Ziff Davis (NASDAQ:ZD) Releases Earnings Results, Beats Expectations By $0.01 EPS

Ziff Davis (NASDAQ:ZD) released its quarterly earnings data on Thursday. The technology company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01, Briefing.com reports. Ziff Davis had a net margin of 3.26% and a return on equity of 13.06%. The company had revenue of $267.64 million during the quarter, compared to the consensus estimate of $264.32 million. During the same quarter in the prior year, the firm earned $1.14 EPS. Ziff Davis’s quarterly revenue was down 1.9% on a year-over-year basis.

Ziff Davis Stock Down 5.3%

Ziff Davis stock traded down $2.29 during midday trading on Friday, hitting $41.02. The stock had a trading volume of 1,128,978 shares, compared to its average volume of 920,791. The business has a fifty day moving average price of $42.48 and a 200 day moving average price of $37.25. Ziff Davis has a 12 month low of $22.45 and a 12 month high of $50.55. The stock has a market cap of $1.55 billion, a P/E ratio of 37.29 and a beta of 1.14. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.41.

Analyst Upgrades and Downgrades

ZD has been the subject of several research analyst reports. Evercore reaffirmed an “outperform” rating and set a $46.00 target price on shares of Ziff Davis in a research note on Tuesday, February 24th. Susquehanna lifted their price target on shares of Ziff Davis from $45.00 to $60.00 and gave the stock a “positive” rating in a research note on Tuesday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Ziff Davis in a research note on Tuesday, February 24th. Weiss Ratings raised Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, April 21st. Finally, Barclays increased their price objective on shares of Ziff Davis from $34.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 4th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Ziff Davis currently has a consensus rating of “Hold” and a consensus price target of $43.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ZD. Cerity Partners LLC increased its position in Ziff Davis by 40.9% in the fourth quarter. Cerity Partners LLC now owns 9,661 shares of the technology company’s stock worth $340,000 after buying an additional 2,804 shares during the period. Freestone Grove Partners LP lifted its position in Ziff Davis by 40.6% in the 4th quarter. Freestone Grove Partners LP now owns 9,222 shares of the technology company’s stock valued at $324,000 after purchasing an additional 2,665 shares during the last quarter. Mariner LLC bought a new position in Ziff Davis in the 4th quarter worth about $309,000. Mangrove Partners IM LLC acquired a new stake in shares of Ziff Davis in the fourth quarter valued at approximately $290,000. Finally, Corient Private Wealth LLC bought a new position in Ziff Davis in the 4th quarter worth approximately $269,000. 99.76% of the stock is owned by institutional investors and hedge funds.

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.