Citigroup Boosts Ziff Davis (NASDAQ:ZD) Price Target to $48.00

Ziff Davis (NASDAQ:ZD) had its price objective lifted by stock analysts at Citigroup from $29.00 to $48.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Citigroup’s price objective indicates a potential upside of 13.61% from the stock’s previous close.

ZD has been the topic of several other research reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $40.00 target price on shares of Ziff Davis in a report on Tuesday, February 24th. Evercore reiterated an “outperform” rating and issued a $46.00 price target on shares of Ziff Davis in a report on Tuesday, February 24th. Zacks Research upgraded shares of Ziff Davis from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Wall Street Zen lowered Ziff Davis from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Barclays lifted their target price on Ziff Davis from $34.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $41.13.

Ziff Davis Price Performance

NASDAQ ZD traded down $1.40 during trading hours on Friday, reaching $42.25. The company’s stock had a trading volume of 313,680 shares, compared to its average volume of 1,073,703. Ziff Davis has a 1 year low of $22.45 and a 1 year high of $50.55. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 38.41 and a beta of 1.50. The firm’s 50-day moving average price is $34.71 and its 200-day moving average price is $35.38.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its stake in Ziff Davis by 260.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 597,573 shares of the technology company’s stock worth $21,005,000 after acquiring an additional 431,828 shares during the last quarter. LSV Asset Management lifted its stake in shares of Ziff Davis by 313.8% in the 2nd quarter. LSV Asset Management now owns 440,026 shares of the technology company’s stock valued at $13,320,000 after purchasing an additional 333,680 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Ziff Davis by 9.0% in the 2nd quarter. Legal & General Group Plc now owns 2,669,113 shares of the technology company’s stock worth $80,794,000 after purchasing an additional 221,445 shares during the period. Invenomic Capital Management LP increased its position in shares of Ziff Davis by 86.0% during the 3rd quarter. Invenomic Capital Management LP now owns 408,449 shares of the technology company’s stock valued at $15,562,000 after purchasing an additional 188,844 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Ziff Davis by 88.5% during the 4th quarter. AQR Capital Management LLC now owns 399,259 shares of the technology company’s stock valued at $14,034,000 after buying an additional 187,431 shares during the period. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Ziff Davis Company Profile

Ziff Davis, Inc is a digital media and internet company that operates a diverse portfolio of online brands, subscription-based services and performance marketing platforms. The company specializes in technology publishing and digital marketing solutions, offering content, reviews and insights tailored to consumer and enterprise audiences. Ziff Davis’s flagship media properties include PCMag, which provides expert reviews and comparisons of consumer electronics and software, as well as IGN, a leading destination for gaming news, reviews and entertainment coverage.

Founded in 1927 by William B.