Ziff Davis (NASDAQ:ZD) Given New $48.00 Price Target at Royal Bank Of Canada

Ziff Davis (NASDAQ:ZD) had its price target hoisted by equities research analysts at Royal Bank Of Canada from $40.00 to $48.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 15.27% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Susquehanna upped their price target on shares of Ziff Davis from $45.00 to $60.00 and gave the company a “positive” rating in a research report on Tuesday, May 5th. Barclays increased their target price on shares of Ziff Davis from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Monday. JPMorgan Chase & Co. reduced their price objective on Ziff Davis from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Evercore restated an “outperform” rating and issued a $46.00 target price on shares of Ziff Davis in a research note on Tuesday, February 24th. Finally, Piper Sandler set a $48.00 price objective on Ziff Davis in a research report on Monday. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Ziff Davis presently has an average rating of “Hold” and a consensus price target of $45.38.

Ziff Davis Stock Up 1.5%

Shares of Ziff Davis stock traded up $0.62 during trading hours on Monday, hitting $41.64. The company had a trading volume of 213,691 shares, compared to its average volume of 912,388. Ziff Davis has a twelve month low of $22.45 and a twelve month high of $50.55. The company has a market cap of $1.58 billion, a P/E ratio of 36.83 and a beta of 1.14. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.66 and a quick ratio of 1.27. The company’s 50-day moving average is $42.48 and its two-hundred day moving average is $37.25.

Ziff Davis (NASDAQ:ZD) last announced its earnings results on Thursday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $267.64 million during the quarter, compared to analysts’ expectations of $264.32 million. Ziff Davis had a return on equity of 12.17% and a net margin of 3.26%.The business’s revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 EPS. Analysts anticipate that Ziff Davis will post 4.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ziff Davis

Several hedge funds and other institutional investors have recently bought and sold shares of ZD. Allianz Asset Management GmbH raised its stake in shares of Ziff Davis by 23.9% during the 3rd quarter. Allianz Asset Management GmbH now owns 239,594 shares of the technology company’s stock worth $9,129,000 after buying an additional 46,282 shares during the last quarter. LSV Asset Management grew its stake in Ziff Davis by 75.6% in the 3rd quarter. LSV Asset Management now owns 772,700 shares of the technology company’s stock valued at $29,440,000 after acquiring an additional 332,674 shares during the last quarter. Invenomic Capital Management LP increased its holdings in Ziff Davis by 86.0% during the 3rd quarter. Invenomic Capital Management LP now owns 408,449 shares of the technology company’s stock valued at $15,562,000 after acquiring an additional 188,844 shares in the last quarter. Range Financial Group LLC acquired a new position in Ziff Davis during the fourth quarter worth about $1,297,000. Finally, Bastion Asset Management Inc. raised its position in Ziff Davis by 92.2% during the third quarter. Bastion Asset Management Inc. now owns 63,950 shares of the technology company’s stock worth $2,423,000 after acquiring an additional 30,679 shares during the last quarter. 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.