Ziff Davis (NASDAQ:ZD) Updates FY24 Earnings Guidance

Ziff Davis (NASDAQ:ZD - Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $6.43-6.77 for the period, compared to the consensus estimate of $6.58. The company issued revenue guidance of $1.41-1.47 billion, compared to the consensus revenue estimate of $1.43 billion.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ZD shares. JPMorgan Chase & Co. upgraded shares of Ziff Davis from a neutral rating to an overweight rating and set a $70.00 price target on the stock in a report on Thursday, May 2nd. Evercore ISI lifted their price objective on Ziff Davis from $75.00 to $80.00 and gave the stock an outperform rating in a research report on Friday, February 23rd. Wedbush lifted their target price on Ziff Davis from $75.00 to $78.00 and gave the stock an outperform rating in a report on Friday, February 23rd. UBS Group lowered their price objective on shares of Ziff Davis from $77.00 to $76.00 and set a neutral rating for the company in a research note on Tuesday, March 5th. Finally, Barclays upped their price objective on shares of Ziff Davis from $66.00 to $68.00 and gave the company an equal weight rating in a report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Ziff Davis presently has an average rating of Moderate Buy and a consensus target price of $79.57.

Ziff Davis Stock Up 1.2 %

ZD stock traded up $0.67 during midday trading on Thursday, reaching $55.15. 611,543 shares of the company's stock traded hands, compared to its average volume of 310,886. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.53. The firm's fifty day moving average price is $58.88 and its 200-day moving average price is $63.08. Ziff Davis has a 52 week low of $49.50 and a 52 week high of $75.58. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 66.44 and a beta of 1.24.

Ziff Davis (NASDAQ:ZD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The technology company reported $2.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.17 by $0.02. Ziff Davis had a net margin of 3.04% and a return on equity of 13.97%. The firm had revenue of $389.89 million during the quarter, compared to analysts' expectations of $400.71 million. As a group, sell-side analysts forecast that Ziff Davis will post 6.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Jeremy Rossen sold 4,162 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $69.43, for a total value of $288,967.66. Following the completion of the sale, the executive vice president now directly owns 7,261 shares of the company's stock, valued at approximately $504,131.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.33% of the company's stock.

Ziff Davis Company Profile

Ziff Davis, Inc, together with its subsidiaries, operates as a digital media and internet company in the United States and internationally. The company offers PCMag, an online resource for laboratory-based product reviews, technology news, buying guides, and research papers; Mashable for publishing technology and culture content; Spiceworks Ziff Davis provides digital content of IT products and services; retailMeNot, a savings destination platform; Offers.com, a coupon and deals website; and event-based properties, including BlackFriday.com, TheBlackFriday.com, BestBlackFriday.com, and DealsofAmerica.com.