Ziff Davis, Inc. (NASDAQ:ZD – Get Rating)’s share price reached a new 52-week low during trading on Friday after Wedbush lowered their price target on the stock from $93.00 to $80.00. The stock traded as low as $62.40 and last traded at $62.99, with a volume of 86787 shares trading hands. The stock had previously closed at $63.75.
Several other equities analysts also recently commented on the company. TheStreet downgraded Ziff Davis from a “b-” rating to a “c” rating in a research report on Tuesday. Citigroup cut their price target on Ziff Davis from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, February 17th. Finally, Barclays cut their price target on Ziff Davis from $85.00 to $75.00 in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.50.
Institutional Investors Weigh In On Ziff Davis
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Ziff Davis in the 1st quarter valued at $507,186,000. Vanguard Group Inc. increased its holdings in Ziff Davis by 1.5% in the third quarter. Vanguard Group Inc. now owns 4,496,027 shares of the technology company’s stock valued at $307,887,000 after purchasing an additional 65,736 shares during the period. FMR LLC increased its holdings in Ziff Davis by 18.4% in the first quarter. FMR LLC now owns 3,100,674 shares of the technology company’s stock valued at $242,008,000 after purchasing an additional 481,473 shares during the period. Nordea Investment Management AB increased its holdings in Ziff Davis by 1.0% in the fourth quarter. Nordea Investment Management AB now owns 1,673,846 shares of the technology company’s stock valued at $132,594,000 after purchasing an additional 16,059 shares during the period. Finally, State Street Corp grew its holdings in Ziff Davis by 1.1% during the 3rd quarter. State Street Corp now owns 1,557,789 shares of the technology company’s stock worth $106,677,000 after acquiring an additional 16,999 shares during the period. 99.11% of the stock is currently owned by institutional investors.
Ziff Davis Stock Performance
The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.51 and a current ratio of 2.51. The stock has a fifty day simple moving average of $74.11 and a two-hundred day simple moving average of $80.53. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 109.91 and a beta of 1.16.
Ziff Davis (NASDAQ:ZD – Get Rating) last issued its quarterly earnings results on Wednesday, February 15th. The technology company reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.22). Ziff Davis had a return on equity of 15.76% and a net margin of 4.58%. The business had revenue of $396.70 million for the quarter, compared to analyst estimates of $400.54 million. Analysts forecast that Ziff Davis, Inc. will post 5.79 earnings per share for the current fiscal year.
Ziff Davis Company Profile
Ziff Davis, Inc is a digital media and internet company. It operates through the following segments: Digital Media and Cybersecurity and Martech. The Digital Media segment consists of a portfolio of web properties and apps which include IGN, RetailMeNot, Mashable, PCMag, Humble Bundle,Speedtest, Offers, Black Friday, MedPageToday, Everyday Health, BabyCenter and What to Expect, among others.