Ziff Davis (NASDAQ:ZD) Given New $75.00 Price Target at Susquehanna

Key Points

• Susquehanna raised Ziff Davis’s price target to $75 from $60 and maintained a “positive” rating, implying 38.84% upside from the prior close.
• Analyst sentiment remains mixed: Ziff Davis has an average “Hold” rating and a consensus price target of $49.12, despite three Buy ratings.
• The company beat quarterly earnings expectations with EPS of $1.03 versus $0.81 expected, but revenue fell 18.7% year over year to $286.74 million.

Ziff Davis (NASDAQ:ZD - Get Free Report) had its target price raised by equities research analysts at Susquehanna from $60.00 to $75.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "positive" rating on the technology company's stock. Susquehanna's price objective would indicate a potential upside of 38.84% from the stock's previous close.

A number of other analysts have also issued reports on the company. Zacks Research lowered Ziff Davis from a "hold" rating to a "strong sell" rating in a research note on Wednesday, May 6th. Citigroup reissued a "neutral" rating on shares of Ziff Davis in a research note on Monday. Barclays raised their price objective on Ziff Davis from $45.00 to $48.00 and gave the company an "equal weight" rating in a report on Monday, May 11th. Weiss Ratings raised shares of Ziff Davis from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, June 1st. Finally, Evercore reaffirmed an "outperform" rating and set a $61.00 target price on shares of Ziff Davis in a report on Tuesday, May 12th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $49.12.

Ziff Davis Stock Up 0.3%

ZD stock opened at $54.02 on Monday. Ziff Davis has a 52 week low of $22.45 and a 52 week high of $58.06. The company has a quick ratio of 1.66, a current ratio of 2.16 and a debt-to-equity ratio of 0.32. The firm has a 50-day simple moving average of $50.23 and a 200-day simple moving average of $43.71. The stock has a market capitalization of $1.99 billion, a P/E ratio of 3.14 and a beta of 1.08.

Ziff Davis (NASDAQ:ZD - Get Free Report) last issued its quarterly 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 net margin of 48.57% and a return on equity of 10.73%. The firm had revenue of $286.74 million for the quarter, compared to analyst estimates of $286.10 million. During the same period last year, the company posted $1.24 EPS. Ziff Davis's quarterly revenue was down 18.7% compared to the same quarter last year.

Insider Buying and Selling

In other news, EVP Jeremy Rossen sold 8,000 shares of Ziff Davis stock in a transaction on Friday, June 5th. The stock was sold at an average price of $47.00, for a total transaction of $376,000.00. Following the transaction, the executive vice president owned 14,462 shares in the company, valued at $679,714. The trade was a 35.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Bret Richter sold 18,000 shares of the business's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $46.88, for a total transaction of $843,840.00. Following the transaction, the chief financial officer directly owned 29,244 shares in the company, valued at approximately $1,370,958.72. The trade was a 38.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 31,422 shares of company stock worth $1,468,864. 3.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ziff Davis

A number of institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. purchased a new stake in shares of Ziff Davis in the 4th quarter valued at approximately $25,000. NBC Securities Inc. raised its position in shares of Ziff Davis by 121.2% during the 4th quarter. NBC Securities Inc. now owns 885 shares of the technology company's stock valued at $31,000 after buying an additional 485 shares during the period. Hantz Financial Services Inc. lifted its holdings in Ziff Davis by 212.2% in the fourth quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company's stock valued at $31,000 after acquiring an additional 590 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in Ziff Davis by 226.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 990 shares of the technology company's stock valued at $35,000 after acquiring an additional 687 shares during the last quarter. Finally, TD Private Client Wealth LLC acquired a new position in Ziff Davis in the fourth quarter valued at approximately $52,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Ziff Davis Company Profile

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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