Ziff Davis (NASDAQ:ZD) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Ziff Davis shares crossed above their 200-day moving average, reaching $55.28 and last trading at $54.90 versus the $49.82 average.
• Analyst sentiment remains mixed, with an overall “Hold” rating and a consensus price target of $59.75; recent targets range from $60 to $65.
• The company beat quarterly earnings expectations, reporting $1.03 in EPS versus $0.81 expected, although revenue fell 18.7% year over year. Insiders sold 7,732 shares worth approximately $425,000 over the past 90 days.

Ziff Davis, Inc. (NASDAQ:ZD - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $49.82 and traded as high as $55.28. Ziff Davis shares last traded at $54.90, with a volume of 341,349 shares traded.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Weiss Ratings raised Ziff Davis from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 25th. JPMorgan Chase & Co. began coverage on Ziff Davis in a report on Friday, September 11th. They issued a "neutral" rating and a $60.00 price objective on the stock. Zacks Research upgraded Ziff Davis to a "hold" rating in a research report on Tuesday, September 15th. Evercore reissued an "outperform" rating and set a $64.00 target price on shares of Ziff Davis in a report on Monday, August 10th. Finally, Royal Bank Of Canada upped their price target on shares of Ziff Davis from $48.00 to $65.00 and gave the company an "outperform" rating in a research note on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $59.75.

Ziff Davis Stock Performance

The stock has a market cap of $1.88 billion, a P/E ratio of 3.11 and a beta of 1.11. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.32. The stock has a 50 day simple moving average of $55.60 and a 200 day simple moving average of $49.82.

Ziff Davis (NASDAQ:ZD - Get Free Report) last released its earnings results on Thursday, August 6th. The technology company reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $286.10 million. During the same period in the prior year, the company posted $1.24 EPS. The company's revenue was down 18.7% compared to the same quarter last year. On average, equities analysts expect that Ziff Davis, Inc. will post 4.26 earnings per share for the current year.

Insider Buying and Selling at Ziff Davis

In other news, Director W. Brian Kretzmer sold 2,513 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $55.31, for a total value of $138,994.03. Following the completion of the transaction, the director directly owned 20,000 shares in the company, valued at approximately $1,106,200. The trade was a 11.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeremy Rossen sold 3,819 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $54.93, for a total transaction of $209,777.67. Following the sale, the executive vice president directly owned 10,643 shares of the company's stock, valued at approximately $584,619.99. This trade represents a 26.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,732 shares of company stock valued at $425,436 in the last ninety days. 3.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ziff Davis

Several hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP bought a new stake in shares of Ziff Davis during the 2nd quarter worth $44,000. Rockefeller Capital Management L.P. boosted its stake in shares of Ziff Davis by 226.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 990 shares of the technology company's stock valued at $35,000 after purchasing an additional 687 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Ziff Davis during the 2nd quarter valued at approximately $58,000. Nykredit A S acquired a new position in Ziff Davis during the 2nd quarter worth approximately $68,000. Finally, Public Employees Retirement System of Ohio increased its position in Ziff Davis by 17.1% during the 1st quarter. Public Employees Retirement System of Ohio now owns 2,189 shares of the technology company's stock worth $92,000 after purchasing an additional 319 shares in the last quarter. Institutional investors own 99.76% of the company's stock.

Ziff Davis Company Profile

Ziff Davis, Inc NASDAQ: ZD is a digital media and technology company that creates content, services and online experiences for consumers and businesses. Its portfolio spans technology, gaming and entertainment, shopping, health and wellness, and cybersecurity and marketing technology.

The company operates a range of digital brands and platforms, including IGN, PCMag, Mashable, Lifehacker, RetailMeNot, Ookla, Spiceworks and Humble Bundle. Its offerings include editorial content and reviews, consumer purchase guidance, gaming and entertainment coverage, internet-performance testing, software and data services, and business-to-business marketing solutions.

Ziff Davis traces its origins to the magazine publisher founded in 1927 by William Bernard Ziff and Bernard G.

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