Ziff Davis, Inc. (NASDAQ:ZD) Stock Has Average Price Target of $59.75

Ziff Davis, Inc. (NASDAQ:ZD) has earned an average rating of “Hold” from the nine research firms that are covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $59.75.

Several research firms recently issued reports on ZD. Weiss Ratings upgraded Ziff Davis from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Evercore reaffirmed an “outperform” rating and issued a $64.00 price objective on shares of Ziff Davis in a research note on Monday, August 10th. Royal Bank Of Canada increased their price objective on shares of Ziff Davis from $48.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, August 10th. JPMorgan Chase & Co. initiated coverage on shares of Ziff Davis in a research note on Friday, September 11th. They issued a “neutral” rating and a $60.00 price target on the stock. Finally, Susquehanna increased their price target on Ziff Davis from $60.00 to $75.00 and gave the stock a “positive” rating in a research report on Monday, August 10th.

Ziff Davis Stock Performance

NASDAQ ZD opened at $55.20 on Wednesday. The company’s 50 day moving average is $55.48 and its 200-day moving average is $49.50. Ziff Davis has a 12-month low of $22.45 and a 12-month high of $60.48. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.32. The firm has a market cap of $1.89 billion, a P/E ratio of 3.12 and a beta of 1.11.

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

Insider Transactions at Ziff Davis

In other news, EVP Jeremy Rossen sold 3,819 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $54.93, for a total transaction of $209,777.67. Following the completion of the transaction, the executive vice president directly owned 10,643 shares in the company, valued at approximately $584,619.99. This represents a 26.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Lori A. Tansley sold 1,400 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $54.76, for a total value of $76,664.00. Following the completion of the sale, the chief accounting officer directly owned 767 shares in the company, valued at approximately $42,000.92. The trade was a 64.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 7,732 shares of company stock valued at $425,436 over the last ninety days. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Ziff Davis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZD. Corsair Capital Management L.P. purchased a new position in shares of Ziff Davis during the first quarter worth about $1,888,000. Bank of America Corp DE acquired a new stake in Ziff Davis during the 2nd quarter valued at $10,740,000. Aldebaran Capital LLC purchased a new position in shares of Ziff Davis during the 1st quarter worth about $1,728,000. NewGen Asset Management Ltd purchased a new position in shares of Ziff Davis during the 1st quarter valued at approximately $2,203,000. Finally, Varde Management L.P. grew its position in shares of Ziff Davis by 16.9% in the 2nd quarter. Varde Management L.P. now owns 624,028 shares of the technology company’s stock worth $32,680,000 after acquiring an additional 90,000 shares in the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

Ziff Davis Company Profile

Ziff Davis, Inc (NASDAQ:ZD) is a digital media and technology company that creates content, services and online experiences for consumers and businesses. Its portfolio spans technology, gaming and entertainment, shopping, health and wellness, and cybersecurity and marketing technology.

The company operates a range of digital brands and platforms, including IGN, PCMag, Mashable, Lifehacker, RetailMeNot, Ookla, Spiceworks and Humble Bundle. Its offerings include editorial content and reviews, consumer purchase guidance, gaming and entertainment coverage, internet-performance testing, software and data services, and business-to-business marketing solutions.

Ziff Davis traces its origins to the magazine publisher founded in 1927 by William Bernard Ziff and Bernard G.