Brokerages Set Ziff Davis, Inc. (NASDAQ:ZD) Price Target at $38.83

Key Points

• Ziff Davis, Inc. has received a consensus recommendation of "Hold" from five analysts, with an average 12-month price target of $38.83.
• The company reported a 10% year-over-year increase in revenue, posting $352.21 million for the recent quarter and earnings per share of $1.24, exceeding estimates.
• Insider activity showed that Director Sarah Ann Fay purchased 1,354 shares, representing a 6.08% increase in her position, indicating confidence in the company's performance.

Shares of Ziff Davis, Inc. (NASDAQ:ZD - Get Free Report) have been assigned an average recommendation of "Hold" from the five brokerages that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $38.8333.

A number of research firms have recently issued reports on ZD. Barclays restated a "positive" rating on shares of Ziff Davis in a research note on Friday, August 8th. Wall Street Zen upgraded Ziff Davis from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Piper Sandler set a $40.00 price target on Ziff Davis in a research note on Friday, August 8th.

Insiders Place Their Bets

In related news, Director Sarah Ann Fay bought 1,354 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were bought at an average cost of $36.89 per share, for a total transaction of $49,949.06. Following the completion of the transaction, the director owned 23,619 shares of the company's stock, valued at approximately $871,304.91. This trade represents a 6.08% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.16% of the company's stock.

Hedge Funds Weigh In On Ziff Davis

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in shares of Ziff Davis by 148.4% in the first quarter. GAMMA Investing LLC now owns 713 shares of the technology company's stock valued at $27,000 after acquiring an additional 426 shares in the last quarter. Allworth Financial LP lifted its position in shares of Ziff Davis by 149.8% in the second quarter. Allworth Financial LP now owns 1,029 shares of the technology company's stock valued at $31,000 after acquiring an additional 617 shares in the last quarter. TD Private Client Wealth LLC purchased a new position in shares of Ziff Davis in the second quarter valued at about $37,000. State of Wyoming purchased a new position in shares of Ziff Davis in the first quarter valued at about $39,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Ziff Davis in the first quarter valued at about $57,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Ziff Davis Stock Down 2.3%

Shares of Ziff Davis stock traded down $0.90 on Friday, reaching $38.30. The company's stock had a trading volume of 1,213,038 shares, compared to its average volume of 454,665. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 25.53 and a beta of 1.58. The firm's fifty day simple moving average is $35.14 and its two-hundred day simple moving average is $34.25. Ziff Davis has a 52 week low of $28.55 and a 52 week high of $60.62. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.47.

Ziff Davis (NASDAQ:ZD - Get Free Report) last posted its earnings results on Wednesday, August 6th. The technology company reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.22 by $0.02. The business had revenue of $352.21 million during the quarter, compared to analyst estimates of $337.47 million. Ziff Davis had a return on equity of 13.91% and a net margin of 4.57%.The company's quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.18 EPS. Equities analysts anticipate that Ziff Davis will post 5.93 earnings per share for the current year.

About Ziff Davis

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.