Ziff Davis (NASDAQ:ZD) Stock Gets Price Target Trim from Citigroup

Ziff Davis (NASDAQ:ZD) had its target price reduced by Citigroup from $59.00 to $56.00 in a report issued on Wednesday morning,Benzinga reports. Citigroup currently has a neutral rating on the technology company’s stock.

Several other analysts also recently weighed in on ZD. Royal Bank Of Canada boosted their price objective on Ziff Davis from $48.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Susquehanna increased their price objective on Ziff Davis from $60.00 to $75.00 and gave the company a “positive” rating in a research note on Monday, August 10th. Weiss Ratings cut shares of Ziff Davis from a “hold (c+)” rating to a “hold (c-)” rating in a report on Monday. Yorkville Ives assumed coverage on shares of Ziff Davis in a report on Wednesday, October 7th. They issued an “outperform” rating and a $68.00 target price on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of Ziff Davis in a research note on Friday, September 11th. They issued a “neutral” rating and a $60.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $60.33.

Ziff Davis Stock Performance

Ziff Davis stock opened at $51.49 on Wednesday. The firm has a fifty day simple moving average of $55.83 and a two-hundred day simple moving average of $48.00. The company has a quick ratio of 2.16, a current ratio of 2.35 and a debt-to-equity ratio of 0.34. Ziff Davis has a twelve month low of $22.45 and a twelve month high of $60.48. The company has a market capitalization of $1.70 billion, a PE ratio of 3.04 and a beta of 1.10.

Ziff Davis (NASDAQ:ZD) last announced its quarterly earnings data on Thursday, November 5th. The technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.19. Ziff Davis had a return on equity of 9.10% and a net margin of 49.46%. The firm had revenue of $289.33 million for the quarter, compared to analysts’ expectations of $295.31 million. During the same period last year, the firm earned $1.76 earnings per share. The company’s revenue for the quarter was down 20.5% compared to the same quarter last year. Research analysts expect that Ziff Davis will post 4.41 EPS for the current year.

Insider Buying and Selling at Ziff Davis

In other Ziff Davis news, Director W. Brian Kretzmer sold 2,513 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $55.31, for a total value of $138,994.03. Following the sale, the director directly owned 20,000 shares of the company’s stock, valued at approximately $1,106,200. The trade was a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vivek Shah sold 2,650 shares of the stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $50.67, for a total value of $134,275.50. Following the completion of the sale, the chief executive officer directly owned 357,632 shares in the company, valued at approximately $18,121,213.44. This represents a 0.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Ziff Davis

A number of hedge funds have recently bought and sold shares of the company. Marshall Wace LLP grew its position in Ziff Davis by 6.0% during the 3rd quarter. Marshall Wace LLP now owns 26,638 shares of the technology company’s stock valued at $1,510,000 after purchasing an additional 1,512 shares during the last quarter. Empowered Funds LLC raised its holdings in Ziff Davis by 25.1% in the third quarter. Empowered Funds LLC now owns 201,185 shares of the technology company’s stock worth $11,405,000 after buying an additional 40,362 shares during the last quarter. Private Advisor Group LLC purchased a new position in Ziff Davis in the third quarter worth about $1,657,000. Public Sector Pension Investment Board lifted its stake in shares of Ziff Davis by 29.0% in the third quarter. Public Sector Pension Investment Board now owns 163,237 shares of the technology company’s stock worth $9,481,000 after buying an additional 36,724 shares in the last quarter. Finally, Royce & Associates LP lifted its stake in shares of Ziff Davis by 2.2% in the third quarter. Royce & Associates LP now owns 50,025 shares of the technology company’s stock worth $2,836,000 after buying an additional 1,088 shares in the last quarter. Institutional investors own 99.76% of the company’s stock.

Ziff Davis Company Profile

Ziff Davis, Inc. is a digital media and internet company that operates a portfolio of websites, apps and online services. Its brands cover technology and shopping, gaming and entertainment, health and wellness, connectivity, and cybersecurity and marketing technology. They include PCMag, IGN, Mashable, Everyday Health and Ookla, whose services include Speedtest and Downdetector. The company serves consumers and businesses in the United States and international markets. Its activities include publishing editorial content, providing internet and software services, and offering digital advertising and marketing solutions.