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Fly News Breaks for August 19, 2015
WWWW
Aug 19, 2015 | 05:40 EDT
Piper Jaffray analyst Gene Munster estimates the cyber breach disclosed last night by Web.com to cost in total about $200,000-$400,000, which would decrease the company's earnings by about 1%. The impact to revenue should be small with consumers "growing more numb" to breaches, Munster tells investors in a research note. His says his confidence in Web.com's business model and position as Piper's top small cap pick remain unchanged. Munster lowered his price target for shares to $31 from $32 and keeps an Overweight rating on the name.
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