Ziff Davis (NASDAQ:ZD) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Ziff Davis (NASDAQ:ZD) released its quarterly earnings data on Thursday. The technology company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.01, Briefing.com reports. The company had revenue of $267.64 million for 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 13.06%. Ziff Davis’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.14 EPS.

Ziff Davis Stock Performance

ZD traded down $2.29 on Friday, reaching $41.02. The company had a trading volume of 1,128,978 shares, compared to its average volume of 920,790. Ziff Davis has a fifty-two week low of $22.45 and a fifty-two week high of $50.55. The stock has a market cap of $1.55 billion, a P/E ratio of 37.29 and a beta of 1.14. The company’s fifty day moving average is $42.48 and its 200 day moving average is $37.25. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.27 and a current ratio of 1.27.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ZD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Ziff Davis by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 160,656 shares of the technology company’s stock valued at $6,037,000 after purchasing an additional 3,696 shares during the period. Invesco Ltd. boosted its holdings in Ziff Davis by 1.3% in the 2nd quarter. Invesco Ltd. now owns 188,595 shares of the technology company’s stock valued at $5,709,000 after purchasing an additional 2,347 shares during the period. First Trust Advisors LP boosted its holdings in Ziff Davis by 46.2% in the 2nd quarter. First Trust Advisors LP now owns 100,549 shares of the technology company’s stock valued at $3,044,000 after purchasing an additional 31,765 shares during the period. Jump Financial LLC bought a new stake in Ziff Davis in the 2nd quarter valued at about $927,000. Finally, Cerity Partners LLC bought a new stake in Ziff Davis in the 2nd quarter valued at about $380,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ZD. Barclays boosted their price objective on shares of Ziff Davis from $34.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 4th. JPMorgan Chase & Co. decreased their price target on shares of Ziff Davis from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. UBS Group decreased their price target on shares of Ziff Davis from $38.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Susquehanna upped their price target on shares of Ziff Davis from $45.00 to $60.00 and gave the company a “positive” rating in a research note on Tuesday. Finally, Citigroup upped their price target on shares of Ziff Davis from $29.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, March 6th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $43.00.

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.