Ziff Davis (NASDAQ:ZD) Stock Price Target Cut by Citigroup

Ziff Davis (NASDAQ:ZD) had its target price lowered by analysts at Citigroup from $59.00 to $56.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Citigroup‘s price objective indicates a potential upside of 9.07% from the stock’s current price.

ZD has been the subject of a number of other reports. Yorkville Ives assumed coverage on shares of Ziff Davis in a research report on Wednesday, October 7th. They issued an “outperform” rating and a $68.00 target price for the company. Susquehanna boosted their price target on shares of Ziff Davis from $60.00 to $75.00 and gave the stock a “positive” rating in a research report on Monday, August 10th. Zacks Research raised shares of Ziff Davis to a “hold” rating in a research note on Tuesday, September 15th. UBS Group upped their price objective on shares of Ziff Davis from $30.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings downgraded shares of Ziff Davis from a “hold (c+)” rating to a “hold (c-)” rating in a report on Monday. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Ziff Davis currently has a consensus rating of “Hold” and a consensus price target of $60.33.

Ziff Davis Price Performance

NASDAQ ZD traded up $0.20 during mid-day trading on Wednesday, hitting $51.34. The stock had a trading volume of 127,127 shares, compared to its average volume of 730,560. The firm’s 50 day moving average is $56.10 and its 200 day moving average is $47.81. Ziff Davis has a twelve month low of $22.45 and a twelve month high of $60.48. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.35 and a quick ratio of 2.16. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 3.04 and a beta of 1.10.

Ziff Davis (NASDAQ:ZD) last announced its quarterly earnings data on Thursday, November 5th. The technology company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.19. Ziff Davis had a return on equity of 9.10% and a net margin of 49.46%. The company had revenue of $289.33 million for the quarter, compared to analyst estimates of $295.31 million. During the same quarter last year, the firm posted $1.76 EPS. The firm’s revenue for the quarter was down 20.5% on a year-over-year basis. Equities research analysts forecast that Ziff Davis will post 4.41 earnings per share for the current fiscal year.

Insider Transactions at Ziff Davis

In other Ziff Davis news, Director W. Brian Kretzmer sold 2,513 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $55.31, for a total value of $138,994.03. Following the completion of the sale, the director directly owned 20,000 shares of the company’s stock, valued at $1,106,200. This trade represents a 11.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ziff Davis

A number of hedge funds have recently modified their holdings of the company. Jupiter Topco LLC purchased a new stake in shares of Ziff Davis in the second quarter valued at about $187,893,000. Janus Henderson Group PLC increased its position in Ziff Davis by 2.7% during the first quarter. Janus Henderson Group PLC now owns 3,526,329 shares of the technology company’s stock worth $147,963,000 after purchasing an additional 92,496 shares during the last quarter. Pale Fire Capital SE raised its stake in Ziff Davis by 130.0% during the first quarter. Pale Fire Capital SE now owns 2,783,366 shares of the technology company’s stock worth $116,790,000 after purchasing an additional 1,573,414 shares during the period. Legal & General Group Plc purchased a new position in Ziff Davis during the second quarter worth about $94,314,000. Finally, Rice Hall James & Associates LLC purchased a new position in Ziff Davis during the second quarter worth about $43,022,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Ziff Davis Company Profile

Ziff Davis, Inc. is a digital media and internet company that operates a portfolio of websites, apps and online services. Its brands cover technology and shopping, gaming and entertainment, health and wellness, connectivity, and cybersecurity and marketing technology. They include PCMag, IGN, Mashable, Everyday Health and Ookla, whose services include Speedtest and Downdetector. The company serves consumers and businesses in the United States and international markets. Its activities include publishing editorial content, providing internet and software services, and offering digital advertising and marketing solutions.