Ziff Davis (NASDAQ:ZD) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada raised its price target on Ziff Davis from $40 to $48 and kept an outperform rating, implying about 15% upside from the current share price.
• Several other analysts also updated their views, leaving Ziff Davis with a consensus Hold rating and an average price target of $45.38.
• Ziff Davis reported quarterly EPS of $0.73, slightly beating estimates, while revenue of $267.64 million also topped expectations despite a 1.9% year-over-year decline.

Ziff Davis (NASDAQ:ZD - Get Free Report) had its price objective boosted by analysts at Royal Bank Of Canada from $40.00 to $48.00 in a research report issued on Monday,Benzinga reports. The firm currently has an "outperform" rating on the technology company's stock. Royal Bank Of Canada's price target suggests a potential upside of 15.27% from the company's current price.

A number of other analysts have also recently commented on ZD. Barclays boosted their target price on shares of Ziff Davis from $45.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Monday. Weiss Ratings raised shares of Ziff Davis from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, April 21st. Evercore reiterated an "outperform" rating and set a $46.00 price objective on shares of Ziff Davis in a research note on Tuesday, February 24th. UBS Group reduced their target price on Ziff Davis from $38.00 to $30.00 and set a "neutral" rating for the company in a report on Wednesday, February 25th. Finally, Citigroup raised their target price on Ziff Davis from $29.00 to $48.00 and gave the company a "neutral" rating in a research report on Friday, March 6th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Ziff Davis presently has a consensus rating of "Hold" and a consensus price target of $45.38.

Ziff Davis Price Performance

Shares of Ziff Davis stock traded up $0.62 on Monday, reaching $41.64. The company's stock had a trading volume of 213,691 shares, compared to its average volume of 912,388. The company has a quick ratio of 1.27, a current ratio of 1.66 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $1.58 billion, a P/E ratio of 36.83 and a beta of 1.14. The stock has a 50-day moving average price of $42.48 and a 200-day moving average price of $37.25. Ziff Davis has a 52-week low of $22.45 and a 52-week high of $50.55.

Ziff Davis (NASDAQ:ZD - Get Free Report) last announced its earnings results on Thursday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.01. The firm 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%.The business's revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.14 EPS. Analysts expect that Ziff Davis will post 4.26 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Federated Hermes Inc. acquired a new position in Ziff Davis during the 4th quarter worth $25,000. Hantz Financial Services Inc. boosted its stake in shares of Ziff Davis by 212.2% in the 4th quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company's stock valued at $31,000 after buying an additional 590 shares during the period. NBC Securities Inc. boosted its stake in shares of Ziff Davis by 121.3% in the 4th quarter. NBC Securities Inc. now owns 885 shares of the technology company's stock valued at $31,000 after buying an additional 485 shares during the period. GAMMA Investing LLC grew its position in shares of Ziff Davis by 207.1% during the fourth quarter. GAMMA Investing LLC now owns 906 shares of the technology company's stock worth $32,000 after buying an additional 611 shares in the last quarter. Finally, First Horizon Corp purchased a new position in Ziff Davis in the third quarter worth approximately $35,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

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.

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