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

Key Points

• Barclays has raised Ziff Davis's price target from $34.00 to $40.00, indicating a potential upside of 11.09% from its current price.
• Ziff Davis's stock is currently rated as a "Hold" by most analysts, with a consensus average target price of $48.00.
• The company reported a revenue of $352.21 million in its latest quarterly earnings, exceeding analysts' expectations and marking a 10% increase year-over-year.

Ziff Davis (NASDAQ:ZD - Free Report) had its price target upped by Barclays from $34.00 to $40.00 in a research note issued to investors on Friday,Benzinga reports. Barclays currently has an equal weight rating on the technology company's stock.

A number of other analysts also recently issued reports on the company. Citigroup decreased their price target on Ziff Davis from $52.00 to $35.00 and set a "neutral" rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. cut Ziff Davis from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $60.00 to $33.00 in a research report on Tuesday, April 22nd. Wall Street Zen cut Ziff Davis from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Susquehanna decreased their price target on Ziff Davis from $80.00 to $45.00 and set a "positive" rating on the stock in a research note on Monday, May 12th. Finally, UBS Group set a $40.00 target price on Ziff Davis and gave the company a "neutral" rating in a research note on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Ziff Davis currently has a consensus rating of "Moderate Buy" and an average price target of $46.86.

Ziff Davis Trading Up 0.9%

ZD stock traded up $0.32 during midday trading on Friday, hitting $34.67. 531,940 shares of the company's stock were exchanged, compared to its average volume of 552,040. Ziff Davis has a 1-year low of $28.55 and a 1-year high of $60.62. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47. The business has a 50-day simple moving average of $32.13 and a two-hundred day simple moving average of $36.67. The stock has a market capitalization of $1.42 billion, a PE ratio of 23.11 and a beta of 1.63.

Ziff Davis (NASDAQ:ZD - Get Free Report) last released its earnings results on Wednesday, August 6th. The technology company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.22 by $0.02. Ziff Davis had a return on equity of 13.91% and a net margin of 4.57%. The firm had revenue of $352.21 million during the quarter, compared to analysts' expectations of $337.47 million. During the same period in the previous year, the firm posted $1.18 EPS. Ziff Davis's revenue for the quarter was up 10.0% on a year-over-year basis. On average, sell-side analysts predict that Ziff Davis will post 5.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Ziff Davis

A number of institutional investors have recently added to or reduced their stakes in ZD. GAMMA Investing LLC lifted its stake in shares of Ziff Davis by 148.4% during the first quarter. GAMMA Investing LLC now owns 713 shares of the technology company's stock worth $27,000 after purchasing an additional 426 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Ziff Davis by 149.8% during the second quarter. Allworth Financial LP now owns 1,029 shares of the technology company's stock worth $31,000 after purchasing an additional 617 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Ziff Davis by 278.9% during the fourth quarter. Quadrant Capital Group LLC now owns 663 shares of the technology company's stock worth $36,000 after purchasing an additional 488 shares in the last quarter. TD Private Client Wealth LLC acquired a new position in shares of Ziff Davis during the second quarter worth about $37,000. Finally, State of Wyoming acquired a new position in shares of Ziff Davis during the first quarter worth about $39,000. Hedge funds and other institutional investors own 99.76% 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.