J2 Global (JCOM) Lowered to Sell at ValuEngine

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ValuEngine cut shares of J2 Global (NASDAQ:JCOM) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

Other equities analysts have also recently issued reports about the stock. BidaskClub cut shares of J2 Global from a strong-buy rating to a buy rating in a report on Saturday, July 14th. Robert W. Baird reissued a buy rating and issued a $92.00 price objective on shares of J2 Global in a research note on Monday, August 13th. Finally, Citigroup dropped their price objective on shares of J2 Global from $88.00 to $86.00 and set a neutral rating on the stock in a research note on Monday, August 13th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. J2 Global has a consensus rating of Hold and an average target price of $92.67.

Shares of J2 Global stock traded up $0.30 during trading on Friday, reaching $72.69. The company’s stock had a trading volume of 455,229 shares, compared to its average volume of 351,654. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.79 and a beta of 0.89. J2 Global has a fifty-two week low of $70.27 and a fifty-two week high of $91.58. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.17 and a quick ratio of 2.17.

J2 Global (NASDAQ:JCOM) last announced its earnings results on Thursday, August 9th. The technology company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.06. The business had revenue of $287.89 million for the quarter, compared to analysts’ expectations of $299.59 million. J2 Global had a net margin of 11.19% and a return on equity of 26.39%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.33 EPS. Analysts anticipate that J2 Global will post 5.79 earnings per share for the current year.

In other J2 Global news, CEO Vivek Shah sold 3,000 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $81.43, for a total value of $244,290.00. Following the transaction, the chief executive officer now directly owns 723,830 shares of the company’s stock, valued at approximately $58,941,476.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jeremy Rossen sold 2,457 shares of the business’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $81.17, for a total transaction of $199,434.69. Following the completion of the transaction, the vice president now directly owns 30,715 shares in the company, valued at $2,493,136.55. The disclosure for this sale can be found here. Insiders sold a total of 12,509 shares of company stock worth $1,042,107 over the last three months. 5.97% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of JCOM. New York State Common Retirement Fund raised its stake in J2 Global by 10.0% in the 1st quarter. New York State Common Retirement Fund now owns 63,259 shares of the technology company’s stock valued at $4,992,000 after purchasing an additional 5,759 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in J2 Global by 3.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 29,217 shares of the technology company’s stock valued at $2,306,000 after purchasing an additional 986 shares during the last quarter. California Public Employees Retirement System raised its stake in J2 Global by 7.9% in the 1st quarter. California Public Employees Retirement System now owns 123,319 shares of the technology company’s stock valued at $9,732,000 after purchasing an additional 9,030 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in J2 Global by 13.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 980,158 shares of the technology company’s stock valued at $77,354,000 after purchasing an additional 112,671 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in J2 Global in the 1st quarter valued at about $213,000. Institutional investors own 99.75% of the company’s stock.

About J2 Global

j2 Global, Inc, together with its subsidiaries, engages in the provision of Internet services worldwide. It operates through two segments, Cloud Services and Digital Media. The Cloud Services segment offers cloud services to sole proprietors, small to medium-sized businesses and enterprises, and government organizations.

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