Ziff Davis (NASDAQ:ZD) Issues FY 2024 Earnings Guidance

Ziff Davis (NASDAQ:ZD) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 6.430-6.770 for the period, compared to the consensus EPS estimate of 6.550. The company issued revenue guidance of $1.4 billion-$1.5 billion, compared to the consensus revenue estimate of $1.4 billion. Ziff Davis also updated its FY24 guidance to $6.43-6.77 EPS.

Ziff Davis Price Performance

ZD stock traded up $0.24 on Wednesday, hitting $39.88. 571,444 shares of the company’s stock traded hands, compared to its average volume of 355,103. Ziff Davis has a 1-year low of $38.90 and a 1-year high of $70.90. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 32.96 and a beta of 1.29. The stock has a fifty day moving average of $51.74 and a 200-day moving average of $57.78. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.53.

Ziff Davis (NASDAQ:ZD) last released its quarterly earnings results on Wednesday, May 8th. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.05. The business had revenue of $314.49 million for the quarter, compared to analyst estimates of $317.71 million. Ziff Davis had a net margin of 4.36% and a return on equity of 14.26%. On average, analysts forecast that Ziff Davis will post 6.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ZD has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised shares of Ziff Davis from a neutral rating to an overweight rating and set a $70.00 price target for the company in a report on Thursday, May 2nd. Wedbush reduced their price target on shares of Ziff Davis from $78.00 to $70.00 and set an outperform rating for the company in a report on Friday, May 10th. Barclays reduced their price target on shares of Ziff Davis from $68.00 to $58.00 and set an equal weight rating for the company in a report on Friday, May 10th. Finally, Citigroup reduced their price target on shares of Ziff Davis from $62.00 to $52.00 and set a neutral rating for the company in a report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $73.88.

About Ziff Davis

Ziff Davis, Inc, together with its subsidiaries, operates as a digital media and internet company in the United States and internationally. The company offers PCMag, an online resource for laboratory-based product reviews, technology news, buying guides, and research papers; Mashable for publishing technology and culture content; Spiceworks Ziff Davis provides digital content of IT products and services; retailMeNot, a savings destination platform; Offers.com, a coupon and deals website; and event-based properties, including BlackFriday.com, TheBlackFriday.com, BestBlackFriday.com, and DealsofAmerica.com.