Ziff Davis (NASDAQ:ZD) Price Target Cut to $35.00 by Analysts at Citigroup

Ziff Davis (NASDAQ:ZD) had its target price cut by research analysts at Citigroup from $42.00 to $35.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Citigroup’s price target would indicate a potential upside of 8.63% from the company’s current price.

A number of other brokerages also recently weighed in on ZD. Weiss Ratings restated a “sell (d)” rating on shares of Ziff Davis in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Ziff Davis from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. UBS Group dropped their target price on shares of Ziff Davis from $40.00 to $38.00 and set a “neutral” rating on the stock in a report on Monday. Piper Sandler set a $40.00 price target on Ziff Davis in a report on Friday, August 8th. Finally, Barclays lowered their price target on Ziff Davis from $40.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $37.50.

Ziff Davis Stock Down 1.1%

Shares of NASDAQ:ZD traded down $0.37 during midday trading on Monday, reaching $32.22. The company had a trading volume of 731,343 shares, compared to its average volume of 550,732. The business’s 50 day moving average price is $36.85 and its 200 day moving average price is $34.20. Ziff Davis has a 1-year low of $28.55 and a 1-year high of $60.62. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1.32 billion, a PE ratio of 21.48 and a beta of 1.61.

Ziff Davis (NASDAQ:ZD) last posted its quarterly earnings results on Thursday, November 6th. The technology company reported $1.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.76. The firm had revenue of $363.71 million during the quarter, compared to the consensus estimate of $366.44 million. Ziff Davis had a return on equity of 13.91% and a net margin of 4.57%.The business’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company earned $1.64 earnings per share. Ziff Davis has set its FY 2025 guidance at 6.640-7.28 EPS. Research analysts forecast that Ziff Davis will post 5.93 EPS for the current fiscal year.

Insider Activity at Ziff Davis

In other Ziff Davis news, Director Sarah Ann Fay acquired 1,354 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were bought at an average price of $36.89 per share, for a total transaction of $49,949.06. Following the completion of the transaction, the director owned 23,619 shares of the company’s stock, valued at approximately $871,304.91. This represents a 6.08% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ziff Davis

Institutional investors have recently modified their holdings of the company. Nuveen LLC bought a new position in Ziff Davis during the first quarter valued at approximately $25,381,000. LSV Asset Management boosted its stake in shares of Ziff Davis by 313.8% in the 2nd quarter. LSV Asset Management now owns 440,026 shares of the technology company’s stock valued at $13,320,000 after purchasing an additional 333,680 shares in the last quarter. Pale Fire Capital SE purchased a new stake in shares of Ziff Davis in the 1st quarter valued at $9,370,000. Legal & General Group Plc grew its holdings in shares of Ziff Davis by 9.0% during the 2nd quarter. Legal & General Group Plc now owns 2,669,113 shares of the technology company’s stock valued at $80,794,000 after purchasing an additional 221,445 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Ziff Davis by 206.0% in the 2nd quarter. AQR Capital Management LLC now owns 251,781 shares of the technology company’s stock worth $7,621,000 after purchasing an additional 169,505 shares during the period. 99.76% of the stock is currently owned by institutional investors.

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.