Ziff Davis (NASDAQ:ZD) Sets New 12-Month High - Should You Buy?

Key Points

• Ziff Davis shares hit a new 52-week high on Monday, reaching as much as $50.61 before closing near $50.37. The move came on relatively light volume.
• Analyst sentiment is mixed: the stock currently carries a consensus “Hold” rating with an average price target of $47.25, even as some firms like Evercore and RBC remain positive. One recent downgrade from Zacks Research added to the split outlook.
• Latest earnings came in slightly ahead of expectations, with Q1 EPS of $0.73 versus the $0.72 estimate and revenue of $267.64 million topping forecasts. However, revenue was still down 1.9% year over year, and insiders have been selling shares recently.

Ziff Davis, Inc. (NASDAQ:ZD - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $50.61 and last traded at $50.3660, with a volume of 4348 shares traded. The stock had previously closed at $50.42.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Zacks Research downgraded Ziff Davis from a "hold" rating to a "strong sell" rating in a research report on Wednesday, May 6th. Barclays raised their target price on shares of Ziff Davis from $45.00 to $48.00 and gave the company an "equal weight" rating in a research report on Monday, May 11th. Royal Bank Of Canada boosted their price target on shares of Ziff Davis from $40.00 to $48.00 and gave the stock an "outperform" rating in a research report on Monday, May 11th. Evercore restated an "outperform" rating and set a $61.00 price objective on shares of Ziff Davis in a research note on Tuesday, May 12th. Finally, Weiss Ratings upgraded Ziff Davis from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, June 1st. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $47.25.

Ziff Davis Stock Performance

The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 45.34 and a beta of 1.13. The stock's fifty day moving average is $45.18 and its two-hundred day moving average is $40.10. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.42.

Ziff Davis (NASDAQ:ZD - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The technology company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.01. Ziff Davis had a net margin of 3.26% and a return on equity of 12.17%. The firm had revenue of $267.64 million during the quarter, compared to analysts' expectations of $264.32 million. During the same quarter last year, the company posted $1.14 earnings per share. The company's revenue for the quarter was down 1.9% compared to the same quarter last year. On average, analysts predict that Ziff Davis, Inc. will post 4.08 earnings per share for the current year.

Insider Activity at Ziff Davis

In related news, CFO Bret Richter sold 18,000 shares of Ziff Davis stock in a transaction dated Wednesday, June 10th. The stock was 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 owned 29,244 shares in the company, valued at approximately $1,370,958.72. This trade represents a 38.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jeremy Rossen sold 8,000 shares of the business'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 value of $376,000.00. Following the transaction, the executive vice president directly owned 14,462 shares in the company, valued at approximately $679,714. This trade represents a 35.62% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 31,422 shares of company stock worth $1,468,864. Insiders own 3.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. lifted its holdings in Ziff Davis by 0.3% during the 1st quarter. Pacer Advisors Inc. now owns 288,785 shares of the technology company's stock valued at $12,117,000 after purchasing an additional 921 shares during the last quarter. Edgestream Partners L.P. bought a new position in Ziff Davis during the first quarter worth $3,489,000. Janus Henderson Group PLC increased its holdings in shares of Ziff Davis by 2.7% in the first quarter. Janus Henderson Group PLC now owns 3,526,329 shares of the technology company's stock valued at $147,963,000 after purchasing an additional 92,496 shares during the last quarter. Amundi raised its position in shares of Ziff Davis by 4.1% in the first quarter. Amundi now owns 119,364 shares of the technology company's stock valued at $5,009,000 after purchasing an additional 4,678 shares during the period. Finally, California State Teachers Retirement System raised its position in shares of Ziff Davis by 20.9% in the first quarter. California State Teachers Retirement System now owns 46,368 shares of the technology company's stock valued at $1,946,000 after purchasing an additional 8,008 shares during the period. 99.76% of the stock is owned by institutional investors and hedge funds.

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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