Ziff Davis (NASDAQ:ZD) Given New $48.00 Price Target at Citigroup

Ziff Davis (NASDAQ:ZD) had its target price lifted by Citigroup from $29.00 to $48.00 in a research note released on Friday,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

ZD has been the topic of a number of other reports. Weiss Ratings restated a “sell (d)” rating on shares of Ziff Davis in a report on Wednesday, January 21st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $40.00 price target on shares of Ziff Davis in a research report on Tuesday, February 24th. Evercore reissued an “outperform” rating and issued a $46.00 price target on shares of Ziff Davis in a research note on Tuesday, February 24th. JPMorgan Chase & Co. cut their price objective on Ziff Davis from $40.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Finally, Wall Street Zen lowered shares of Ziff Davis from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $41.13.

Ziff Davis Stock Performance

Shares of ZD opened at $42.32 on Friday. The firm’s 50 day moving average is $34.84 and its 200-day moving average is $35.42. The stock has a market capitalization of $1.59 billion, a P/E ratio of 38.47 and a beta of 1.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.27 and a quick ratio of 1.27. Ziff Davis has a 12-month low of $22.45 and a 12-month high of $50.55.

Institutional Trading of Ziff Davis

A number of hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its position in Ziff Davis by 260.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 597,573 shares of the technology company’s stock valued at $21,005,000 after purchasing an additional 431,828 shares in the last quarter. LSV Asset Management boosted its stake in shares of Ziff Davis by 313.8% during the 2nd quarter. LSV Asset Management now owns 440,026 shares of the technology company’s stock valued at $13,320,000 after buying an additional 333,680 shares during the period. Legal & General Group Plc boosted its stake in shares of Ziff Davis by 9.0% during the 2nd quarter. Legal & General Group Plc now owns 2,669,113 shares of the technology company’s stock valued at $80,794,000 after buying an additional 221,445 shares during the period. Invenomic Capital Management LP grew its holdings in shares of Ziff Davis by 86.0% during the 3rd quarter. Invenomic Capital Management LP now owns 408,449 shares of the technology company’s stock valued at $15,562,000 after acquiring an additional 188,844 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Ziff Davis by 88.5% in the fourth quarter. AQR Capital Management LLC now owns 399,259 shares of the technology company’s stock worth $14,034,000 after acquiring an additional 187,431 shares during the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

Ziff Davis Company Profile

Ziff Davis, Inc is a digital media and internet company that operates a diverse portfolio of online brands, subscription-based services and performance marketing platforms. The company specializes in technology publishing and digital marketing solutions, offering content, reviews and insights tailored to consumer and enterprise audiences. Ziff Davis’s flagship media properties include PCMag, which provides expert reviews and comparisons of consumer electronics and software, as well as IGN, a leading destination for gaming news, reviews and entertainment coverage.

Founded in 1927 by William B.