Citigroup Has Lowered Expectations for Ziff Davis (NASDAQ:ZD) Stock Price

by · The Markets Daily

Ziff Davis (NASDAQ:ZD – Get Free Report) had its price target dropped by Citigroup from $52.00 to $35.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Citigroup’s target price indicates a potential upside of 13.09% from the stock’s current price.

Several other equities analysts also recently commented on the company. JPMorgan Chase & Co. downgraded Ziff Davis from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $60.00 to $33.00 in a report on Tuesday, April 22nd. UBS Group lowered their target price on shares of Ziff Davis from $65.00 to $56.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Ziff Davis currently has a consensus rating of “Hold” and an average target price of $58.33.

Get Our Latest Analysis on ZD

Ziff Davis Stock Performance

Shares of ZD opened at $30.95 on Friday. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 26.23 and a beta of 1.47. The company’s fifty day moving average is $38.02 and its 200-day moving average is $48.15. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.49. Ziff Davis has a 12 month low of $29.34 and a 12 month high of $60.62.

Insider Activity

In other news, CFO Bret Richter acquired 2,500 shares of the stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $39.21 per share, for a total transaction of $98,025.00. Following the completion of the transaction, the chief financial officer now owns 16,339 shares in the company, valued at approximately $640,652.19. This trade represents a 18.06 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director W Brian Kretzmer bought 653 shares of Ziff Davis stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average cost of $38.33 per share, with a total value of $25,029.49. Following the completion of the transaction, the director now owns 12,968 shares of the company’s stock, valued at $497,063.44. This trade represents a 5.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 5,028 shares of company stock valued at $198,024. 2.16% of the stock is owned by company insiders.

Institutional Trading of Ziff Davis

Several institutional investors have recently made changes to their positions in ZD. GAMMA Investing LLC raised its stake in Ziff Davis by 148.4% during the first quarter. GAMMA Investing LLC now owns 713 shares of the technology company’s stock worth $27,000 after acquiring an additional 426 shares in the last quarter. Millstone Evans Group LLC bought a new stake in shares of Ziff Davis in the 4th quarter worth about $35,000. Quadrant Capital Group LLC increased its position in shares of Ziff Davis by 278.9% during the 4th quarter. Quadrant Capital Group LLC now owns 663 shares of the technology company’s stock worth $36,000 after purchasing an additional 488 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Ziff Davis during the 3rd quarter valued at about $37,000. Finally, Summit Securities Group LLC acquired a new position in Ziff Davis in the fourth quarter valued at about $37,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

About Ziff Davis

(Get Free Report)

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.

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