Market Overview

Wedbush Securities Remains Positive On J2 Global Following Management Meetings

Share:

In a report published Thursday, Wedbush Securities analyst Shyam Patil reiterated an Outperform rating and $75.00 price target on J2 Global Inc. (NASDAQ: JCOM).

In the report, Wedbush Securities noted, "Recall that j2 is attempting to acquire Carbonite and has entered into a due diligence process with the company. Carbonite is still evaluating its options, which include selling or remaining independent. j2 currently owns slightly less than 10% of the stock. We did not receive any incremental color on the process, but it does sound like a decision could be made by the end of April. As we have stated before, we believe this transaction would be highly accretive for j2 and likely the best outcome for Carbonite. We would note that while j2's cloud backup revenue is about half the size of Carbonite's, its margins are 4x higher."

J2 Global closed on Wednesday at $66.65.

Latest Ratings for JCOM

DateFirmActionFromTo
Apr 2020BarclaysInitiates Coverage OnEqual-Weight
Mar 2020RBC CapitalInitiates Coverage OnSector Perform
Feb 2020CitigroupMaintainsNeutral

View More Analyst Ratings for JCOM
View the Latest Analyst Ratings

 

Related Articles (JCOM)

View Comments and Join the Discussion!

Posted-In: Shyam Patil Wedbush SecuritiesAnalyst Color Reiteration Analyst Ratings

Latest Ratings

StockFirmActionPT
HUBGStephens & Co.Maintains52.0
LTCMizuhoMaintains30.0
HBANCFRAMaintains9.0
NSMizuhoMaintains14.0
HEIBairdMaintains132.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com