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

Ziff Davis (NASDAQ:ZD) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 6.430-6.770 for the period, compared to the consensus estimate of 6.600. The company issued revenue guidance of $1.4 billion-$1.5 billion, compared to the consensus revenue estimate of $1.4 billion. Ziff Davis also updated its FY24 guidance to $6.43-6.77 EPS.

Ziff Davis Trading Up 15.6 %

Shares of Ziff Davis stock traded up $7.66 during trading hours on Friday, hitting $56.65. The company’s stock had a trading volume of 1,380,366 shares, compared to its average volume of 381,991. Ziff Davis has a twelve month low of $37.76 and a twelve month high of $70.90. The firm has a fifty day moving average of $47.60 and a 200-day moving average of $49.93. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 34.97 and a beta of 1.29. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.91 and a current ratio of 1.91.

Ziff Davis (NASDAQ:ZD) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.08). Ziff Davis had a net margin of 5.86% and a return on equity of 13.81%. The company had revenue of $320.80 million during the quarter, compared to analysts’ expectations of $332.44 million. During the same quarter in the previous year, the business posted $1.12 EPS. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. Research analysts forecast that Ziff Davis will post 6.1 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ZD shares. Barclays dropped their price target on shares of Ziff Davis from $58.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and set a $95.00 price objective on shares of Ziff Davis in a research note on Friday, September 6th. Finally, Citigroup reduced their price objective on shares of Ziff Davis from $52.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ziff Davis presently has an average rating of “Moderate Buy” and a consensus price target of $71.50.

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.