Ziff Davis (NASDAQ:ZD) PT Lowered to $52.00

Ziff Davis (NASDAQ:ZD) had its price objective reduced by Citigroup from $62.00 to $52.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Citigroup’s target price would indicate a potential upside of 9.11% from the company’s previous close.

A number of other brokerages also recently issued reports on ZD. Wedbush lowered their price objective on Ziff Davis from $78.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. JPMorgan Chase & Co. upgraded Ziff Davis from a “neutral” rating to an “overweight” rating and set a $70.00 price objective on the stock in a research report on Thursday, May 2nd. Finally, Barclays lowered their price objective on Ziff Davis from $68.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.88.

Ziff Davis Stock Performance

Shares of NASDAQ:ZD traded up $1.15 during trading on Thursday, hitting $47.66. 376,247 shares of the company were exchanged, compared to its average volume of 335,972. The company has a market cap of $2.20 billion, a PE ratio of 39.40 and a beta of 1.29. The stock has a 50 day moving average of $55.02 and a 200 day moving average of $60.48. Ziff Davis has a 52-week low of $44.11 and a 52-week high of $75.58. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.95 and a quick ratio of 1.95.

Ziff Davis (NASDAQ:ZD) last issued its quarterly earnings data on Wednesday, May 8th. The technology company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.05. Ziff Davis had a return on equity of 14.26% and a net margin of 4.36%. The company had revenue of $314.49 million for the quarter, compared to the consensus estimate of $317.71 million. As a group, equities research analysts predict that Ziff Davis will post 6.09 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ZD. Assenagon Asset Management S.A. boosted its holdings in shares of Ziff Davis by 60.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 46,171 shares of the technology company’s stock worth $3,102,000 after purchasing an additional 17,379 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Ziff Davis during the fourth quarter worth about $1,257,000. Retirement Systems of Alabama boosted its holdings in shares of Ziff Davis by 63.6% during the first quarter. Retirement Systems of Alabama now owns 296,572 shares of the technology company’s stock worth $18,696,000 after purchasing an additional 115,258 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Ziff Davis by 8.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,693,227 shares of the technology company’s stock worth $113,771,000 after buying an additional 136,220 shares during the period. Finally, Signaturefd LLC lifted its holdings in Ziff Davis by 86.2% in the fourth quarter. Signaturefd LLC now owns 996 shares of the technology company’s stock worth $67,000 after buying an additional 461 shares during the period. Institutional investors own 99.76% of the company’s stock.

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.