Zedge (NYSEAMERICAN:ZDGE) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Zedge (NYSEAMERICAN:ZDGE) posted its quarterly earnings results on Wednesday. The company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.09, Fidelity Earnings reports. Zedge had a net margin of 25.25% and a return on equity of 31.26%.

ZDGE stock opened at $15.35 on Friday. The stock has a 50 day moving average of $4.24. The firm has a market cap of $199.66 million, a PE ratio of 59.04 and a beta of 0.99. The company has a quick ratio of 4.65, a current ratio of 4.65 and a debt-to-equity ratio of 0.01. Zedge has a 52 week low of $1.10 and a 52 week high of $16.94.

In other Zedge news, CFO Yi Tsai sold 10,000 shares of Zedge stock in a transaction that occurred on Monday, March 22nd. The shares were sold at an average price of $15.35, for a total transaction of $153,500.00. Following the completion of the sale, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $153,500. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 23.60% of the stock is owned by company insiders.

A hedge fund recently raised its stake in Zedge stock. Morgan Stanley lifted its position in Zedge, Inc. (NYSEAMERICAN:ZDGE) by 936.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,555 shares of the company’s stock after purchasing an additional 14,958 shares during the period. Morgan Stanley owned about 0.13% of Zedge worth $200,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 25.51% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have commented on ZDGE. Maxim Group raised their target price on shares of Zedge from $19.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, March 16th. TheStreet upgraded shares of Zedge from a “c+” rating to a “b-” rating in a research note on Thursday, March 18th.

About Zedge

Zedge, Inc operates a digital publishing and content platform worldwide. Its platform enables consumers to personalize their mobile devices with ringtones, wallpapers, home screen app icons, widgets, and notification sounds. The company was incorporated in 2008 and is based in New York, New York.

Further Reading: NASDAQ

Earnings History for Zedge (NYSEAMERICAN:ZDGE)

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