Stock analysts at Robert W. Baird started coverage on shares of j2 Global Inc. (NASDAQ:JCOM) in a research note issued to investors on Tuesday. The firm set an “outperform” rating and a $83.00 price target on the stock. Robert W. Baird’s price objective would indicate a potential upside of 21.86% from the company’s previous close.
Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of j2 Global from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Friday, August 5th. Citigroup Inc. reissued a “buy” rating and issued a $73.00 price target on shares of j2 Global in a research report on Wednesday, August 17th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $85.17.
In other news, VP Jeremy Rossen sold 1,014 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $67.01, for a total value of $67,948.14. Following the completion of the sale, the vice president now directly owns 24,708 shares of the company’s stock, valued at $1,655,683.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Steve P. Dunn sold 2,000 shares of the company’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $68.00, for a total transaction of $136,000.00. Following the completion of the sale, the chief accounting officer now directly owns 21,201 shares of the company’s stock, valued at $1,441,668. The disclosure for this sale can be found here.
Several large investors have made changes to their positions in the stock. Acrospire Investment Management LLC acquired a new stake in shares of j2 Global during the first quarter worth approximately $111,000. LS Investment Advisors LLC raised its position in shares of j2 Global by 73.7% in the second quarter. LS Investment Advisors LLC now owns 2,799 shares of the company’s stock worth $177,000 after buying an additional 1,188 shares during the period. Mount Lucas Management LP raised its position in shares of j2 Global by 10.7% in the first quarter. Mount Lucas Management LP now owns 3,747 shares of the company’s stock worth $231,000 after buying an additional 363 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of j2 Global during the second quarter worth about $253,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in shares of j2 Global by 1,957.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,124 shares of the company’s stock worth $316,000 after buying an additional 4,875 shares during the period.
j2 Global (NASDAQ:JCOM) traded up 0.46% during midday trading on Tuesday, hitting $68.11. The stock had a trading volume of 196,290 shares. j2 Global has a 12 month low of $55.43 and a 12 month high of $84.15. The stock has a 50 day moving average of $66.96 and a 200 day moving average of $65.41. The stock has a market cap of $3.27 billion and a price-to-earnings ratio of 24.51.
j2 Global (NASDAQ:JCOM) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $1.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.06. The firm had revenue of $211.80 million for the quarter, compared to analysts’ expectations of $206.41 million. During the same period last year, the firm posted $0.99 earnings per share. j2 Global’s revenue for the quarter was up 20.3% on a year-over-year basis. Analysts expect that j2 Global will post $4.92 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Wednesday, August 17th will be issued a $0.345 dividend. The ex-dividend date of this dividend is Monday, August 15th. This is a boost from j2 Global’s previous quarterly dividend of $0.34. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.03%.
j2 Global, Inc is a provider of services delivered through the Internet. The Company provides cloud services to businesses of all sizes, from individuals to enterprises. The Company operates in two segments: Business Cloud Services and Digital Media. The Company’s Digital Media business segment consists of the Web properties and business operations of Ziff Davis, Inc (Ziff Davis).