FBR Comments on Impact of Constant Contact/Endurance Deal in SMB Space (CTCT) (EIGI) (WWWW) (WIX)
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Record new Users and Conversions Contribute to Wix.com (WIX) Revenue Beat; RBC Capital Reiterates Outperform
November 4, 2015 3:09 PM ESTRBC Capital reiterated an Outperform rating on Wix.com (NASDAQ: WIX), and raised the price target to $36.00 (from $30.00), following the company's 3Q earnings report. Revenue of $53.6MM came in ahead of the Street's estimate of $52.6MM and guidance. Record new Users and Conversions,... More
Wix.com (WIX) Reported Record Net New Subscribers; Needham & Company Reiterates Buy
November 4, 2015 2:24 PM ESTNeedham & Company reiterated a Buy rating and $30.00 price target on Wix.com (NASDAQ: WIX) following the company's 3Q earnings report. Wix reported a record 140K net new subscribers in Q3, which were driven by higher conversions and higher priced annual packages as a result... More
Roth Capital Cuts Price Target on Constant Contact (CTCT) Following Announced Acquisition by Endurance International Group (EIGI)
November 3, 2015 7:09 AM ESTRoth Capital downgraded Constant Contact (NASDAQ: CTCT) to a Neutral rating (from Buy), and cut the price target to $32.00 (from $38.00), following the company's announcement that it will be acquired by Endurance International Group (NASDAQ: EIGI).... More
Cowen Downgrades Endurance International Group (EIGI) to Market Perform
November 2, 2015 1:44 PM ESTCowen downgraded Endurance International Group (NASDAQ: EIGI) from Outperform to Market Perform with a price target of $12.00 (from $18.00) on subpar Q3 and Constant Contact deal.
Analyst Gregg Moskowitz commented, "EIGI reported roughly in line revenue and EBITDA, but organic growth decelerated again, and 4Q... More
Endurance International Group (EIGI) to Acquire Constant Contact (CTCT) for About $1.1B
November 2, 2015 7:02 AM EST
Endurance International Group Holdings, Inc. (NASDAQ: EIGI), and Constant Contact, Inc. (NASDAQ: CTCT) announced that the two companies have entered into a definitive agreement under which Endurance International will acquire all of Constant Contact's outstanding shares of common stock for $32.00 per share in cash, valuing Constant Contact at approximately $1.1 billion. The value represents a multiple of 12x 2015 estimated adjusted EBITDA, including cash on its balance sheet. Including expected synergies, this represents a multiple of 7x... More
