Ziff Davis (NASDAQ:ZD) Issues FY24 Earnings Guidance

Ziff Davis (NASDAQ:ZD) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $6.43-6.77 for the period, compared to the consensus EPS estimate of $6.54. The company issued revenue guidance of $1.411-1.471 billion, compared to the consensus revenue estimate of $1.42 billion. Ziff Davis also updated its FY 2024 guidance to 6.430-6.770 EPS.

Ziff Davis Price Performance

Shares of NASDAQ:ZD traded up $0.24 during midday trading on Wednesday, hitting $39.88. The company had a trading volume of 571,444 shares, compared to its average volume of 355,103. Ziff Davis has a twelve month low of $38.90 and a twelve month high of $70.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 33.04 and a beta of 1.29. The business’s 50-day simple moving average is $52.03 and its 200-day simple moving average is $57.90.

Ziff Davis (NASDAQ:ZD) last posted its earnings results on Wednesday, May 8th. The technology company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.05. The company had revenue of $314.49 million during the quarter, compared to analysts’ expectations of $317.71 million. Ziff Davis had a return on equity of 14.26% and a net margin of 4.36%. On average, research analysts predict that Ziff Davis will post 6.09 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Wedbush decreased their target price on Ziff Davis from $78.00 to $70.00 and set an outperform rating for the company in a report on Friday, May 10th. Citigroup decreased their target price on Ziff Davis from $62.00 to $52.00 and set a neutral rating for the company in a report on Thursday, July 11th. JPMorgan Chase & Co. upgraded Ziff Davis from a neutral rating to an overweight rating and set a $70.00 target price for the company in a report on Thursday, May 2nd. Finally, Barclays decreased their target price on Ziff Davis from $68.00 to $58.00 and set an equal weight rating for the company in a report on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Ziff Davis presently has a consensus rating of Moderate Buy and a consensus target price of $73.88.

About Ziff Davis

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.