Ziff Davis (NASDAQ:ZD) Upgraded by Zacks Research to “Hold” Rating

Ziff Davis (NASDAQ:ZD) was upgraded by investment analysts at Zacks Research to a “hold” rating in a research note issued to investors on Tuesday, Zacks reports.

ZD has been the subject of several other reports. Royal Bank Of Canada boosted their price target on shares of Ziff Davis from $48.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Evercore reaffirmed an “outperform” rating and set a $64.00 price objective on shares of Ziff Davis in a research note on Monday, August 10th. Susquehanna lifted their price objective on Ziff Davis from $60.00 to $75.00 and gave the stock a “positive” rating in a report on Monday, August 10th. JPMorgan Chase & Co. began coverage on Ziff Davis in a research note on Friday, September 11th. They issued a “neutral” rating and a $60.00 target price for the company. Finally, Citigroup increased their target price on Ziff Davis from $48.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $59.75.

Ziff Davis Trading Down 0.8%

ZD stock opened at $58.75 on Tuesday. The company has a market capitalization of $2.01 billion, a PE ratio of 3.32 and a beta of 1.09. Ziff Davis has a one year low of $22.45 and a one year high of $60.11. The company’s 50 day moving average price is $54.49 and its two-hundred day moving average price is $48.05. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.16 and a current ratio of 2.16.

Ziff Davis (NASDAQ:ZD) last announced its quarterly earnings data on Thursday, August 6th. The technology company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.22. Ziff Davis had a net margin of 48.57% and a return on equity of 10.73%. The firm had revenue of $286.74 million during the quarter, compared to analyst estimates of $286.10 million. During the same period in the previous year, the business posted $1.24 EPS. The business’s quarterly revenue was down 18.7% on a year-over-year basis. As a group, analysts predict that Ziff Davis will post 4.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Lori A. Tansley sold 1,400 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $54.76, for a total value of $76,664.00. Following the sale, the chief accounting officer directly owned 767 shares of the company’s stock, valued at $42,000.92. This trade represents a 64.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director W. Brian Kretzmer sold 2,513 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $55.31, for a total value of $138,994.03. Following the transaction, the director owned 20,000 shares in the company, valued at approximately $1,106,200. This represents a 11.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,732 shares of company stock valued at $425,436 in the last quarter. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Ziff Davis

A number of large investors have recently made changes to their positions in ZD. Jupiter Topco LLC purchased a new position in shares of Ziff Davis during the second quarter valued at approximately $187,893,000. Janus Henderson Group PLC boosted its holdings in Ziff Davis by 2.7% in the first quarter. Janus Henderson Group PLC now owns 3,526,329 shares of the technology company’s stock valued at $147,963,000 after acquiring an additional 92,496 shares in the last quarter. Pale Fire Capital SE increased its position in Ziff Davis by 130.0% during the 1st quarter. Pale Fire Capital SE now owns 2,783,366 shares of the technology company’s stock valued at $116,790,000 after purchasing an additional 1,573,414 shares during the period. Legal & General Group Plc purchased a new position in Ziff Davis during the 2nd quarter valued at $94,314,000. Finally, Rice Hall James & Associates LLC bought a new position in Ziff Davis in the 2nd quarter worth $43,022,000. 99.76% of the stock is currently owned by institutional investors.

Ziff Davis Company Profile

Ziff Davis, Inc is a digital media and technology company that operates a portfolio of internet-based brands serving consumers and businesses. Its properties provide technology news and reviews, gaming and entertainment content, health and wellness information, shopping resources, and specialized business media.

The company’s brands include PCMag, IGN, Mashable, Lifehacker, RetailMeNot, Humble Bundle, Spiceworks, Ookla and Speedtest, among others. Ziff Davis also offers cybersecurity, marketing technology and consumer subscription services, including products and platforms designed to support privacy, online security, connectivity testing and digital engagement.

Ziff Davis traces its roots to the publishing company founded by William B.