Oppenheimer Maintains a Hold Rating on Endurance International (EIGI)


Oppenheimer analyst Jason Helfstein maintained a Hold rating on Endurance International (EIGI) yesterday. The company’s shares closed yesterday at $9.53.

Helfstein observed:

“We are changing our rating to and removing our $10 target, as the stock has reached our target price and we are unable to raise estimates or the target multiple. While the stock has rallied from the $8 level several times this year, we see investors waiting for signs of revenue growth. New mgmt appears to be rationalizing EIGI’s portfolio of assets; however, 3Q adjusted EBITDA declined 7% y/y on lower revenue and higher engineering expenses, partially offset by lower S&M and G&A. We expect modest acceleration of engineering and development costs throughout ’19E with flat revenue. We estimate 2019E EBITDA -6% y/y, with FCF/ share -5% y/y, which would limit the FCF/share valuation to low teens vs. current ~11.5x.”

According to TipRanks.com, Helfstein is a top 100 analyst with an average return of 15.7% and a 59.6% success rate. Helfstein covers the Technology sector, focusing on stocks such as ANGI Homeservices Inc, IAC/InterActiveCorp, and Match Group Inc.

Currently, the analyst consensus on Endurance International is a Moderate Buy with an average price target of $9.50, representing a -0.3% downside. In a report issued on October 25, SunTrust Robinson also maintained a Hold rating on the stock with a $8 price target.

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Based on Endurance International’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $6.34 million. In comparison, last year the company had a GAAP net loss of $40.26 million.

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Endurance International Group Holdings, Inc. engages in the provision of cloud-based platform solutions to help small and medium sized businesses online. It operates through the following segments: Web Presence, Domain, and Email Marketing.

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