Ziff Davis (NASDAQ:ZD) Releases FY24 Earnings Guidance

Ziff Davis (NASDAQ:ZD) updated its FY24 earnings guidance on Thursday. 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.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ZD. Citigroup decreased their price objective on shares of Ziff Davis from $52.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Barclays lowered their price target 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Ziff Davis in a research note on Friday, September 6th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.50.

Ziff Davis Stock Performance

NASDAQ ZD opened at $56.65 on Friday. The stock has a fifty day simple moving average of $47.60 and a 200 day simple moving average of $49.93. Ziff Davis has a twelve month low of $37.76 and a twelve month high of $70.90. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 34.97 and a beta of 1.29. 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 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 the consensus estimate of $332.44 million. During the same period last year, the company posted $1.12 EPS. The business’s revenue was down 1.6% compared to the same quarter last year. Sell-side analysts expect 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.