Breaking Finance News

TRADE ALERT- Web.com a Buy According to B. Riley (WWWW)

After reporting higher than expected EPS in its latest earning statement, B. Riley raised its price target on Web.com (NASDAQ: WWWW) from $30 to $36 on Tuesday.

In the past six months the stock is up 76 percent to $29.22. After a recent consolidation that led to a selloff of 10 percent, the stock has moved to a new 52 week high of $29.48. Profit taking seems to be taking place as the stock is down more than 2 percent in pre-market trading Tuesday. It sits well above its 50 day moving average of $24.54.

The $1.4 billion company trades an average of 506,000 shares per day. Web.com Group, Inc. provides Internet services for small to medium-sized businesses in North America, South America, and the United Kingdom.

[stock-tools exchange="NASDAQ" symbol="WWWW" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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