Ziff Davis (NASDAQ:ZD) Shares Gap Up - Still a Buy?

Ziff Davis, Inc. (NASDAQ:ZD - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $48.99, but opened at $51.95. Ziff Davis shares last traded at $56.24, with a volume of 88,664 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Citigroup reduced their price target on shares of Ziff Davis from $52.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, August 9th. Royal Bank of Canada reiterated an "outperform" rating and set a $95.00 target price on shares of Ziff Davis in a report on Friday, September 6th. Finally, Barclays lowered their target price on Ziff Davis from $58.00 to $44.00 and set an "equal weight" rating for the company in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $71.50.

Ziff Davis Price Performance

The firm has a fifty day moving average of $47.44 and a 200 day moving average of $49.91. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $2.53 billion, a P/E ratio of 34.43 and a beta of 1.29.

Ziff Davis (NASDAQ:ZD - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.18 earnings per share 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 firm had revenue of $320.80 million for the quarter, compared to the consensus estimate of $332.44 million. During the same period in the previous year, the company earned $1.12 earnings per share. Ziff Davis's quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts anticipate that Ziff Davis, Inc. will post 6.1 EPS for the current year.

Institutional Investors Weigh In On Ziff Davis

Several hedge funds and other institutional investors have recently modified their holdings of ZD. Dimensional Fund Advisors LP raised its stake in Ziff Davis by 14.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,057,314 shares of the technology company's stock worth $113,255,000 after acquiring an additional 257,056 shares during the period. AQR Capital Management LLC raised its position in shares of Ziff Davis by 453.7% during the 2nd quarter. AQR Capital Management LLC now owns 278,564 shares of the technology company's stock valued at $15,204,000 after purchasing an additional 228,257 shares during the period. Empowered Funds LLC purchased a new position in shares of Ziff Davis during the 3rd quarter valued at $7,210,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Ziff Davis during the 3rd quarter valued at $4,263,000. Finally, International Assets Investment Management LLC boosted its holdings in Ziff Davis by 31,812.6% in the 3rd quarter. International Assets Investment Management LLC now owns 65,740 shares of the technology company's stock worth $3,199,000 after buying an additional 65,534 shares during the period. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

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.