Ziff Davis (NASDAQ:ZD) Given New $48.00 Price Target at Barclays

Key Points

• Barclays raised its price target on Ziff Davis to $48 from $45 and kept an equal weight rating, implying about 16.45% upside from the prior close.
• Ziff Davis shares were up 0.5% to $41.22 on Monday, with the stock trading below its 52-week high of $50.55 but above its 52-week low of $22.45.
• The company recently beat quarterly expectations, reporting $0.73 EPS on revenue of $267.64 million, while analyst sentiment remains mixed with a consensus rating of Hold and an average price target of $44.38.

Ziff Davis (NASDAQ:ZD - Get Free Report) had its price target boosted by analysts at Barclays from $45.00 to $48.00 in a research note issued on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the technology company's stock. Barclays's price target points to a potential upside of 16.45% from the stock's previous close.

Several other research analysts have also recently issued reports on the company. Susquehanna raised their price objective on Ziff Davis from $45.00 to $60.00 and gave the stock a "positive" rating in a research note on Tuesday, May 5th. Royal Bank Of Canada restated an "outperform" rating and issued a $40.00 price objective on shares of Ziff Davis in a research note on Tuesday, February 24th. UBS Group reduced their price objective on Ziff Davis from $38.00 to $30.00 and set a "neutral" rating for the company in a research note on Wednesday, February 25th. Piper Sandler set a $48.00 price objective on Ziff Davis in a research note on Monday. Finally, Zacks Research cut Ziff Davis from a "hold" rating to a "strong sell" rating in a research note on Wednesday, May 6th. 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. Based on data from MarketBeat.com, Ziff Davis has a consensus rating of "Hold" and a consensus price target of $44.38.

Ziff Davis Stock Up 0.5%

Shares of ZD stock traded up $0.20 during trading hours on Monday, reaching $41.22. 81,618 shares of the company's stock were exchanged, compared to its average volume of 910,969. Ziff Davis has a 1 year low of $22.45 and a 1 year high of $50.55. The stock has a market cap of $1.56 billion, a PE ratio of 36.59 and a beta of 1.14. The company has a current ratio of 1.66, a quick ratio of 1.27 and a debt-to-equity ratio of 0.42. The stock's fifty day moving average price is $42.48 and its two-hundred day moving average price is $37.25.

Ziff Davis (NASDAQ:ZD - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. Ziff Davis had a return on equity of 12.17% and a net margin of 3.26%.The firm had revenue of $267.64 million during the quarter, compared to analysts' expectations of $264.32 million. During the same period last year, the business posted $1.14 earnings per share. The company's revenue for the quarter was down 1.9% compared to the same quarter last year. Research analysts predict that Ziff Davis will post 4.26 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ZD. Goldman Sachs Group Inc. raised its position in Ziff Davis by 260.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 597,573 shares of the technology company's stock valued at $21,005,000 after acquiring an additional 431,828 shares in the last quarter. LSV Asset Management raised its position in Ziff Davis by 75.6% during the third quarter. LSV Asset Management now owns 772,700 shares of the technology company's stock valued at $29,440,000 after acquiring an additional 332,674 shares in the last quarter. Invenomic Capital Management LP raised its position in Ziff Davis by 86.0% during the third quarter. Invenomic Capital Management LP now owns 408,449 shares of the technology company's stock valued at $15,562,000 after acquiring an additional 188,844 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Ziff Davis by 88.5% in the fourth quarter. AQR Capital Management LLC now owns 399,259 shares of the technology company's stock valued at $14,034,000 after buying an additional 187,431 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Ziff Davis by 46.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 552,385 shares of the technology company's stock valued at $21,046,000 after buying an additional 174,287 shares in the last quarter. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

About Ziff Davis

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.

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