Zedge (NYSEAMERICAN:ZDGE) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Zedge (NYSEAMERICAN:ZDGE) issued its quarterly earnings results on Wednesday. The company reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.09, Fidelity Earnings reports. Zedge had a return on equity of 31.26% and a net margin of 25.25%.

Shares of ZDGE stock traded down $0.11 on Friday, hitting $15.24. 7,725 shares of the stock were exchanged, compared to its average volume of 388,191. The company has a quick ratio of 4.65, a current ratio of 4.65 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $198.23 million, a price-to-earnings ratio of 59.04 and a beta of 0.99. Zedge has a one year low of $1.10 and a one year high of $16.94. The firm has a 50 day moving average price of $4.24.

Several equities analysts recently weighed in on ZDGE shares. Maxim Group increased their price target on shares of Zedge from $19.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, March 16th. TheStreet upgraded shares of Zedge from a “c+” rating to a “b-” rating in a research note on Thursday, March 18th.

In other Zedge news, CFO Yi Tsai sold 10,000 shares of the stock in a transaction dated Monday, March 22nd. The shares were sold at an average price of $15.35, for a total transaction of $153,500.00. Following the completion of the transaction, the chief financial officer now owns 10,000 shares in the company, valued at $153,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 23.60% of the company’s stock.

An institutional investor recently raised its position in Zedge stock. Morgan Stanley raised its position in Zedge, Inc. (NYSEAMERICAN:ZDGE) by 936.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,555 shares of the company’s stock after purchasing an additional 14,958 shares during the period. Morgan Stanley owned 0.13% of Zedge worth $200,000 at the end of the most recent reporting period. 25.51% of the stock is currently owned by institutional investors.

Zedge Company Profile

Zedge, Inc operates a digital publishing and content platform worldwide. Its platform enables consumers to personalize their mobile devices with ringtones, wallpapers, home screen app icons, widgets, and notification sounds. The company was incorporated in 2008 and is based in New York, New York.

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Earnings History for Zedge (NYSEAMERICAN:ZDGE)

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