Ziff Davis (NASDAQ:ZD) Releases FY 2024 Earnings Guidance

Ziff Davis (NASDAQ:ZD) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 6.430-6.770 for the period, compared to the consensus 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 on Friday, reaching $56.65. 1,380,366 shares of the stock traded hands, compared to its average volume of 381,991. 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 price-to-earnings ratio of 34.97 and a beta of 1.29. Ziff Davis has a 12 month low of $37.76 and a 12 month high of $70.90. The company’s fifty day simple moving average is $47.60 and its 200 day simple moving average is $49.93.

Ziff Davis (NASDAQ:ZD) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $332.44 million. During the same quarter in the previous year, the company earned $1.12 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities analysts predict that Ziff Davis will post 6.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on ZD shares. Barclays reduced 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 price target on shares of Ziff Davis in a report on Friday, September 6th. Finally, 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 report 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’s stock. Based on data from MarketBeat, Ziff Davis has a consensus rating of “Moderate Buy” and a consensus target price of $71.50.

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.