Citigroup Cuts Ziff Davis (NASDAQ:ZD) Price Target to $29.00

Ziff Davis (NASDAQ:ZD) had its price objective lowered by Citigroup from $35.00 to $29.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. dropped their target price on Ziff Davis from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday. UBS Group lowered their price objective on Ziff Davis from $40.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, November 10th. Zacks Research raised Ziff Davis from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ziff Davis in a research note on Wednesday, January 21st. Finally, Barclays lowered their price target on shares of Ziff Davis from $40.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, November 10th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $37.38.

Ziff Davis Stock Performance

Shares of Ziff Davis stock opened at $27.08 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.27 and a quick ratio of 1.61. The firm has a 50 day simple moving average of $34.41 and a 200 day simple moving average of $35.30. Ziff Davis has a fifty-two week low of $22.45 and a fifty-two week high of $43.54. The firm has a market cap of $1.02 billion, a P/E ratio of 24.62 and a beta of 1.46.

Institutional Investors Weigh In On Ziff Davis

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. raised its holdings in Ziff Davis by 17.8% during the fourth quarter. Invesco Ltd. now owns 225,357 shares of the technology company’s stock worth $7,921,000 after acquiring an additional 34,064 shares in the last quarter. Corient Private Wealth LLC bought a new position in Ziff Davis in the fourth quarter valued at approximately $263,000. Mercer Global Advisors Inc. ADV increased its position in shares of Ziff Davis by 74.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 10,166 shares of the technology company’s stock worth $357,000 after purchasing an additional 4,353 shares during the last quarter. Vident Advisory LLC increased its position in shares of Ziff Davis by 11.4% during the 4th quarter. Vident Advisory LLC now owns 20,265 shares of the technology company’s stock worth $712,000 after purchasing an additional 2,068 shares during the last quarter. Finally, State of Tennessee Department of Treasury raised its stake in shares of Ziff Davis by 20.9% during the 4th quarter. State of Tennessee Department of Treasury now owns 23,675 shares of the technology company’s stock worth $905,000 after purchasing an additional 4,085 shares in the last quarter. 99.76% of the stock is owned by institutional investors.

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.