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

Zedge (NYSEAMERICAN:ZDGE) issued its quarterly earnings results on Wednesday. The company reported $0.13 EPS for the quarter, beating the 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%.

Shares of ZDGE opened at $15.35 on Friday. The company has a market cap of $199.66 million, a price-to-earnings 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 1-year low of $1.10 and a 1-year high of $16.94. The firm’s 50-day moving average is $4.24.

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

In related news, CFO Yi Tsai sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 22nd. The stock was sold at an average price of $15.35, for a total value of $153,500.00. Following the completion of the sale, the chief financial officer now owns 10,000 shares in the company, valued at $153,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.60% of the stock is owned by corporate insiders.

An institutional investor recently raised its position in Zedge stock. Morgan Stanley raised its stake in shares of Zedge, Inc. (NYSEAMERICAN:ZDGE) by 936.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,555 shares of the company’s stock after acquiring an additional 14,958 shares during the quarter. Morgan Stanley owned approximately 0.13% of Zedge worth $200,000 at the end of the most recent reporting period. 25.51% of the stock is owned by institutional investors and hedge funds.

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: What are some reasons analysts would give stocks a buy rating?

Earnings History for Zedge (NYSEAMERICAN:ZDGE)

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