Ziff Davis (NASDAQ:ZD) Price Target Cut to $52.00 by Analysts at Citigroup

Ziff Davis (NASDAQ:ZD) had its price target cut by Citigroup from $58.00 to $52.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Citigroup’s price target indicates a potential upside of 16.06% from the stock’s previous close.

Several other research analysts have also recently issued reports on ZD. UBS Group cut their target price on Ziff Davis from $76.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 3rd. Barclays lifted their price objective on shares of Ziff Davis from $44.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.83.

Ziff Davis Stock Down 5.7 %

NASDAQ ZD traded down $2.70 during trading hours on Wednesday, hitting $44.80. The company’s stock had a trading volume of 79,068 shares, compared to its average volume of 322,511. The company has a market capitalization of $1.91 billion, a PE ratio of 38.03 and a beta of 1.36. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.49. Ziff Davis has a 52 week low of $37.76 and a 52 week high of $70.02. The company’s 50-day simple moving average is $53.54 and its two-hundred day simple moving average is $51.40.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its holdings in shares of Ziff Davis by 69.8% in the 3rd quarter. Victory Capital Management Inc. now owns 53,905 shares of the technology company’s stock worth $2,623,000 after buying an additional 22,155 shares during the last quarter. Franklin Resources Inc. bought a new stake in Ziff Davis in the third quarter worth about $986,000. Virtu Financial LLC purchased a new position in Ziff Davis in the third quarter valued at about $503,000. Empowered Funds LLC bought a new position in shares of Ziff Davis during the 3rd quarter valued at approximately $7,210,000. Finally, Rice Hall James & Associates LLC grew its position in shares of Ziff Davis by 11.0% during the 3rd quarter. Rice Hall James & Associates LLC now owns 501,313 shares of the technology company’s stock valued at $24,394,000 after acquiring an additional 49,510 shares during the period. Institutional investors own 99.76% 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.