Ziff Davis (NASDAQ:ZD – Get Free Report) had its target price upped by Royal Bank Of Canada from $48.00 to $65.00 in a research note issued 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 20.59% from the stock’s previous close.
A number of other research firms have also recently weighed in on ZD. Piper Sandler set a $48.00 price objective on shares of Ziff Davis in a research report on Monday, May 11th. Weiss Ratings raised shares of Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Susquehanna upped their price target on shares of Ziff Davis from $60.00 to $75.00 and gave the company a “positive” rating in a report on Monday. Zacks Research lowered shares of Ziff Davis from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Finally, Citigroup increased their price objective on shares of Ziff Davis from $48.00 to $59.00 and gave the stock a “neutral” rating in a research report on Monday. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ziff Davis presently has an average rating of “Hold” and a consensus price target of $53.00.
Check Out Our Latest Analysis on Ziff Davis
Ziff Davis Trading Up 0.1%
Ziff Davis (NASDAQ:ZD – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.22. The company had revenue of $286.74 million for the quarter, compared to analyst estimates of $286.10 million. Ziff Davis had a return on equity of 10.73% and a net margin of 48.57%.Ziff Davis’s quarterly revenue was down 18.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.24 EPS.
Insider Buying and Selling at Ziff Davis
In other Ziff Davis news, Director Kirk P. Mcdonald sold 1,075 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $46.65, for a total value of $50,148.75. Following the sale, the director owned 13,468 shares in the company, valued at $628,282.20. This trade represents a 7.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jeremy Rossen sold 8,000 shares of Ziff Davis stock in a transaction on Friday, June 5th. The stock was sold at an average price of $47.00, for a total value of $376,000.00. Following the sale, the executive vice president owned 14,462 shares of the company’s stock, valued at approximately $679,714. This trade represents a 35.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 31,422 shares of company stock valued at $1,468,864 in the last quarter. 3.40% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in ZD. Pale Fire Capital SE lifted its stake in Ziff Davis by 130.0% in the first quarter. Pale Fire Capital SE now owns 2,783,366 shares of the technology company’s stock worth $116,790,000 after acquiring an additional 1,573,414 shares during the period. First Trust Advisors LP increased its position in Ziff Davis by 689.6% during the 1st quarter. First Trust Advisors LP now owns 974,591 shares of the technology company’s stock valued at $40,894,000 after purchasing an additional 851,163 shares during the period. Rice Hall James & Associates LLC purchased a new position in Ziff Davis during the 2nd quarter valued at about $43,022,000. Goldman Sachs Group Inc. raised its holdings in shares of Ziff Davis by 260.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 597,573 shares of the technology company’s stock valued at $21,005,000 after purchasing an additional 431,828 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Ziff Davis in the 2nd quarter worth approximately $16,361,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.
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.
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