Ziff Davis (NASDAQ:ZD) Price Target Cut to $47.00

Ziff Davis (NASDAQ:ZD) had its target price cut by Citigroup from $52.00 to $47.00 in a research report released on Friday morning, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

ZD has been the subject of several other research 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 research note on Thursday, May 2nd. Barclays dropped their price objective on Ziff Davis from $58.00 to $44.00 and set an equal weight rating on the stock in a report on Friday. Finally, Wedbush decreased their target price on Ziff Davis from $78.00 to $70.00 and set an outperform rating for the company in a research note on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $71.50.

Ziff Davis Stock Performance

NASDAQ ZD traded up $0.34 on Friday, reaching $41.30. 429,439 shares of the company’s stock traded hands, compared to its average volume of 358,241. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 34.13 and a beta of 1.29. The stock has a 50 day moving average price of $51.09 and a 200-day moving average price of $57.39. Ziff Davis has a fifty-two week low of $37.76 and a fifty-two week high of $70.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.95 and a current ratio of 1.95.

Ziff Davis (NASDAQ:ZD) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.08). The firm had revenue of $320.80 million during the quarter, compared to analyst estimates of $332.44 million. Ziff Davis had a return on equity of 14.26% and a net margin of 4.36%. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company posted $1.12 EPS. Equities research analysts predict that Ziff Davis will post 6.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Ziff Davis

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rothschild Investment LLC acquired a new position in Ziff Davis during the 2nd quarter worth approximately $25,000. OLD Point Trust & Financial Services N A acquired a new position in Ziff Davis during the 4th quarter worth approximately $34,000. EverSource Wealth Advisors LLC grew its holdings in shares of Ziff Davis by 362.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 513 shares of the technology company’s stock worth $34,000 after acquiring an additional 402 shares during the period. First Horizon Advisors Inc. grew its holdings in shares of Ziff Davis by 32.2% in the 4th quarter. First Horizon Advisors Inc. now owns 686 shares of the technology company’s stock worth $46,000 after acquiring an additional 167 shares during the period. Finally, Quest Partners LLC acquired a new stake in shares of Ziff Davis in the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

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.