Zedge (NYSEAMERICAN:ZDGE) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Zedge (NYSEAMERICAN:ZDGE) announced its quarterly earnings data on Wednesday. The company reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.09, Fidelity Earnings reports. Zedge had a net margin of 25.25% and a return on equity of 31.26%.

Shares of ZDGE stock opened at $15.35 on Friday. Zedge has a 12 month low of $1.10 and a 12 month high of $16.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.65 and a quick ratio of 4.65. The firm has a market cap of $199.66 million, a price-to-earnings ratio of 59.04 and a beta of 0.99. The business has a fifty day moving average price of $4.24.

In other news, CFO Yi Tsai sold 10,000 shares of the company’s stock in a transaction dated Monday, March 22nd. The shares were sold at an average price of $15.35, for a total value of $153,500.00. Following the sale, the chief financial officer now owns 10,000 shares in the company, valued at approximately $153,500. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 23.60% of the company’s stock.

A hedge fund recently raised its stake in Zedge stock. Morgan Stanley lifted its holdings in shares of Zedge, Inc. (NYSEAMERICAN:ZDGE) by 936.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,555 shares of the company’s stock after buying an additional 14,958 shares during the period. Morgan Stanley owned 0.13% of Zedge worth $200,000 at the end of the most recent reporting period. Institutional investors own 25.51% of the company’s stock.

Several brokerages have recently issued reports on ZDGE. Maxim Group boosted their price objective on shares of Zedge from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, March 16th. TheStreet upgraded shares of Zedge from a “c+” rating to a “b-” rating in a report on Thursday, March 18th.

About Zedge

Zedge, Inc operates a digital publishing and content platform worldwide. Its platform enables consumers to personalize their mobile devices with ringtones, wallpapers, home screen app icons, widgets, and notification sounds. The company was incorporated in 2008 and is based in New York, New York.

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Earnings History for Zedge (NYSEAMERICAN:ZDGE)

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