Ziff Davis (NASDAQ:ZD) Hits New 1-Year High – Should You Buy?

Ziff Davis, Inc. (NASDAQ:ZD) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $58.21 and last traded at $58.3150, with a volume of 221413 shares traded. The stock had previously closed at $57.35.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ZD shares. Susquehanna upped their target price on shares of Ziff Davis from $60.00 to $75.00 and gave the stock a “positive” rating in a report on Monday, August 10th. JPMorgan Chase & Co. initiated coverage on Ziff Davis in a research note on Friday. They issued a “neutral” rating and a $60.00 price objective for the company. Royal Bank Of Canada increased their target price on Ziff Davis from $48.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. UBS Group boosted their price target on Ziff Davis from $30.00 to $59.00 and gave the stock a “neutral” rating in a report on Wednesday, August 12th. Finally, Evercore restated an “outperform” rating and issued a $64.00 price target on shares of Ziff Davis in a research note on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Ziff Davis has a consensus rating of “Hold” and a consensus target price of $59.75.

Ziff Davis Trading Up 4.1%

The company has a debt-to-equity ratio of 0.32, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a 50-day moving average price of $54.24 and a two-hundred day moving average price of $47.60. The stock has a market cap of $2.05 billion, a PE ratio of 3.38 and a beta of 1.09.

Ziff Davis (NASDAQ:ZD) last announced its quarterly earnings results on Thursday, August 6th. The technology company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.22. The company had revenue of $286.74 million during the quarter, compared to analyst estimates of $286.10 million. Ziff Davis had a return on equity of 10.73% and a net margin of 48.57%.The firm’s revenue was down 18.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.24 earnings per share.

Insider Activity at Ziff Davis

In other Ziff Davis news, EVP Jeremy Rossen sold 3,819 shares of Ziff Davis stock in a transaction on Monday, August 10th. The shares were sold at an average price of $54.93, for a total value of $209,777.67. Following the completion of the transaction, the executive vice president directly owned 10,643 shares of the company’s stock, valued at $584,619.99. This trade represents a 26.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Lori A. Tansley sold 1,400 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was 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 approximately $42,000.92. This trade 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 valued at $425,436. 3.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZD. Tidal Investments LLC purchased a new stake in Ziff Davis during the second quarter valued at approximately $228,000. Integrated Wealth Concepts LLC purchased a new position in shares of Ziff Davis in the 2nd quarter worth approximately $58,000. Varde Management L.P. increased its position in shares of Ziff Davis by 16.9% during the 2nd quarter. Varde Management L.P. now owns 624,028 shares of the technology company’s stock valued at $32,680,000 after purchasing an additional 90,000 shares during the last quarter. Nykredit A S purchased a new stake in Ziff Davis during the 2nd quarter valued at $68,000. Finally, Corient Private Wealth LP bought a new stake in Ziff Davis in the second quarter worth $2,978,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

About Ziff Davis

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.