Web.com sell-off seems overdone, says JPMorgan JPMorgan says the 20% sell-off today in shares of Web.com (WWWW) looks overdone as Google (GOOG) is only launching a beta domain registry website at this time. The firm said earlier it viewed Google's new website as headline risk for the stock. JPMorgan has an Overweight rating on Web.com.
Web.com price target raised to $32 from $25 at Piper Jaffray Piper Jaffray analyst Gene Munster raised his price target for Web.com to $32 citing confidence in the company's turnaround and eventual return to growth. Munster believes Web.com's turnaround is on plan and expects guidance for the next two quarters to meet consensus estimates. He reiterates an Overweight rating on the stock.