Ziff Davis (NASDAQ:ZD) Stock Rating Upgraded by Wall Street Zen

Key Points

• Ziff Davis' rating was upgraded from "hold" to "buy" by Wall Street Zen, indicating a more favorable outlook for the stock.
• Multiple analysts have adjusted their price targets for Ziff Davis, with UBS setting a target of $40.00 and JPMorgan lowering theirs to $33.00.
• The company reported earnings of $1.24 per share, exceeding analyst expectations, and achieved a revenue of $352.21 million for the latest quarter.

Ziff Davis (NASDAQ:ZD - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

Several other research analysts also recently issued reports on the stock. Susquehanna lowered their price target on shares of Ziff Davis from $80.00 to $45.00 and set a "positive" rating for the company in a report on Monday, May 12th. JPMorgan Chase & Co. cut shares of Ziff Davis from an "overweight" rating to a "neutral" rating and cut their price target for the company from $60.00 to $33.00 in a research report on Tuesday, April 22nd. UBS Group set a $40.00 target price on shares of Ziff Davis and gave the stock a "neutral" rating in a report on Wednesday, May 14th. Citigroup decreased their price objective on shares of Ziff Davis from $52.00 to $35.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Finally, Barclays increased their target price on shares of Ziff Davis from $34.00 to $40.00 and gave the company an "equal weight" rating in a research report on Friday, August 8th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $46.86.

Ziff Davis Price Performance

Shares of NASDAQ ZD traded up $1.31 during midday trading on Friday, reaching $35.98. The company's stock had a trading volume of 143,032 shares, compared to its average volume of 549,119. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.59 and a current ratio of 1.59. Ziff Davis has a fifty-two week low of $28.55 and a fifty-two week high of $60.62. The business's 50 day moving average price is $32.18 and its two-hundred day moving average price is $36.66. The company has a market cap of $1.48 billion, a P/E ratio of 24.03 and a beta of 1.63.

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

Hedge Funds Weigh In On Ziff Davis

Several large investors have recently made changes to their positions in the business. Capital Fund Management S.A. purchased a new position in shares of Ziff Davis during the second quarter valued at approximately $591,000. Choreo LLC raised its holdings in Ziff Davis by 110.5% in the 2nd quarter. Choreo LLC now owns 14,738 shares of the technology company's stock worth $446,000 after acquiring an additional 7,738 shares during the last quarter. Prudential Financial Inc. raised its holdings in Ziff Davis by 3.4% in the 2nd quarter. Prudential Financial Inc. now owns 84,948 shares of the technology company's stock worth $2,571,000 after acquiring an additional 2,773 shares during the last quarter. American Century Companies Inc. raised its holdings in Ziff Davis by 12.8% in the 2nd quarter. American Century Companies Inc. now owns 93,221 shares of the technology company's stock worth $2,822,000 after acquiring an additional 10,606 shares during the last quarter. Finally, AXQ Capital LP purchased a new position in Ziff Davis in the 2nd quarter worth approximately $536,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

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.