Zedge (NYSEAMERICAN:ZDGE) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Zedge (NYSEAMERICAN:ZDGE) to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

Zedge Price Performance

Shares of Zedge stock opened at $3.01 on Monday. Zedge has a one year low of $2.21 and a one year high of $4.89. The firm has a market capitalization of $37.75 million, a price-to-earnings ratio of -33.44 and a beta of 1.26. The business has a 50-day simple moving average of $3.10 and a 200 day simple moving average of $3.12.

Zedge (NYSEAMERICAN:ZDGE) last issued its earnings results on Thursday, June 11th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Zedge had a positive return on equity of 11.18% and a negative net margin of 3.62%.The business had revenue of $7.99 million during the quarter, compared to analyst estimates of $7.00 million. On average, sell-side analysts expect that Zedge will post 0.31 EPS for the current year.

Zedge Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Monday, June 22nd. Zedge’s payout ratio is currently -11.94%.

Institutional Trading of Zedge

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in Zedge during the 2nd quarter worth approximately $40,000. Squarepoint Ops LLC bought a new stake in Zedge during the 3rd quarter worth approximately $37,000. Arrowstreet Capital Limited Partnership bought a new stake in Zedge during the 3rd quarter worth approximately $87,000. Goldman Sachs Group Inc. increased its holdings in Zedge by 35.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 42,029 shares of the company’s stock worth $138,000 after purchasing an additional 11,022 shares in the last quarter. Finally, NewEdge Advisors LLC bought a new stake in Zedge during the 2nd quarter worth approximately $191,000. 29.37% of the stock is owned by institutional investors.

Zedge News Roundup

Here are the key news stories impacting Zedge this week:

• Positive Sentiment: Maxim Group’s forecast implies Zedge could remain profitable over the next several years, with EPS estimates of $0.31 for FY2026, $0.27 for FY2027, and $0.28 for FY2028.
• Neutral Sentiment: The firm also outlined quarterly estimates for 2027 and 2028, suggesting relatively steady but not rapidly accelerating earnings expectations.
• Negative Sentiment: The analyst updates did not raise estimates or signal an upside surprise, which may have disappointed investors looking for stronger growth momentum in Zedge’s earnings outlook.

About Zedge

Zedge, Inc (NYSE American: ZDGE) is a digital media and technology company that operates a mobile personalization platform. Through its flagship Zedge app and website, the company provides consumers with a wide range of downloadable digital content, including wallpapers, ringtones, notification sounds, app icons and lock screens. The platform accommodates both free and premium content, enabling users to customize their smartphones and tablets according to personal taste.

The company’s platform features content created by independent designers and established media brands, and it supports multiple languages and regional preferences.