Ziff Davis (NASDAQ:ZD) Shares Gap Up - Should You Buy?

Key Points

• Ziff Davis shares jumped nearly 12%, opening at $56.94 versus the previous close of $50.95, with the stock last trading around $57.08.
• Analyst sentiment remains mixed: the consensus rating is Hold with an average price target of $47.25, below the stock’s trading price; targets range from $48 to $61.
• The company narrowly beat quarterly earnings and revenue estimates, but revenue declined 1.9% year over year. Insiders have sold about $1.47 million of stock over the past 90 days, while institutional investors own 99.76% of shares.

Shares of Ziff Davis, Inc. (NASDAQ:ZD - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $50.95, but opened at $56.94. Ziff Davis shares last traded at $57.0780, with a volume of 111,969 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ZD shares. 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 note on Monday, May 11th. Evercore restated an "outperform" rating and issued a $61.00 price objective on shares of Ziff Davis in a research note on Tuesday, May 12th. Piper Sandler set a $48.00 price objective on Ziff Davis in a research report on Monday, May 11th. Susquehanna lifted their target price on Ziff Davis from $45.00 to $60.00 and gave the stock a "positive" rating in a research note on Tuesday, May 5th. Finally, Zacks Research downgraded Ziff Davis from a "hold" rating to a "strong sell" rating in a report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Ziff Davis has a consensus rating of "Hold" and an average price target of $47.25.

Ziff Davis Price Performance

The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 50.45 and a beta of 1.08. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 1.66. The company has a fifty day simple moving average of $50.05 and a two-hundred day simple moving average of $43.59.

Ziff Davis (NASDAQ:ZD - Get Free Report) last released its earnings results on Thursday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. The company had revenue of $267.64 million for 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% on a year-over-year basis. During the same period in the prior year, the firm posted $1.14 EPS.

Insiders Place Their Bets

In other Ziff Davis news, Director Kirk P. Mcdonald sold 1,075 shares of the firm's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $46.65, for a total value of $50,148.75. Following the transaction, the director directly owned 13,468 shares of the company's stock, valued at $628,282.20. This trade represents a 7.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Bret Richter sold 18,000 shares of the business'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 owned 29,244 shares of the company's stock, valued at $1,370,958.72. The trade was a 38.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 31,422 shares of company stock worth $1,468,864 over the last ninety days. Corporate insiders own 3.40% of the company's stock.

Institutional Investors Weigh In On Ziff Davis

A number of large investors have recently modified their holdings of ZD. Federated Hermes Inc. acquired a new stake in Ziff Davis in the fourth quarter valued at about $25,000. Hantz Financial Services Inc. grew its position 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. NBC Securities Inc. raised its stake in Ziff Davis by 121.2% during the fourth quarter. NBC Securities Inc. now owns 885 shares of the technology company's stock worth $31,000 after acquiring an additional 485 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in Ziff Davis by 226.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 990 shares of the technology company's stock worth $35,000 after acquiring an additional 687 shares in the last quarter. Finally, TD Private Client Wealth LLC bought a new position in shares of Ziff Davis in the fourth quarter worth about $52,000. Institutional investors and hedge funds own 99.76% of the company's stock.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source