Ziff Davis (NASDAQ:ZD) Updates FY 2024 Earnings Guidance

Ziff Davis (NASDAQ:ZD) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 6.430-6.770 for the period, compared to the consensus earnings per share estimate of 6.580. The company issued revenue guidance of $1.4 billion-$1.5 billion, compared to the consensus revenue estimate of $1.4 billion.

Ziff Davis Stock Performance

NASDAQ:ZD traded down $0.91 during trading hours on Wednesday, hitting $54.48. 463,142 shares of the company traded hands, compared to its average volume of 307,509. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 66.44 and a beta of 1.24. Ziff Davis has a twelve month low of $49.50 and a twelve month high of $75.58. The firm has a 50-day moving average of $59.16 and a 200 day moving average of $63.14. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 0.53.

Ziff Davis (NASDAQ:ZD) last announced its earnings results on Wednesday, February 21st. The technology company reported $2.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.02. The company had revenue of $389.89 million for the quarter, compared to analyst estimates of $400.71 million. Ziff Davis had a net margin of 3.04% and a return on equity of 13.97%. On average, analysts forecast that Ziff Davis will post 6.23 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ZD shares. Barclays upped their price objective on shares of Ziff Davis from $66.00 to $68.00 and gave the stock an equal weight rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. raised shares of Ziff Davis from a neutral rating to an overweight rating and set a $70.00 target price for the company in a research report on Thursday, May 2nd. UBS Group decreased their target price on shares of Ziff Davis from $77.00 to $76.00 and set a neutral rating for the company in a research report on Tuesday, March 5th. Evercore ISI raised their price objective on shares of Ziff Davis from $75.00 to $80.00 and gave the stock an outperform rating in a research report on Friday, February 23rd. Finally, Wedbush lifted their price target on shares of Ziff Davis from $75.00 to $78.00 and gave the company an outperform rating in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $79.57.

Insider Activity

In related news, EVP Jeremy Rossen sold 4,162 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $69.43, for a total transaction of $288,967.66. Following the completion of the transaction, the executive vice president now owns 7,261 shares in the company, valued at approximately $504,131.23. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.33% of the company’s stock.

Ziff Davis Company Profile

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.