Ziff Davis (NASDAQ:ZD) Releases FY24 Earnings Guidance

Ziff Davis (NASDAQ:ZD) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $6.43-6.77 for the period, compared to the consensus earnings per share estimate of $6.63. The company issued revenue guidance of $1.411-1.471 billion, compared to the consensus revenue estimate of $1.42 billion. Ziff Davis also updated its FY 2024 guidance to 6.430-6.770 EPS.

Wall Street Analysts Forecast Growth

ZD has been the topic of several research analyst reports. Barclays decreased 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 report on Friday, August 9th. Citigroup decreased their target price on Ziff Davis from $52.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price target on shares of Ziff Davis in a report on Friday, September 6th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Ziff Davis presently has an average rating of “Moderate Buy” and a consensus target price of $71.50.

Ziff Davis Stock Up 15.6 %

Shares of ZD opened at $56.65 on Friday. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average price of $47.60 and a two-hundred day moving average price 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. Ziff Davis has a 12 month low of $37.76 and a 12 month high of $70.90.

Ziff Davis (NASDAQ:ZD) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.18 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 analyst estimates of $332.44 million. During the same period in the prior year, the firm earned $1.12 EPS. Ziff Davis’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities analysts predict that Ziff Davis will post 6.1 EPS for the current fiscal year.

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.