Ziff Davis (NASDAQ:ZD) Upgraded to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Ziff Davis (NASDAQ:ZD) from a neutral rating to an overweight rating in a report issued on Thursday morning, MarketBeat.com reports. They currently have $70.00 price objective on the technology company’s stock.

A number of other research firms have also commented on ZD. Royal Bank of Canada reaffirmed an outperform rating and set a $95.00 price objective on shares of Ziff Davis in a research note on Friday, February 23rd. UBS Group decreased their price target on shares of Ziff Davis from $77.00 to $76.00 and set a neutral rating on the stock in a research note on Tuesday, March 5th. Wedbush boosted their price objective on shares of Ziff Davis from $75.00 to $78.00 and gave the company an outperform rating in a research report on Friday, February 23rd. Barclays upped their price objective on shares of Ziff Davis from $66.00 to $68.00 and gave the company an equal weight rating in a research note on Friday, February 23rd. Finally, Evercore ISI lifted their target price on shares of Ziff Davis from $75.00 to $80.00 and gave the stock an outperform rating in a research note on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $79.57.

Ziff Davis Stock Performance

NASDAQ:ZD opened at $53.88 on Thursday. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $2.49 billion, a P/E ratio of 65.71 and a beta of 1.24. The firm has a 50-day moving average price of $59.72 and a two-hundred day moving average price of $63.24. Ziff Davis has a twelve month low of $49.50 and a twelve month high of $75.58.

Ziff Davis (NASDAQ:ZD) last issued its quarterly earnings data on Wednesday, February 21st. The technology company reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.02. Ziff Davis had a net margin of 3.04% and a return on equity of 13.97%. The business had revenue of $389.89 million during the quarter, compared to analysts’ expectations of $400.71 million. As a group, research analysts expect that Ziff Davis will post 6.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ziff Davis news, EVP Jeremy Rossen sold 4,162 shares of Ziff Davis stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $69.43, for a total value of $288,967.66. Following the transaction, the executive vice president now owns 7,261 shares in the company, valued at approximately $504,131.23. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.08% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Ziff Davis by 8.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,693,227 shares of the technology company’s stock worth $113,771,000 after acquiring an additional 136,220 shares during the last quarter. Legal & General Group Plc raised its holdings in Ziff Davis by 11.3% in the third quarter. Legal & General Group Plc now owns 1,575,994 shares of the technology company’s stock valued at $100,375,000 after buying an additional 159,839 shares during the period. CDAM UK Ltd lifted its position in Ziff Davis by 26.5% during the fourth quarter. CDAM UK Ltd now owns 1,181,995 shares of the technology company’s stock valued at $79,418,000 after buying an additional 247,375 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Ziff Davis by 4.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 681,835 shares of the technology company’s stock worth $43,426,000 after buying an additional 26,219 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Ziff Davis by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 575,688 shares of the technology company’s stock valued at $38,680,000 after acquiring an additional 21,501 shares during the period. Institutional investors and hedge funds 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.