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 guidance of 6.430-6.770 for the period, compared to the consensus earnings per share 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 Stock Up 15.6 %

NASDAQ:ZD traded up $7.66 during trading hours on Friday, reaching $56.65. 1,380,366 shares of the stock were exchanged, compared to its average volume of 381,991. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.91 and a quick ratio of 1.91. Ziff Davis has a twelve month low of $37.76 and a twelve month high of $70.90. The stock has a market cap of $2.53 billion, a PE ratio of 34.97 and a beta of 1.29. The firm has a 50 day moving average of $47.60 and a 200 day moving average of $49.93.

Ziff Davis (NASDAQ:ZD) last released its earnings results on Wednesday, August 7th. The technology company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.08). The company had revenue of $320.80 million during the quarter, compared to analyst estimates of $332.44 million. Ziff Davis had a net margin of 5.86% and a return on equity of 13.81%. Ziff Davis’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.12 EPS. On average, equities analysts expect that Ziff Davis will post 6.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ZD. Citigroup decreased their price objective on shares of Ziff Davis from $52.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Ziff Davis in a report on Friday, September 6th. Finally, Barclays dropped their target price on Ziff Davis from $58.00 to $44.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Ziff Davis has a consensus rating of “Moderate Buy” and a consensus price target of $71.50.

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.