Ziff Davis (NASDAQ:ZD) Issues Quarterly Earnings Results

Ziff Davis (NASDAQ:ZD) issued its earnings results on Wednesday. The technology company reported $1.18 earnings per share (EPS) 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 analysts’ expectations of $332.44 million. Ziff Davis had a net margin of 4.36% and a return on equity of 14.26%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the business posted $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 Trading Up 0.8 %

Shares of NASDAQ:ZD traded up $0.34 during trading on Friday, reaching $41.30. The stock had a trading volume of 429,439 shares, compared to its average volume of 358,241. 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 cap of $1.91 billion, a P/E ratio of 34.13 and a beta of 1.29. The business has a fifty day moving average price of $51.09 and a 200-day moving average price of $57.39. Ziff Davis has a fifty-two week low of $37.76 and a fifty-two week high of $70.90.

Analyst Ratings Changes

Several equities analysts recently issued reports on ZD shares. 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 report on Thursday, May 2nd. Barclays dropped their price target 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 lowered their price objective on shares of Ziff Davis from $52.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Wedbush cut their target price on shares of Ziff Davis from $78.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.