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

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.

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

Analyst Ratings Changes

ZD has been the subject of several research reports. Citigroup dropped their target price on Ziff Davis from $52.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. UBS Group set a $40.00 price objective on shares of Ziff Davis and gave the company a "neutral" rating in a report on Wednesday, May 14th. Susquehanna cut their target price on shares of Ziff Davis from $80.00 to $45.00 and set a "positive" rating on the stock in a research report on Monday, May 12th. JPMorgan Chase & Co. cut shares of Ziff Davis from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $60.00 to $33.00 in a research report on Tuesday, April 22nd. Finally, Piper Sandler set a $40.00 price target 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 assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $46.86.

Ziff Davis Price Performance

The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47. The business's 50-day simple moving average is $32.39 and its two-hundred day simple moving average is $36.40. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 24.27 and a beta of 1.63.

Ziff Davis (NASDAQ:ZD - Get Free Report) last announced its earnings results on Wednesday, August 6th. The technology company reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.02. The business had revenue of $352.21 million during the quarter, compared to the consensus estimate of $337.47 million. Ziff Davis had a net margin of 4.57% and a return on equity of 13.91%. Ziff Davis's quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.18 earnings per share. As a group, research analysts expect that Ziff Davis, Inc. will post 5.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Ziff Davis

Several institutional investors have recently made changes to their positions in ZD. GAMMA Investing LLC raised its stake in shares of Ziff Davis by 148.4% in the first quarter. GAMMA Investing LLC now owns 713 shares of the technology company's stock worth $27,000 after purchasing an additional 426 shares during the last quarter. Allworth Financial LP lifted 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 acquiring an additional 617 shares in the last quarter. TD Private Client Wealth LLC purchased a new position in Ziff Davis during the 2nd quarter worth $37,000. State of Wyoming bought 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 first quarter valued at about $57,000. Institutional investors and hedge funds own 99.76% of the company's stock.

About Ziff Davis

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.