Ziff Davis (NASDAQ:ZD) Stock Price Down 4.3% - Here's What Happened

Key Points

• Ziff Davis shares declined by 4.3% to $35.11, with trading volume significantly down by 90% compared to the average.
• Research analysts have mixed sentiments about the stock, with recent target price adjustments ranging from $35.00 to $80.00, and an overall average price target of $46.86.
• The company's latest quarterly earnings showed a 10% increase in revenue year-over-year, surpassing analysts' expectations with an EPS of $1.24.

Ziff Davis, Inc. (NASDAQ:ZD - Get Free Report) shares fell 4.3% during trading on Monday . The company traded as low as $35.89 and last traded at $35.11. 52,835 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 546,949 shares. The stock had previously closed at $36.68.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Piper Sandler set a $40.00 price objective on Ziff Davis in a report on Friday. Wall Street Zen raised Ziff Davis from a "hold" rating to a "buy" rating in a research note on Saturday. Susquehanna cut their target price on Ziff Davis from $80.00 to $45.00 and set a "positive" rating on the stock in a research note on Monday, May 12th. UBS Group set a $40.00 target price on Ziff Davis and gave the stock a "neutral" rating in a research note on Wednesday, May 14th. Finally, Citigroup cut their target price on Ziff Davis from $52.00 to $35.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $46.86.

Ziff Davis Stock Performance

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.59 and a current ratio of 1.59. The business has a 50-day moving average price of $32.07 and a 200 day moving average price of $36.80. The stock has a market capitalization of $1.45 billion, a P/E ratio of 22.94 and a beta of 1.63.

Ziff Davis (NASDAQ:ZD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The technology company reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.22 by $0.02. 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 for the quarter, compared to analysts' expectations of $337.47 million. During the same period in the previous year, the firm posted $1.18 EPS. The business's revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Ziff Davis, Inc. will post 5.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Ziff Davis

A number of hedge funds have recently added to or reduced their stakes in ZD. GAMMA Investing LLC raised its stake in Ziff Davis by 148.4% during the 1st quarter. GAMMA Investing LLC now owns 713 shares of the technology company's stock valued at $27,000 after buying an additional 426 shares during the last quarter. Allworth Financial LP raised its stake in Ziff Davis by 149.8% during the 2nd quarter. Allworth Financial LP now owns 1,029 shares of the technology company's stock valued at $31,000 after buying an additional 617 shares during the last quarter. TD Private Client Wealth LLC purchased a new stake in shares of Ziff Davis in the 2nd quarter worth $37,000. State of Wyoming purchased a new stake in shares of Ziff Davis in the 1st quarter worth $39,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Ziff Davis in the 1st quarter worth $57,000. 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.

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