Ziff Davis (NASDAQ:ZD) Stock Rating Upgraded by Zacks Research

Ziff Davis (NASDAQ:ZD) was upgraded by analysts at Zacks Research to a “hold” rating in a report released on Tuesday, Zacks reports.

Several other equities research analysts have also recently weighed in on ZD. Evercore reaffirmed an “outperform” rating and issued a $64.00 price target on shares of Ziff Davis in a research report on Monday, August 10th. Royal Bank Of Canada lifted their price objective on shares of Ziff Davis from $48.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, August 10th. 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 price objective for the company. Citigroup upped their target price on Ziff Davis from $48.00 to $59.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Finally, Weiss Ratings raised Ziff Davis from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $59.75.

Ziff Davis Stock Performance

Shares of Ziff Davis stock opened at $58.75 on Tuesday. The firm has a market cap of $2.01 billion, a P/E ratio of 3.32 and a beta of 1.09. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.32. Ziff Davis has a 12 month low of $22.45 and a 12 month high of $60.11. The stock’s fifty day moving average price is $54.49 and its 200-day moving average price is $48.05.

Ziff Davis (NASDAQ:ZD) last released its quarterly earnings data on Thursday, August 6th. The technology company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.22. Ziff Davis had a net margin of 48.57% and a return on equity of 10.73%. The company had revenue of $286.74 million during the quarter, compared to analyst estimates of $286.10 million. During the same period in the prior year, the firm earned $1.24 earnings per share. The firm’s revenue for the quarter was down 18.7% compared to the same quarter last year. On average, equities research analysts expect that Ziff Davis will post 4.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ziff Davis news, Director W. Brian Kretzmer sold 2,513 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $55.31, for a total transaction of $138,994.03. Following the completion of the sale, the director directly owned 20,000 shares of the company’s stock, valued at approximately $1,106,200. This represents a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Lori Tansley sold 1,400 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $54.76, for a total transaction of $76,664.00. Following the completion of the sale, the chief accounting officer owned 767 shares in the company, valued at $42,000.92. This represents a 64.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 7,732 shares of company stock worth $425,436. 3.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ziff Davis

Several institutional investors have recently bought and sold shares of ZD. Jupiter Topco LLC acquired a new position in Ziff Davis during the 2nd quarter valued at about $187,893,000. Legal & General Group Plc acquired a new stake in Ziff Davis in the second quarter worth about $94,314,000. Pale Fire Capital SE boosted its holdings in Ziff Davis by 130.0% in the first quarter. Pale Fire Capital SE now owns 2,783,366 shares of the technology company’s stock worth $116,790,000 after acquiring an additional 1,573,414 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Ziff Davis by 689.6% during the first quarter. First Trust Advisors LP now owns 974,591 shares of the technology company’s stock worth $40,894,000 after acquiring an additional 851,163 shares during the last quarter. Finally, Rice Hall James & Associates LLC purchased a new stake in shares of Ziff Davis during the second quarter worth about $43,022,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Ziff Davis Company Profile

Ziff Davis, Inc is a digital media and technology company that operates a portfolio of internet-based brands serving consumers and businesses. Its properties provide technology news and reviews, gaming and entertainment content, health and wellness information, shopping resources, and specialized business media.

The company’s brands include PCMag, IGN, Mashable, Lifehacker, RetailMeNot, Humble Bundle, Spiceworks, Ookla and Speedtest, among others. Ziff Davis also offers cybersecurity, marketing technology and consumer subscription services, including products and platforms designed to support privacy, online security, connectivity testing and digital engagement.

Ziff Davis traces its roots to the publishing company founded by William B.