Ziff Davis (NASDAQ:ZD) Earns Neutral Rating from JPMorgan Chase & Co.

Key Points

• JPMorgan reaffirmed a “neutral” rating on Ziff Davis, while analysts overall maintain a consensus “Hold” rating and an average price target of $56.62.
• Ziff Davis reported quarterly EPS of $1.03, beating estimates of $0.81, and revenue of $286.74 million; however, revenue declined 18.7% year over year.
• The stock opened at $55.29, near its 52-week high of $58.06. Institutional investors own 99.76% of shares, while company insiders have sold 7,732 shares worth approximately $425,436 over the past 90 days.

Ziff Davis (NASDAQ:ZD - Get Free Report)'s stock had its "neutral" rating restated by research analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Friday, Benzinga reports.

A number of other brokerages have also recently issued reports on ZD. Susquehanna upped their price objective on shares of Ziff Davis from $60.00 to $75.00 and gave the company a "positive" rating in a research note on Monday, August 10th. Royal Bank Of Canada increased their price target on shares of Ziff Davis from $48.00 to $65.00 and gave the stock an "outperform" rating in a research note on Monday, August 10th. Weiss Ratings upgraded Ziff Davis from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 25th. Citigroup upped their price target on shares of Ziff Davis from $48.00 to $59.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. Finally, Evercore reiterated an "outperform" rating and set a $64.00 price target on shares of Ziff Davis in a report on Monday, August 10th. Three equities 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.com, Ziff Davis has a consensus rating of "Hold" and a consensus price target of $56.62.

Ziff Davis Stock Performance

NASDAQ ZD opened at $55.29 on Friday. The stock has a market capitalization of $1.90 billion, a PE ratio of 3.13 and a beta of 1.09. Ziff Davis has a 1 year low of $22.45 and a 1 year high of $58.06. The company's 50 day simple moving average is $54.09 and its two-hundred day simple moving average is $47.20. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.16 and a quick ratio of 2.16.

Ziff Davis (NASDAQ:ZD - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.22. Ziff Davis had a return on equity of 10.73% and a net margin of 48.57%.The firm had revenue of $286.74 million for the quarter, compared to analysts' expectations of $286.10 million. During the same quarter last year, the firm posted $1.24 EPS. The company's revenue was down 18.7% compared to the same quarter last year.

Insider Activity at Ziff Davis

In other Ziff Davis news, CAO Lori Tansley sold 1,400 shares of Ziff Davis stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $54.76, for a total transaction of $76,664.00. Following the transaction, the chief accounting officer owned 767 shares of the company's stock, valued at $42,000.92. The trade was a 64.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director W. Brian Kretzmer sold 2,513 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $55.31, for a total transaction of $138,994.03. Following the completion of the transaction, the director directly owned 20,000 shares of the company's stock, valued at $1,106,200. This represents a 11.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 7,732 shares of company stock worth $425,436. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ziff Davis

Hedge funds have recently made changes to their positions in the business. Jupiter Topco LLC bought a new stake in Ziff Davis during the 2nd quarter valued at approximately $187,893,000. Janus Henderson Group PLC lifted its holdings in shares of Ziff Davis by 2.7% in the first quarter. Janus Henderson Group PLC now owns 3,526,329 shares of the technology company's stock worth $147,963,000 after buying an additional 92,496 shares in the last quarter. Pale Fire Capital SE lifted its holdings in shares of Ziff Davis by 130.0% in the first quarter. Pale Fire Capital SE now owns 2,783,366 shares of the technology company's stock worth $116,790,000 after buying an additional 1,573,414 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Ziff Davis by 4,990.1% during the second quarter. California State Teachers Retirement System now owns 2,360,159 shares of the technology company's stock worth $123,602,000 after acquiring an additional 2,313,791 shares during the last quarter. Finally, Legal & General Group Plc purchased a new position in Ziff Davis during the second quarter valued at $94,314,000. 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.