Zedge (NYSEAMERICAN:ZDGE) Stock Rating Upgraded by Zacks Research

Zedge (NYSEAMERICAN:ZDGE) was upgraded by stock analysts at Zacks Research to a “hold” rating in a report released on Monday,Zacks.com reports.

Zedge Stock Performance

ZDGE stock opened at $3.01 on Monday. Zedge has a one year low of $2.21 and a one year high of $4.89. The firm has a market cap of $37.75 million, a price-to-earnings ratio of -33.44 and a beta of 1.26. The firm has a 50-day simple moving average of $3.10 and a two-hundred day simple moving average of $3.12.

Zedge (NYSEAMERICAN:ZDGE) last issued its quarterly earnings data on Thursday, June 11th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. Zedge had a negative net margin of 3.62% and a positive return on equity of 11.18%. The firm had revenue of $7.99 million for the quarter, compared to the consensus estimate of $7.00 million. As a group, equities analysts predict that Zedge will post 0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC raised its stake in Zedge by 2,923.0% in the first quarter. NewEdge Advisors LLC now owns 58,918 shares of the company’s stock valued at $173,000 after buying an additional 56,969 shares during the last quarter. Hillsdale Investment Management Inc. boosted its holdings in Zedge by 1,982.8% in the first quarter. Hillsdale Investment Management Inc. now owns 50,653 shares of the company’s stock worth $148,000 after acquiring an additional 48,221 shares in the last quarter. HRT Financial LP purchased a new stake in shares of Zedge during the fourth quarter worth about $158,000. Goldman Sachs Group Inc. grew its stake in shares of Zedge by 35.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 42,029 shares of the company’s stock worth $138,000 after acquiring an additional 11,022 shares during the last quarter. Finally, Bailard Inc. increased its holdings in shares of Zedge by 51.1% during the fourth quarter. Bailard Inc. now owns 60,100 shares of the company’s stock valued at $197,000 after acquiring an additional 20,337 shares in the last quarter. 29.37% of the stock is owned by institutional investors and hedge funds.

More Zedge News

Here are the key news stories impacting Zedge this week:

• Positive Sentiment: Maxim Group’s forecast implies Zedge could remain profitable over the next several years, with EPS estimates of $0.31 for FY2026, $0.27 for FY2027, and $0.28 for FY2028.
• Neutral Sentiment: The firm also outlined quarterly estimates for 2027 and 2028, suggesting relatively steady but not rapidly accelerating earnings expectations.
• Negative Sentiment: The analyst updates did not raise estimates or signal an upside surprise, which may have disappointed investors looking for stronger growth momentum in Zedge’s earnings outlook.

About Zedge

Zedge, Inc (NYSE American: ZDGE) is a digital media and technology company that operates a mobile personalization platform. Through its flagship Zedge app and website, the company provides consumers with a wide range of downloadable digital content, including wallpapers, ringtones, notification sounds, app icons and lock screens. The platform accommodates both free and premium content, enabling users to customize their smartphones and tablets according to personal taste.

The company’s platform features content created by independent designers and established media brands, and it supports multiple languages and regional preferences.