Zacks Investment Research upgraded shares of J2 Global Inc (NASDAQ:JCOM) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning, MarketBeat.com reports. They currently have $82.00 price target on the stock.

According to Zacks, “j2 Global reported solid third-quarter 2015 financial results wherein both the top and the bottom line surpassed the respective Zacks Consensus Estimate. Moreover, the company also raised its dividend for the seventeenth consecutive quarter since 2011. j2 Global’s successful diversification into cloud business and initiation of the intellectual property program will act as strong positives for the company, moving ahead. The company stated that it has completed 24 acquisitions in 2015.”

A number of other equities analysts have also recently issued reports on JCOM. FBR & Co. upped their price target on shares of J2 Global from $77.00 to $82.00 and gave the stock a market perform rating in a research note on Wednesday, November 4th. Susquehanna upped their price target on shares of J2 Global from $85.00 to $95.00 and gave the stock a positive rating in a research note on Wednesday, November 4th. Finally, JMP Securities initiated coverage on shares of J2 Global in a research note on Friday, December 18th. They issued an outperform rating and a $100.00 price target on the stock. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. J2 Global currently has a consensus rating of Buy and an average price target of $80.57.

Shares of J2 Global (NASDAQ:JCOM) traded up 3.69% during trading on Tuesday, hitting $72.51. 449,853 shares of the stock traded hands. The stock has a 50-day moving average of $76.85 and a 200 day moving average of $74.41. J2 Global has a 1-year low of $56.50 and a 1-year high of $84.15. The company has a market cap of $3.52 billion and a P/E ratio of 27.16.

J2 Global (NASDAQ:JCOM) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.03. During the same quarter in the previous year, the firm earned $0.83 EPS. The firm earned $178.70 million during the quarter, compared to the consensus estimate of $178.28 million. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, equities research analysts predict that J2 Global will post $4.06 EPS for the current fiscal year.

In other news, Director W Brian Kretzmer sold 6,600 shares of the company’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $78.88, for a total transaction of $520,608.00. Following the completion of the sale, the director now owns 10,156 shares of the company’s stock, valued at approximately $801,105.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nehemia Zucker sold 6,663 shares of the company’s stock in a transaction dated Wednesday, November 18th. The shares were sold at an average price of $81.00, for a total transaction of $539,703.00. Following the sale, the chief executive officer now directly owns 152,726 shares of the company’s stock, valued at approximately $12,370,806. The disclosure for this sale can be found here.

Other large investors have added to or reduced their stakes in the company. Eagle Asset Management raised its stake in J2 Global by 903.6% in the third quarter. Eagle Asset Management now owns 556,366 shares of the company’s stock valued at $39,418,000 after buying an additional 500,928 shares during the last quarter. Nationwide Fund Advisors raised its stake in J2 Global by 229.6% in the fourth quarter. Nationwide Fund Advisors now owns 437,979 shares of the company’s stock valued at $36,054,000 after buying an additional 305,082 shares during the last quarter. Boston Advisors raised its stake in J2 Global by 115.9% in the fourth quarter. Boston Advisors now owns 259,098 shares of the company’s stock valued at $21,329,000 after buying an additional 139,078 shares during the last quarter. Retirement Systems of Alabama acquired a new stake in J2 Global during the fourth quarter valued at approximately $4,876,000. Finally, Rice Hall James & Associates LLC raised its stake in J2 Global by 74.9% in the fourth quarter. Rice Hall James & Associates LLC now owns 123,634 shares of the company’s stock valued at $10,178,000 after buying an additional 52,965 shares during the last quarter.

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. (NASDAQ:JCOM). The Company’s cloud services and solutions include fax, voice and unified communications, email and customer relationship management, online backup, global network and operations, and customer support services. In February 2013, it acquired IGN Entertainment, Inc. On November 9, 2012, the Company acquired Ziff Davis. Effective March 18, 2013, it acquired MetroFax Inc. In April 2013, the Company acquired Backup Connect BV.

12 Month Chart for NASDAQ:JCOM

Get a free copy of the Zacks research report on J2 Global (JCOM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for J2 Global Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J2 Global Inc and related companies with MarketBeat.com's FREE daily email newsletter.