JPMorgan Chase & Co. Upgrades Ziff Davis (NASDAQ:ZD) to “Overweight”

Ziff Davis (NASDAQ:ZD) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Thursday, Marketbeat.com reports. The brokerage currently has a $70.00 price objective on the technology company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 29.92% from the company’s current price.

Several other research firms have also commented on ZD. Barclays raised their price target on shares of Ziff Davis from $66.00 to $68.00 and gave the company an “equal weight” rating in a report on Friday, February 23rd. Wedbush increased their price target on Ziff Davis from $75.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. UBS Group decreased their price objective on shares of Ziff Davis from $77.00 to $76.00 and set a “neutral” rating for the company in a report on Tuesday, March 5th. Royal Bank of Canada restated an “outperform” rating and set a $95.00 price objective on shares of Ziff Davis in a research note on Friday, February 23rd. Finally, Evercore ISI raised their price target on shares of Ziff Davis from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.57.

Ziff Davis Stock Performance

Ziff Davis stock opened at $53.88 on Thursday. The stock has a fifty day moving average price of $59.72 and a 200 day moving average price of $63.25. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 0.53. Ziff Davis has a 52 week low of $49.50 and a 52 week high of $75.58. The firm has a market capitalization of $2.49 billion, a P/E ratio of 65.71 and a beta of 1.24.

Ziff Davis (NASDAQ:ZD) last released its earnings results on Wednesday, February 21st. The technology company reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.02. Ziff Davis had a net margin of 3.04% and a return on equity of 13.97%. The business had revenue of $389.89 million for the quarter, compared to analysts’ expectations of $400.71 million. Equities research analysts anticipate that Ziff Davis will post 6.23 earnings per share for the current year.

Insider Activity at Ziff Davis

In other news, EVP Jeremy Rossen sold 4,162 shares of Ziff Davis stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $69.43, for a total transaction of $288,967.66. Following the transaction, the executive vice president now directly owns 7,261 shares in the company, valued at approximately $504,131.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.08% of the company’s stock.

Hedge Funds Weigh In On Ziff Davis

Several hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp raised its stake in Ziff Davis by 337.5% during the 3rd quarter. Fifth Third Bancorp now owns 490 shares of the technology company’s stock valued at $31,000 after purchasing an additional 378 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Ziff Davis by 362.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 513 shares of the technology company’s stock worth $34,000 after purchasing an additional 402 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new position in Ziff Davis during the fourth quarter valued at about $34,000. Headinvest LLC bought a new position in shares of Ziff Davis in the third quarter valued at approximately $44,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of Ziff Davis by 32.2% in the fourth quarter. First Horizon Advisors Inc. now owns 686 shares of the technology company’s stock worth $46,000 after buying an additional 167 shares during the last quarter. Institutional investors and hedge funds 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.