million and $1.12 to $208 million and $1.14."
For more ratings news on Web.com Group click here and for the rating history of Web.com Group click here.
Shares of Web.com Group closed at $15.00 yesterday.
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