Ziff Davis (NASDAQ:ZD) Sets New 1-Year Low After Earnings Miss

Ziff Davis, Inc. (NASDAQ:ZD) shares reached a new 52-week low during trading on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $22.45 and last traded at $26.18, with a volume of 645657 shares changing hands. The stock had previously closed at $29.55.

The technology company reported $2.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.15). Ziff Davis had a return on equity of 13.73% and a net margin of 7.62%.The business had revenue of $406.71 million for the quarter, compared to analyst estimates of $416.63 million. During the same period in the prior year, the company posted $2.58 earnings per share. The company’s revenue was down 1.5% compared to the same quarter last year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. UBS Group dropped their price objective on Ziff Davis from $40.00 to $38.00 and set a “neutral” rating on the stock in a report on Monday, November 10th. Zacks Research upgraded Ziff Davis from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ziff Davis in a research note on Wednesday, January 21st. Barclays cut their price target on shares of Ziff Davis from $40.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, November 10th. Finally, Citigroup decreased their price objective on shares of Ziff Davis from $42.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, November 10th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $37.50.

Hedge Funds Weigh In On Ziff Davis

Several large investors have recently bought and sold shares of ZD. Federated Hermes Inc. acquired a new stake in Ziff Davis in the 4th quarter valued at $25,000. Allworth Financial LP increased its stake in Ziff Davis by 149.8% in the second quarter. Allworth Financial LP now owns 1,029 shares of the technology company’s stock valued at $31,000 after purchasing an additional 617 shares in the last quarter. NBC Securities Inc. grew its stake in Ziff Davis by 121.3% in the fourth quarter. NBC Securities Inc. now owns 885 shares of the technology company’s stock valued at $31,000 after acquiring an additional 485 shares during the period. Hantz Financial Services Inc. lifted its stake in Ziff Davis by 212.2% in the fourth quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company’s stock valued at $31,000 after buying an additional 590 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Ziff Davis by 207.1% in the 4th quarter. GAMMA Investing LLC now owns 906 shares of the technology company’s stock worth $32,000 after purchasing an additional 611 shares during the period. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Ziff Davis Trading Down 12.9%

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.61 and a current ratio of 1.61. The business has a 50-day simple moving average of $35.11 and a two-hundred day simple moving average of $35.53. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 10.21 and a beta of 1.46.

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.