Ziff Davis (NASDAQ:ZD) Issues Earnings Results

Key Points

• Ziff Davis reported quarterly earnings of $1.24 EPS, beating estimates of $1.22 EPS, and generated $352.21 million in revenue, which surpassed the consensus estimate of $337.47 million.
• Despite the positive earnings results, Ziff Davis shares fell 2.7% to $36.68, with a year range for the stock between $28.55 and $60.62.
• Analysts have mixed views on Ziff Davis, with multiple target price adjustments; Citigroup reduced its target from $52.00 to $35.00, and the consensus rating is currently "Hold" with an average price target of $48.00.

Ziff Davis (NASDAQ:ZD - Get Free Report) posted its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.22 by $0.02, Briefing.com reports. 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 the consensus estimate of $337.47 million. During the same period in the prior year, the company earned $1.18 EPS. The firm's revenue was up 10.0% compared to the same quarter last year.

Ziff Davis Trading Up 3.8%

Ziff Davis stock traded up $1.33 during midday trading on Wednesday, reaching $36.00. 149,306 shares of the stock traded hands, compared to its average volume of 549,119. The company has a 50-day simple moving average of $32.18 and a two-hundred day simple moving average of $36.66. Ziff Davis has a 12-month low of $28.55 and a 12-month high of $60.62. The firm has a market cap of $1.48 billion, a PE ratio of 23.99 and a beta of 1.63. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47.

Hedge Funds Weigh In On Ziff Davis

An institutional investor recently raised its position in Ziff Davis stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 2.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 160,656 shares of the technology company's stock after buying an additional 3,696 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.38% of Ziff Davis worth $6,037,000 as of its most recent SEC filing. 99.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ZD has been the subject of several recent research reports. JPMorgan Chase & Co. downgraded Ziff Davis from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $60.00 to $33.00 in a research note on Tuesday, April 22nd. Susquehanna dropped their target price on Ziff Davis from $80.00 to $45.00 and set a "positive" rating for the company in a report on Monday, May 12th. Wall Street Zen upgraded Ziff Davis from a "hold" rating to a "buy" rating in a report on Saturday. UBS Group set a $40.00 target price on Ziff Davis and gave the company a "neutral" rating in a report on Wednesday, May 14th. Finally, Barclays reiterated a "positive" rating on shares of Ziff Davis in a report on Friday, August 8th. Three investment 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, the company has a consensus rating of "Moderate Buy" and an average target price of $46.86.

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.