Ziff Davis (NASDAQ:ZD) Issues FY24 Earnings Guidance

Ziff Davis (NASDAQ:ZD) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $6.43-6.77 for the period, compared to the consensus EPS 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.

Analysts Set New Price Targets

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

Ziff Davis Price Performance

Shares of NASDAQ:ZD opened at $56.65 on Friday. The company has a market cap of $2.53 billion, a P/E ratio of 34.97 and a beta of 1.29. The business has a fifty day simple moving average of $47.60 and a 200-day simple moving average of $49.93. Ziff Davis has a 52 week low of $37.76 and a 52 week high of $70.90. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.54.

Ziff Davis (NASDAQ:ZD) last issued its quarterly 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). Ziff Davis had a return on equity of 13.81% and a net margin of 5.86%. The business had revenue of $320.80 million during the quarter, compared to analyst estimates of $332.44 million. During the same period in the previous year, the business posted $1.12 earnings per share. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. Equities research analysts forecast that Ziff Davis will post 6.1 EPS for the current year.

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.