Citigroup Issues Pessimistic Forecast for Ziff Davis (NASDAQ:ZD) Stock Price

Ziff Davis (NASDAQ:ZD) had its target price cut by investment analysts at Citigroup from $42.00 to $35.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Citigroup’s price objective points to a potential upside of 8.63% from the stock’s previous close.

A number of other equities research analysts have also weighed in on ZD. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ziff Davis in a research note on Wednesday, October 8th. Barclays lowered their price objective on shares of Ziff Davis from $40.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday. Wall Street Zen upgraded Ziff Davis from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Piper Sandler set a $40.00 target price on Ziff Davis in a research report on Friday, August 8th. Finally, UBS Group lowered their target price on Ziff Davis from $40.00 to $38.00 and set a “neutral” rating for the company in a research note on Monday. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $37.50.

Ziff Davis Trading Down 1.1%

Shares of NASDAQ:ZD traded down $0.37 during trading on Monday, reaching $32.22. 731,343 shares of the company traded hands, compared to its average volume of 550,732. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47. Ziff Davis has a 52-week low of $28.55 and a 52-week high of $60.62. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 21.48 and a beta of 1.61. The business’s fifty day moving average is $36.85 and its 200-day moving average is $34.20.

Ziff Davis (NASDAQ:ZD) last released its quarterly earnings results on Thursday, November 6th. The technology company reported $1.76 earnings per share for the quarter, meeting the consensus estimate of $1.76. The business had revenue of $363.71 million for the quarter, compared to analysts’ expectations of $366.44 million. Ziff Davis had a net margin of 4.57% and a return on equity of 13.91%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.64 earnings per share. Ziff Davis has set its FY 2025 guidance at 6.640-7.28 EPS. As a group, analysts forecast that Ziff Davis will post 5.93 EPS for the current year.

Insiders Place Their Bets

In related news, Director Sarah Ann Fay acquired 1,354 shares of the stock in a transaction on Monday, September 15th. The stock was acquired at an average price of $36.89 per share, for a total transaction of $49,949.06. Following the completion of the purchase, the director owned 23,619 shares of the company’s stock, valued at $871,304.91. This represents a 6.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ziff Davis

Several large investors have recently modified their holdings of the stock. First Horizon Corp bought a new position in Ziff Davis in the 3rd quarter worth about $35,000. Allworth Financial LP increased its stake in Ziff Davis by 149.8% during the 2nd quarter. Allworth Financial LP now owns 1,029 shares of the technology company’s stock valued at $31,000 after purchasing an additional 617 shares in the last quarter. State of Wyoming purchased a new position in Ziff Davis in the first quarter worth about $39,000. TD Private Client Wealth LLC bought a new position in shares of Ziff Davis in the second quarter worth approximately $37,000. Finally, Blue Trust Inc. lifted its stake in shares of Ziff Davis by 30.2% in the third quarter. Blue Trust Inc. now owns 1,273 shares of the technology company’s stock worth $49,000 after buying an additional 295 shares in the last quarter. Hedge funds and other 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.