Ziff Davis (NASDAQ:ZD) Shares Gap Up - What's Next?

Key Points

• Shares of Ziff Davis gapped up pre-market from $46.54 to an opening price of $48.69 and last traded around $48.23 on a volume of about 21,401 shares.
• Analysts are mixed: MarketBeat's consensus is a Hold with an average target of $41.13, while individual price targets vary widely (UBS $30, Citi $48, RBC $40).
• Ziff Davis has a market cap of $1.82 billion and a PE of 43.82, 50-/200-day moving averages of $40.61/$36.87, and very high institutional ownership (about 99.8%) with several funds modestly increasing positions.

Shares of Ziff Davis, Inc. (NASDAQ:ZD - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $46.54, but opened at $48.69. Ziff Davis shares last traded at $48.2340, with a volume of 21,401 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ZD. UBS Group lowered their price target on Ziff Davis from $38.00 to $30.00 and set a "neutral" rating on the stock in a report on Wednesday, February 25th. Citigroup boosted their target price on Ziff Davis from $29.00 to $48.00 and gave the stock a "neutral" rating in a research report on Friday, March 6th. Royal Bank Of Canada restated an "outperform" rating and issued a $40.00 price target on shares of Ziff Davis in a research report on Tuesday, February 24th. Weiss Ratings raised Ziff Davis from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, April 21st. Finally, Zacks Research upgraded shares of Ziff Davis from a "strong sell" rating to a "hold" rating in a research report on Tuesday, January 6th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, Ziff Davis has a consensus rating of "Hold" and an average target price of $41.13.

Ziff Davis Trading Down 0.1%

The business has a 50-day moving average of $40.61 and a 200 day moving average of $36.87. The stock has a market cap of $1.82 billion, a PE ratio of 43.82 and a beta of 1.14. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.27 and a current ratio of 1.27.

Institutional Trading of Ziff Davis

Hedge funds and other institutional investors have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Ziff Davis by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 160,656 shares of the technology company's stock valued at $6,037,000 after acquiring an additional 3,696 shares during the last quarter. Invesco Ltd. grew its position in shares of Ziff Davis by 1.3% in the second quarter. Invesco Ltd. now owns 188,595 shares of the technology company's stock valued at $5,709,000 after purchasing an additional 2,347 shares during the period. First Trust Advisors LP grew its position in shares of Ziff Davis by 46.2% in the second quarter. First Trust Advisors LP now owns 100,549 shares of the technology company's stock valued at $3,044,000 after purchasing an additional 31,765 shares during the period. Jump Financial LLC acquired a new position in Ziff Davis in the second quarter valued at $927,000. Finally, Cerity Partners LLC acquired a new position in Ziff Davis in the second quarter valued at $380,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

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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