Ziff Davis (NASDAQ:ZD) Issues FY 2024 Earnings Guidance

Ziff Davis (NASDAQ:ZD) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 6.430-6.770 for the period, compared to the consensus earnings per share estimate of 6.580. The company issued revenue guidance of $1.4 billion-$1.5 billion, compared to the consensus revenue estimate of $1.4 billion.

Ziff Davis Stock Down 1.6 %

Shares of NASDAQ:ZD traded down $0.91 during midday trading on Wednesday, hitting $54.48. The stock had a trading volume of 463,142 shares, compared to its average volume of 307,509. The business’s 50-day simple moving average is $59.16 and its 200-day simple moving average is $63.14. Ziff Davis has a 12 month low of $49.50 and a 12 month high of $75.58. The company has a market cap of $2.51 billion, a P/E ratio of 66.44 and a beta of 1.24. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.53.

Ziff Davis (NASDAQ:ZD) last released its quarterly earnings data on Wednesday, February 21st. The technology company reported $2.19 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.02. Ziff Davis had a net margin of 3.04% and a return on equity of 13.97%. The firm had revenue of $389.89 million during the quarter, compared to analysts’ expectations of $400.71 million. On average, sell-side analysts forecast that Ziff Davis will post 6.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ZD shares. Royal Bank of Canada reaffirmed an outperform rating and issued a $95.00 price target on shares of Ziff Davis in a research note on Friday, February 23rd. Wedbush boosted their price target on Ziff Davis from $75.00 to $78.00 and gave the stock an outperform rating in a report on Friday, February 23rd. Barclays upped their target price on Ziff Davis from $66.00 to $68.00 and gave the company an equal weight rating in a report on Friday, February 23rd. Evercore ISI boosted their price target on Ziff Davis from $75.00 to $80.00 and gave the company an outperform rating in a research note on Friday, February 23rd. Finally, UBS Group dropped their price target on Ziff Davis from $77.00 to $76.00 and set a neutral rating on the stock in a research note on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $79.57.

Insider Buying and Selling at Ziff Davis

In other news, EVP Jeremy Rossen sold 4,162 shares of the 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 completion of the transaction, the executive vice president now owns 7,261 shares in the company, valued at approximately $504,131.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.33% of the company’s stock.

Ziff Davis Company Profile

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.