Web.com Group (WEB): Raising PT - Cantor

Cantor Fitzgerald analyst, Naved Khan, reiterated his Neutral rating on shares of Web.com, Inc. (NASDAQ: WEB) and raised his price target to $20 after 4Q results were modestly ahead of expectations on both top line and EBITDA.

Management is seeing good progress in fixing a higher churn in select Yodle offerings even as it has scaled back on sales/marketing initiatives in order to position the business for sustainable/profitable growth. While 1Q will likely be the trough for revenue growth as the company continues to work on the Yodle integration, we opt to remain on the sidelines as we await signs for a return to sustainable growth.

The new $20 PT is up from $18.

For an analyst ratings summary and ratings history on Web.com, Inc. click here. For more ratings news on Web.com, Inc. click here.

Shares of Web.com, Inc. closed at $20.95 yesterday.

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