Ziff Davis (NASDAQ:ZD) Hits New 12-Month High - Time to Buy?

Key Points

• Ziff Davis shares reached a new 52-week high of $54.98, trading near $53.97 and above their 50-day and 200-day moving averages.
• Analyst sentiment remains mixed: the stock has an average rating of “Hold” and a $47.25 price target, despite some firms raising targets as high as $61.
• The company slightly beat quarterly expectations with $0.73 EPS and $267.64 million in revenue, but revenue declined 1.9% year over year; insiders also sold roughly $1.47 million in stock during the quarter.

Shares of Ziff Davis, Inc. (NASDAQ:ZD - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $54.98 and last traded at $53.9650, with a volume of 21875 shares trading hands. The stock had previously closed at $53.08.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ZD. Evercore reaffirmed an "outperform" rating and set a $61.00 price objective on shares of Ziff Davis in a research note on Tuesday, May 12th. Weiss Ratings raised Ziff Davis from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, June 1st. Susquehanna increased their target price on Ziff Davis from $45.00 to $60.00 and gave the company a "positive" rating in a research note on Tuesday, May 5th. Zacks Research cut Ziff Davis from a "hold" rating to a "strong sell" rating in a report on Wednesday, May 6th. Finally, Barclays boosted their target price on Ziff Davis from $45.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Monday, May 11th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $47.25.

Ziff Davis Stock Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 1.66 and a quick ratio of 1.66. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 47.99 and a beta of 1.08. The stock has a 50-day moving average price of $49.37 and a 200 day moving average price of $43.13.

Ziff Davis (NASDAQ:ZD - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. The business had revenue of $267.64 million during the quarter, compared to analyst estimates of $264.32 million. Ziff Davis had a return on equity of 12.17% and a net margin of 3.26%.Ziff Davis's quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.14 EPS.

Insider Activity at Ziff Davis

In other news, CFO Bret Richter sold 18,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $46.88, for a total transaction of $843,840.00. Following the completion of the transaction, the chief financial officer directly owned 29,244 shares of the company's stock, valued at $1,370,958.72. This trade represents a 38.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeremy Rossen sold 8,000 shares of the firm's stock in a transaction that occurred 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 directly owned 14,462 shares of the company's stock, valued at $679,714. This represents a 35.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 31,422 shares of company stock valued at $1,468,864. 3.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ZD. Janus Henderson Group PLC increased its stake in Ziff Davis by 2.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,526,329 shares of the technology company's stock valued at $147,963,000 after buying an additional 92,496 shares during the last quarter. Pale Fire Capital SE lifted its position in Ziff Davis by 130.0% during the 1st quarter. Pale Fire Capital SE now owns 2,783,366 shares of the technology company's stock worth $116,790,000 after buying an additional 1,573,414 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Ziff Davis by 689.6% during the 1st quarter. First Trust Advisors LP now owns 974,591 shares of the technology company's stock worth $40,894,000 after buying an additional 851,163 shares during the last quarter. LSV Asset Management grew its holdings in shares of Ziff Davis by 17.5% in the 4th quarter. LSV Asset Management now owns 907,721 shares of the technology company's stock valued at $31,906,000 after acquiring an additional 135,021 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in shares of Ziff Davis by 10.6% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 860,582 shares of the technology company's stock valued at $30,249,000 after acquiring an additional 82,761 shares in the last quarter. Institutional investors and hedge funds own 99.76% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.