Ziff Davis (NASDAQ:ZD) Sets New 12-Month High on Analyst Upgrade

Ziff Davis, Inc. (NASDAQ:ZD) shares reached a new 52-week high during trading on Tuesday after Zacks Research upgraded the stock to a hold rating. The stock traded as high as $58.21 and last traded at $58.3150, with a volume of 221413 shares changing hands. The stock had previously closed at $57.35.

A number of other analysts have also commented on ZD. Weiss Ratings upgraded Ziff Davis from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Evercore reiterated an “outperform” rating and set a $64.00 target price on shares of Ziff Davis in a research report on Monday, August 10th. Royal Bank Of Canada upped their price objective on Ziff Davis from $48.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Susquehanna upped their price target on Ziff Davis from $60.00 to $75.00 and gave the company a “positive” rating in a research note on Monday, August 10th. Finally, UBS Group increased their target price on shares of Ziff Davis from $30.00 to $59.00 and gave the stock a “neutral” rating in a report on Wednesday, August 12th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $59.75.

Insider Buying and Selling at Ziff Davis

In other news, CAO Lori Tansley sold 1,400 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $54.76, for a total value of $76,664.00. Following the completion of the transaction, the chief accounting officer owned 767 shares in the company, valued at $42,000.92. This trade represents a 64.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director W. Brian Kretzmer sold 2,513 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $55.31, for a total value of $138,994.03. Following the completion of the sale, the director directly owned 20,000 shares of the company’s stock, valued at approximately $1,106,200. The trade was a 11.16% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 7,732 shares of company stock worth $425,436. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ZD. Tidal Investments LLC bought a new position in Ziff Davis during the 2nd quarter worth $228,000. Integrated Wealth Concepts LLC bought a new stake in shares of Ziff Davis during the 2nd quarter valued at $58,000. Varde Management L.P. grew its holdings in shares of Ziff Davis by 16.9% during the 2nd quarter. Varde Management L.P. now owns 624,028 shares of the technology company’s stock worth $32,680,000 after purchasing an additional 90,000 shares in the last quarter. Nykredit A S acquired a new stake in shares of Ziff Davis during the 2nd quarter worth $68,000. Finally, Corient Private Wealth LP bought a new position in shares of Ziff Davis in the second quarter worth $2,978,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Ziff Davis Stock Down 0.8%

The company has a market cap of $2.01 billion, a P/E ratio of 3.32 and a beta of 1.09. The stock has a 50-day moving average of $54.49 and a 200 day moving average of $48.05. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.16 and a quick ratio of 2.16.

Ziff Davis (NASDAQ:ZD) last posted its quarterly earnings data on Thursday, August 6th. The technology company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.22. Ziff Davis had a net margin of 48.57% and a return on equity of 10.73%. The business had revenue of $286.74 million during the quarter, compared to analysts’ expectations of $286.10 million. During the same quarter in the prior year, the business posted $1.24 earnings per share. Ziff Davis’s revenue was down 18.7% compared to the same quarter last year. Research analysts anticipate that Ziff Davis, Inc. will post 4.26 earnings per share for the current year.

Ziff Davis Company Profile

Ziff Davis, Inc is a digital media and technology company that operates a portfolio of internet-based brands serving consumers and businesses. Its properties provide technology news and reviews, gaming and entertainment content, health and wellness information, shopping resources, and specialized business media.

The company’s brands include PCMag, IGN, Mashable, Lifehacker, RetailMeNot, Humble Bundle, Spiceworks, Ookla and Speedtest, among others. Ziff Davis also offers cybersecurity, marketing technology and consumer subscription services, including products and platforms designed to support privacy, online security, connectivity testing and digital engagement.

Ziff Davis traces its roots to the publishing company founded by William B.