Endurance International Group (EIGI) Cut to “Market Perform” at Oppenheimer

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Oppenheimer cut shares of Endurance International Group (NASDAQ:EIGI) from an outperform rating to a market perform rating in a report issued on Wednesday, MarketBeat.com reports. Oppenheimer also issued estimates for Endurance International Group’s Q4 2018 earnings at ($0.05) EPS, FY2018 earnings at ($0.13) EPS and FY2019 earnings at ($0.06) EPS.

Several other brokerages have also recently issued reports on EIGI. TheStreet upgraded shares of Endurance International Group from a d+ rating to a c rating in a research report on Friday, July 27th. BidaskClub upgraded shares of Endurance International Group from a sell rating to a hold rating in a research report on Tuesday, October 16th. ValuEngine raised shares of Endurance International Group from a hold rating to a buy rating in a research note on Saturday, October 27th. Credit Suisse Group boosted their price objective on shares of Endurance International Group from $10.00 to $11.00 and gave the stock an outperform rating in a research note on Friday, October 26th. Finally, SunTrust Banks reissued a hold rating and set a $8.00 price objective on shares of Endurance International Group in a research note on Thursday, July 26th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $9.21.

Shares of NASDAQ EIGI traded up $0.14 during midday trading on Wednesday, hitting $8.64. 468,982 shares of the company traded hands, compared to its average volume of 621,803. Endurance International Group has a 12-month low of $6.95 and a 12-month high of $10.95. The company has a debt-to-equity ratio of 11.46, a current ratio of 0.44 and a quick ratio of 0.41. The stock has a market capitalization of $1.26 billion, a P/E ratio of -11.08 and a beta of 1.39.

Endurance International Group (NASDAQ:EIGI) last announced its quarterly earnings results on Thursday, October 25th. The software maker reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. Endurance International Group had a negative net margin of 0.68% and a negative return on equity of 5.96%. The company had revenue of $283.77 million for the quarter, compared to analysts’ expectations of $284.53 million. Research analysts anticipate that Endurance International Group will post -0.1 earnings per share for the current year.

In other news, insider Barry Christine Timmins sold 22,863 shares of the company’s stock in a transaction that occurred on Wednesday, October 17th. The shares were sold at an average price of $8.83, for a total value of $201,880.29. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Marc Montagner sold 9,424 shares of the company’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $9.20, for a total transaction of $86,700.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,608 shares of company stock worth $291,348. Insiders own 58.20% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in shares of Endurance International Group in the first quarter worth approximately $105,000. Amalgamated Bank bought a new position in shares of Endurance International Group in the second quarter worth approximately $108,000. Verition Fund Management LLC bought a new position in shares of Endurance International Group in the second quarter worth approximately $134,000. Barclays PLC lifted its stake in shares of Endurance International Group by 65.0% in the first quarter. Barclays PLC now owns 18,996 shares of the software maker’s stock worth $140,000 after buying an additional 7,485 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Endurance International Group by 44.1% in the first quarter. Cubist Systematic Strategies LLC now owns 20,361 shares of the software maker’s stock worth $151,000 after buying an additional 6,227 shares in the last quarter. Hedge funds and other institutional investors own 91.63% of the company’s stock.

Endurance International Group Company Profile

Endurance International Group Holdings, Inc, together with its subsidiaries, provides cloud-based platform solutions for small-and medium-sized businesses worldwide. The company operates in three segments: Web Presence, Domain, and Email Marketing. It offers Web hosting services, including entry-level shared hosting, and virtual private server and dedicated hosting solutions; Website building tools that enable subscribers with varying degrees of technical sophistication to create a Web presence; domain registration, management, and resale services; malware protection solutions to protect subscribers' Websites from viruses, malicious code, and other threats; and backup control solutions that enable subscribers to schedule, maintain, manage, and restore backups of their online data and Websites.

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