Citigroup Forecasts Strong Price Appreciation for Ziff Davis (NASDAQ:ZD) Stock

Key Points

• Citigroup raised its price target on Ziff Davis from $29 to $48 while keeping a "neutral" rating, implying roughly a 13.6% upside from the prior close.
• The analyst consensus is a "Hold" with an average target of $41.13 (3 Buys, 5 Holds, 1 Sell), amid mixed firm views such as Evercore's $46 and JPMorgan's $35 targets.
• ZD traded down about 3.2% to $42.25 midday, has a market cap of $1.59B, a P/E of 38.4 and a 52‑week range of $22.45–$50.55, with roughly 99.8% of shares held by institutional investors.

Ziff Davis (NASDAQ:ZD - Get Free Report) had its target price lifted by stock analysts at Citigroup from $29.00 to $48.00 in a report released on Friday,Benzinga reports. The firm presently has a "neutral" rating on the technology company's stock. Citigroup's price target suggests a potential upside of 13.61% from the company's previous close.

ZD has been the topic of a number of other research reports. Zacks Research raised shares of Ziff Davis from a "strong sell" rating to a "hold" rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. dropped their target price on shares of Ziff Davis from $40.00 to $35.00 and set a "neutral" rating on the stock in a report on Wednesday, February 25th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Ziff Davis in a research report on Wednesday, January 21st. Evercore reissued an "outperform" rating and set a $46.00 price target on shares of Ziff Davis in a report on Tuesday, February 24th. Finally, UBS Group dropped their price target on Ziff Davis from $38.00 to $30.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 25th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Ziff Davis has a consensus rating of "Hold" and a consensus target price of $41.13.

Ziff Davis Stock Down 3.2%

Shares of ZD stock traded down $1.40 during mid-day trading on Friday, hitting $42.25. The company's stock had a trading volume of 313,680 shares, compared to its average volume of 1,073,703. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 38.41 and a beta of 1.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.27 and a current ratio of 1.27. Ziff Davis has a 52-week low of $22.45 and a 52-week high of $50.55. The business has a 50-day moving average price of $34.71 and a 200 day moving average price of $35.38.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Legal & General Group Plc increased its holdings in Ziff Davis by 9.0% in the 2nd quarter. Legal & General Group Plc now owns 2,669,113 shares of the technology company's stock worth $80,794,000 after acquiring an additional 221,445 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Ziff Davis by 1.7% during the second quarter. Geode Capital Management LLC now owns 1,081,156 shares of the technology company's stock valued at $32,730,000 after purchasing an additional 18,577 shares in the last quarter. LSV Asset Management boosted its position in shares of Ziff Davis by 17.5% in the fourth quarter. LSV Asset Management now owns 907,721 shares of the technology company's stock worth $31,906,000 after purchasing an additional 135,021 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in shares of Ziff Davis by 10.6% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 860,582 shares of the technology company's stock worth $30,249,000 after purchasing an additional 82,761 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Ziff Davis by 5.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 835,113 shares of the technology company's stock valued at $29,354,000 after purchasing an additional 44,923 shares during the period. 99.76% of the stock is owned by hedge funds and other institutional investors.

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.