Ziff Davis (NASDAQ:ZD) Price Target Raised to $65.00

Ziff Davis (NASDAQ:ZD) had its price target hoisted by Royal Bank Of Canada from $48.00 to $65.00 in a research note published on Monday,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other research analysts have also weighed in on ZD. Evercore reissued an “outperform” rating and set a $64.00 price objective on shares of Ziff Davis in a report on Monday. Piper Sandler set a $48.00 price target on shares of Ziff Davis in a research report on Monday, May 11th. Barclays lifted their price target on Ziff Davis from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Citigroup boosted their price objective on Ziff Davis from $48.00 to $59.00 and gave the company a “neutral” rating in a report on Monday. Finally, Weiss Ratings upgraded Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $56.62.

Ziff Davis Stock Performance

Ziff Davis stock opened at $54.94 on Monday. The stock has a market cap of $1.88 billion, a P/E ratio of 3.11 and a beta of 1.08. The company has a current ratio of 2.16, a quick ratio of 1.66 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average of $50.76 and a 200-day moving average of $44.03. Ziff Davis has a 52 week low of $22.45 and a 52 week high of $58.06.

Ziff Davis (NASDAQ:ZD) last issued its quarterly earnings results on Thursday, August 6th. The technology company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.22. The business had revenue of $286.74 million during the quarter, compared to analyst estimates of $286.10 million. Ziff Davis had a net margin of 48.57% and a return on equity of 10.73%. The business’s revenue was down 18.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.24 earnings per share.

Insiders Place Their Bets

In other news, Director Kirk P. Mcdonald sold 1,075 shares of Ziff Davis stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $46.65, for a total value of $50,148.75. Following the completion of the transaction, the director directly owned 13,468 shares of the company’s stock, valued at approximately $628,282.20. The trade was a 7.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jeremy Rossen sold 3,819 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $54.93, for a total transaction of $209,777.67. Following the sale, the executive vice president directly owned 10,643 shares of the company’s stock, valued at approximately $584,619.99. This represents a 26.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 35,241 shares of company stock valued at $1,678,642. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Ziff Davis

A number of hedge funds and other institutional investors have recently bought and sold shares of ZD. Corsair Capital Management L.P. bought a new position in shares of Ziff Davis during the first quarter worth about $1,888,000. Aldebaran Capital LLC bought a new stake in Ziff Davis in the 1st quarter valued at about $1,728,000. Brave Asset Management Inc. lifted its position in Ziff Davis by 11.9% in the 1st quarter. Brave Asset Management Inc. now owns 470,282 shares of the technology company’s stock valued at $19,733,000 after purchasing an additional 50,127 shares during the last quarter. Incline Global Management LLC boosted its stake in Ziff Davis by 8.1% during the 4th quarter. Incline Global Management LLC now owns 401,933 shares of the technology company’s stock valued at $14,128,000 after purchasing an additional 30,212 shares during the period. Finally, NewGen Asset Management Ltd acquired a new position in Ziff Davis during the 1st quarter valued at about $2,203,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

About Ziff Davis

Ziff Davis, Inc is a digital media and internet company that operates a diverse portfolio of online brands, subscription-based services and performance marketing platforms. The company specializes in technology publishing and digital marketing solutions, offering content, reviews and insights tailored to consumer and enterprise audiences. Ziff Davis’s flagship media properties include PCMag, which provides expert reviews and comparisons of consumer electronics and software, as well as IGN, a leading destination for gaming news, reviews and entertainment coverage.

Founded in 1927 by William B.