JPMorgan Chase & Co. Lowers Ziff Davis (NASDAQ:ZD) Price Target to $60.00

Ziff Davis (NASDAQ:ZD) had its price target decreased by research analysts at JPMorgan Chase & Co. from $70.00 to $60.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 33.93% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Barclays lifted their price target on shares of Ziff Davis from $44.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Citigroup decreased their price objective on Ziff Davis from $58.00 to $52.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, UBS Group cut their target price on Ziff Davis from $76.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.17.

Ziff Davis Price Performance

Shares of ZD traded down $2.70 during trading hours on Wednesday, hitting $44.80. The stock had a trading volume of 272,370 shares, compared to its average volume of 327,044. Ziff Davis has a 52 week low of $37.76 and a 52 week high of $70.02. The company’s fifty day moving average is $53.54 and its two-hundred day moving average is $51.40. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 38.01 and a beta of 1.36.

Institutional Trading of Ziff Davis

Institutional investors and hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its stake in shares of Ziff Davis by 69.8% in the third quarter. Victory Capital Management Inc. now owns 53,905 shares of the technology company’s stock valued at $2,623,000 after buying an additional 22,155 shares during the period. Franklin Resources Inc. acquired a new stake in shares of Ziff Davis during the 3rd quarter worth approximately $986,000. Virtu Financial LLC bought a new stake in shares of Ziff Davis during the third quarter worth about $503,000. Empowered Funds LLC purchased a new stake in shares of Ziff Davis during the third quarter valued at approximately $7,210,000. Finally, Rice Hall James & Associates LLC increased its position in Ziff Davis by 11.0% in the third quarter. Rice Hall James & Associates LLC now owns 501,313 shares of the technology company’s stock worth $24,394,000 after buying an additional 49,510 shares during the last quarter. Institutional investors own 99.76% of the company’s stock.

Ziff Davis Company Profile

Ziff Davis, Inc, together with its subsidiaries, operates as a digital media and internet company in the United States and internationally. The company offers PCMag, an online resource for laboratory-based product reviews, technology news, buying guides, and research papers; Mashable for publishing technology and culture content; Spiceworks Ziff Davis provides digital content of IT products and services; retailMeNot, a savings destination platform; Offers.com, a coupon and deals website; and event-based properties, including BlackFriday.com, TheBlackFriday.com, BestBlackFriday.com, and DealsofAmerica.com.