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

Endurance International Group (NASDAQ:EIGI) was downgraded by stock analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings 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.

EIGI has been the topic of a number of other reports. ValuEngine raised shares of Endurance International Group from a “hold” rating to a “buy” rating in a research report on Friday, August 17th. BidaskClub lowered shares of Endurance International Group from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Zacks Investment Research raised shares of Endurance International Group from a “strong sell” rating to a “hold” rating in a research report on Monday, October 1st. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $8.00 target price on shares of Endurance International Group in a research report on Thursday, October 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $9.21.

Endurance International Group stock traded up $0.04 during midday trading on Wednesday, reaching $8.54. The stock had a trading volume of 212,104 shares, compared to its average volume of 606,176. The company has a debt-to-equity ratio of 11.46, a current ratio of 0.44 and a quick ratio of 0.41. Endurance International Group has a 52-week low of $6.95 and a 52-week high of $10.95. The firm has a market capitalization of $1.37 billion, a P/E ratio of -10.94 and a beta of 1.39.

Endurance International Group (NASDAQ:EIGI) last posted its quarterly earnings data on Thursday, October 25th. The software maker reported ($0.04) earnings per share for the quarter, topping the Zacks’ 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 analyst estimates of $284.53 million. Research analysts anticipate that Endurance International Group will post -0.11 earnings per share for the current fiscal year.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EIGI. Dimensional Fund Advisors LP boosted its stake in shares of Endurance International Group by 28.8% during the first quarter. Dimensional Fund Advisors LP now owns 920,534 shares of the software maker’s stock valued at $6,812,000 after purchasing an additional 206,046 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Endurance International Group during the first quarter valued at approximately $105,000. UBS Group AG boosted its stake in shares of Endurance International Group by 30.9% during the first quarter. UBS Group AG now owns 67,737 shares of the software maker’s stock valued at $501,000 after purchasing an additional 16,008 shares in the last quarter. Barclays PLC boosted its stake in shares of Endurance International Group by 65.0% during the first quarter. Barclays PLC now owns 18,996 shares of the software maker’s stock valued at $140,000 after purchasing an additional 7,485 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Endurance International Group by 44.1% during the first quarter. Cubist Systematic Strategies LLC now owns 20,361 shares of the software maker’s stock valued at $151,000 after purchasing 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.

Further Reading: Hedge Funds Explained

Analyst Recommendations for Endurance International Group (NASDAQ:EIGI)

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