Analyst reiterates fresh TLD forecast and price target for Rightside

Following Rightside investor day, analyst states forecast is on target.

B. Riley & Co analyst Sameet Sinha has reiterated his forecast for fresh top level domain names and his $15 price target for Rightside. Rightside (NASDAQ: NAME) is right now trading for $8.29.

Sinha forecasts that 29.1 million registrations will be made under fresh to level domain names by the end of 2016. Based on 3.4 million domains registered to date, he believes his forecast of 3.6 million by the end of this year is on target.

As for Rightside, Sinha set the price target by applying a 1.25x multiple on his 2015 revenue forecast. He believes Rightside is well positioned thanks to its vertically-integrated business. Name.com, Rightside’s retail operations, has averaged regarding 10% of sales so far, he noted.

Sinha is the only analyst I’m aware of covering fresh TLDs and Rightside.