Deutsche Bank Starts Rightside Group (NAME) at Hold

Deutsche Bank initiated coverage on Rightside Group (NASDAQ: NAME) with a Hold rating and a price target of $8.00.

Analyst Deepak Mathivanan said, "RightSide is a leading domain registrar, and the company’s eNom and Name.com together have 6% market share on traditional .com domains and 8% on the emerging new gTLDs. However, other than domain registrations, RightSide’s product portfolio is very limited in the website presence and tools provider space, which positions the company at a significant disadvantage compared to other scale players such as GoDaddy and Web.com. NAME is basically a venture style investment in public markets, with big option value being placed on the gTLD initiatives. We are launching with a HOLD rating and $8 price target."

For an analyst ratings summary and ratings history on Rightside Group click here. For more ratings news on Rightside Group click here.

Shares of Rightside Group closed at $8.65 yesterday.

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