Zedge (NYSEAMERICAN:ZDGE) Issues FY 2021 Earnings Guidance

Zedge (NYSEAMERICAN:ZDGE) updated its FY 2021 earnings guidance on Thursday. The company provided EPS guidance of $- for the period. The company issued revenue guidance of $18.47 million-18.94 million, compared to the consensus revenue estimate of $16.62 million.

Several brokerages recently weighed in on ZDGE. Maxim Group lifted their price objective on Zedge from $19.00 to $24.00 and gave the stock a buy rating in a report on Tuesday, March 16th. TheStreet upgraded Zedge from a c+ rating to a b- rating in a research note on Thursday, March 18th.

NYSEAMERICAN ZDGE traded up $0.31 during trading hours on Thursday, hitting $15.35. The company had a trading volume of 464,782 shares, compared to its average volume of 388,188. Zedge has a 52 week low of $1.10 and a 52 week high of $16.94. The company’s 50 day moving average is $4.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.65 and a quick ratio of 4.65. The company has a market capitalization of $199.66 million, a price-to-earnings ratio of 62.12 and a beta of 0.99.

Zedge (NYSEAMERICAN:ZDGE) last issued its earnings results on Sunday, March 14th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.04 by $0.13. Zedge had a return on equity of 31.26% and a net margin of 25.25%. The business had revenue of $5.31 million during the quarter.

In other news, CFO Yi Tsai sold 10,000 shares of Zedge stock in a transaction dated Monday, March 22nd. The stock was sold at an average price of $15.35, for a total transaction of $153,500.00. Following the completion of the sale, the chief financial officer now owns 10,000 shares in the company, valued at approximately $153,500. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 23.60% of the company’s stock.

An institutional investor recently raised its position in Zedge stock. Morgan Stanley lifted its position in shares of Zedge, Inc. (NYSEAMERICAN:ZDGE) by 936.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,555 shares of the company’s stock after buying an additional 14,958 shares during the period. Morgan Stanley owned about 0.13% of Zedge worth $200,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 25.51% of the company’s stock.

Zedge Company Profile

Zedge, Inc operates a digital publishing and content platform worldwide. Its platform enables consumers to personalize their mobile devices with ringtones, wallpapers, home screen app icons, widgets, and notification sounds. The company was incorporated in 2008 and is based in New York, New York.

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