Ziff Davis (NASDAQ:ZD) Shares Gap Up – Should You Buy?

Ziff Davis, Inc. (NASDAQ:ZD)’s share price gapped up before the market opened on Friday . The stock had previously closed at $50.95, but opened at $56.94. Ziff Davis shares last traded at $57.0780, with a volume of 111,969 shares changing hands.

Analyst Ratings Changes

ZD has been the subject of several research reports. Barclays increased their price objective on shares of Ziff Davis from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Piper Sandler set a $48.00 price target on shares of Ziff Davis in a report on Monday, May 11th. Evercore reiterated an “outperform” rating and issued a $61.00 price target on shares of Ziff Davis in a research note on Tuesday, May 12th. Royal Bank Of Canada increased their price target on Ziff Davis from $40.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Finally, Susquehanna boosted their price objective on Ziff Davis from $45.00 to $60.00 and gave the stock a “positive” rating in a research report on Tuesday, May 5th. 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $47.25.

Ziff Davis Stock Performance

The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 1.66. The stock’s 50 day moving average price is $50.05 and its 200 day moving average price is $43.59. The company has a market capitalization of $2.10 billion, a P/E ratio of 50.45 and a beta of 1.08.

Ziff Davis (NASDAQ:ZD) last announced its earnings results on Thursday, May 7th. The technology company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $267.64 million during the quarter, compared to the consensus estimate of $264.32 million. Ziff Davis had a net margin of 3.26% and a return on equity of 12.17%. Ziff Davis’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 earnings per share.

Insider Activity at Ziff Davis

In related news, EVP Jeremy Rossen sold 8,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $47.00, for a total transaction of $376,000.00. Following the transaction, the executive vice president directly owned 14,462 shares of the company’s stock, valued at $679,714. This represents a 35.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Bret Richter sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $46.88, for a total value of $843,840.00. Following the completion of the sale, the chief financial officer owned 29,244 shares of the company’s stock, valued at approximately $1,370,958.72. This represents a 38.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 31,422 shares of company stock worth $1,468,864 in the last quarter. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Ziff Davis

A number of hedge funds have recently added to or reduced their stakes in ZD. Aldebaran Capital LLC bought a new stake in Ziff Davis during the first quarter worth $1,728,000. Corsair Capital Management L.P. bought a new position in Ziff Davis during the 1st quarter valued at $1,888,000. Brave Asset Management Inc. boosted its holdings in Ziff Davis by 11.9% during the 1st quarter. Brave Asset Management Inc. now owns 470,282 shares of the technology company’s stock worth $19,733,000 after acquiring an additional 50,127 shares during the last quarter. Incline Global Management LLC grew its stake in shares of Ziff Davis by 8.1% in the 4th quarter. Incline Global Management LLC now owns 401,933 shares of the technology company’s stock worth $14,128,000 after acquiring an additional 30,212 shares in the last quarter. Finally, NewGen Asset Management Ltd bought a new stake in shares of Ziff Davis in the 1st quarter worth $2,203,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

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.