Brokerages Set Ziff Davis, Inc. (NASDAQ:ZD) PT at $47.25

Shares of Ziff Davis, Inc. (NASDAQ:ZD) have been assigned a consensus recommendation of “Hold” from the nine brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $47.25.

A number of analysts have issued reports on ZD shares. Weiss Ratings raised Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 1st. Susquehanna upped their price target on Ziff Davis from $45.00 to $60.00 and gave the company a “positive” rating in a research report on Tuesday, May 5th. Barclays increased 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. Piper Sandler set a $48.00 price objective on Ziff Davis in a report on Monday, May 11th. Finally, Evercore restated an “outperform” rating and issued a $61.00 price objective on shares of Ziff Davis in a research note on Tuesday, May 12th.

Ziff Davis Stock Down 0.8%

ZD opened at $51.81 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.42. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 45.85 and a beta of 1.08. Ziff Davis has a twelve month low of $22.45 and a twelve month high of $54.97. The company’s 50-day moving average price is $48.06 and its two-hundred day moving average price is $42.38.

Ziff Davis (NASDAQ:ZD) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. The company had revenue of $267.64 million during the quarter, compared to analyst estimates of $264.32 million. Ziff Davis had a net margin of 3.26% and a return on equity of 12.17%. Ziff Davis’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 EPS.

Insider Buying and Selling

In related news, Director Kirk P. Mcdonald sold 1,075 shares of Ziff Davis stock in a transaction that occurred on 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 in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Bret Richter sold 18,000 shares of Ziff Davis stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $46.88, for a total value of $843,840.00. Following the completion of the transaction, the chief financial officer owned 29,244 shares of the company’s stock, valued at approximately $1,370,958.72. This trade represents a 38.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 31,422 shares of company stock valued at $1,468,864. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Ziff Davis

Several hedge funds have recently bought and sold shares of ZD. Wedge Capital Management L L P NC raised its position in Ziff Davis by 18.6% during the second quarter. Wedge Capital Management L L P NC now owns 68,887 shares of the technology company’s stock valued at $3,608,000 after purchasing an additional 10,828 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Ziff Davis by 71.7% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 8,334 shares of the technology company’s stock valued at $436,000 after buying an additional 3,479 shares during the last quarter. Affinity Capital Advisors LLC purchased a new stake in shares of Ziff Davis during the second quarter worth about $230,000. Pacer Advisors Inc. lifted its holdings in Ziff Davis by 0.3% in the 1st quarter. Pacer Advisors Inc. now owns 288,785 shares of the technology company’s stock worth $12,117,000 after buying an additional 921 shares during the period. Finally, Edgestream Partners L.P. bought a new stake in Ziff Davis in the first quarter valued at $3,489,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

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.