JPMorgan Chase & Co. Has Lowered Expectations for Ziff Davis (NASDAQ:ZD) Stock Price

Ziff Davis (NASDAQ:ZD) had its target price cut by equities researchers at JPMorgan Chase & Co. from $40.00 to $35.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 29.50% from the company’s previous close.

A number of other equities analysts have also weighed in on ZD. Zacks Research raised Ziff Davis from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Barclays reduced their price target on Ziff Davis from $40.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, November 10th. Citigroup lowered their price target on shares of Ziff Davis from $42.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, November 10th. UBS Group cut their price objective on shares of Ziff Davis from $40.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, November 10th. Finally, Wall Street Zen downgraded shares of Ziff Davis from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Three investment analysts have 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 has an average rating of “Hold” and an average price target of $39.13.

Ziff Davis Price Performance

Shares of Ziff Davis stock traded up $0.52 on Wednesday, hitting $27.03. 1,035,492 shares of the company were exchanged, compared to its average volume of 679,480. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average price of $34.92 and a 200 day moving average price of $35.46. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 24.59 and a beta of 1.46. Ziff Davis has a 1-year low of $22.45 and a 1-year high of $47.53.

Hedge Funds Weigh In On Ziff Davis

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of Ziff Davis by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,081,156 shares of the technology company’s stock worth $32,730,000 after purchasing an additional 18,577 shares during the last quarter. Allianz Asset Management GmbH raised its stake in Ziff Davis by 23.9% in the third quarter. Allianz Asset Management GmbH now owns 239,594 shares of the technology company’s stock valued at $9,129,000 after buying an additional 46,282 shares in the last quarter. Empowered Funds LLC raised its stake in Ziff Davis by 19.8% in the second quarter. Empowered Funds LLC now owns 215,503 shares of the technology company’s stock valued at $6,523,000 after buying an additional 35,621 shares in the last quarter. Cresset Asset Management LLC purchased a new stake in Ziff Davis during the 2nd quarter worth about $1,286,000. Finally, Bank of Montreal Can boosted its position in shares of Ziff Davis by 84.4% during the 2nd quarter. Bank of Montreal Can now owns 12,472 shares of the technology company’s stock worth $378,000 after acquiring an additional 5,709 shares in the last quarter. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

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.