Ziff Davis (NASDAQ:ZD) Price Target Cut to $60.00 by Analysts at JPMorgan Chase & Co.

Ziff Davis (NASDAQ:ZD) had its price target cut by equities research analysts at JPMorgan Chase & Co. from $70.00 to $60.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 33.93% from the company’s previous close.

Several other analysts have also commented on ZD. UBS Group decreased their price target on shares of Ziff Davis from $76.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, December 3rd. Barclays raised their target price on Ziff Davis from $44.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, Citigroup reduced their price target on shares of Ziff Davis from $58.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.17.

Ziff Davis Stock Down 5.7 %

Ziff Davis stock traded down $2.70 during mid-day trading on Wednesday, hitting $44.80. The company had a trading volume of 272,370 shares, compared to its average volume of 327,044. The stock’s 50 day moving average price is $53.54 and its two-hundred day moving average price is $51.40. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.49. Ziff Davis has a 12 month low of $37.76 and a 12 month high of $70.02. The company has a market capitalization of $1.91 billion, a PE ratio of 38.01 and a beta of 1.36.

Institutional Investors Weigh In On Ziff Davis

Hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. raised its position in shares of Ziff Davis by 100,954.3% in the fourth quarter. Pacer Advisors Inc. now owns 1,267,221 shares of the technology company’s stock valued at $68,861,000 after buying an additional 1,265,967 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Ziff Davis by 369.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 434,779 shares of the technology company’s stock worth $23,626,000 after acquiring an additional 342,207 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Ziff Davis by 8.5% in the fourth quarter. Janus Henderson Group PLC now owns 3,487,495 shares of the technology company’s stock valued at $189,512,000 after buying an additional 272,895 shares during the period. Legal & General Group Plc lifted its stake in Ziff Davis by 12.4% in the fourth quarter. Legal & General Group Plc now owns 2,425,947 shares of the technology company’s stock valued at $131,826,000 after buying an additional 267,436 shares during the period. Finally, CDAM UK Ltd boosted its holdings in Ziff Davis by 16.6% in the fourth quarter. CDAM UK Ltd now owns 1,492,860 shares of the technology company’s stock worth $81,122,000 after acquiring an additional 213,071 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

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.