Ziff Davis (NASDAQ:ZD) Announces Earnings Results

Ziff Davis (NASDAQ:ZD) posted its quarterly earnings results on Wednesday. The technology company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.08), Briefing.com reports. The company had revenue of $320.80 million during the quarter, compared to the consensus estimate of $332.44 million. Ziff Davis had a net margin of 4.36% and a return on equity of 14.26%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.12 earnings per share. Ziff Davis updated its FY24 guidance to $6.43-6.77 EPS and its FY 2024 guidance to 6.430-6.770 EPS.

Ziff Davis Price Performance

Shares of ZD traded up $0.34 during midday trading on Friday, hitting $41.30. The company’s stock had a trading volume of 429,439 shares, compared to its average volume of 358,241. Ziff Davis has a one year low of $37.76 and a one year high of $70.90. The company’s fifty day simple moving average is $51.09 and its two-hundred day simple moving average is $57.39. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 34.13 and a beta of 1.29.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ZD shares. Wedbush decreased their price target on Ziff Davis from $78.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Barclays cut their price objective on Ziff Davis from $58.00 to $44.00 and set an “equal weight” rating for the company in a research report on Friday. Citigroup cut their price objective on Ziff Davis from $52.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday. Finally, JPMorgan Chase & Co. raised Ziff Davis from a “neutral” rating to an “overweight” rating and set a $70.00 price objective for the company in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.50.

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.