Zedge (NYSEAMERICAN:ZDGE) Receives New Coverage from Analysts at Maxim Group

Research analysts at Maxim Group started coverage on shares of Zedge (NYSEAMERICAN:ZDGE – Get Rating) in a report released on Thursday, TipRanks reports. The brokerage set a “buy” rating and a $16.00 price target on the stock. Maxim Group’s price objective suggests a potential upside of 160.16% from the stock’s previous close.

NYSEAMERICAN ZDGE opened at $6.15 on Thursday. The stock has a market cap of $85.36 million, a P/E ratio of 10.25 and a beta of 0.93. Zedge has a 52-week low of $4.99 and a 52-week high of $19.90.

Zedge (NYSEAMERICAN:ZDGE – Get Rating) last issued its earnings results on Tuesday, March 15th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.01. Zedge had a net margin of 37.67% and a return on equity of 26.15%.

Institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP purchased a new position in shares of Zedge during the 3rd quarter worth approximately $673,000. BlackRock Inc. increased its stake in shares of Zedge by 4.4% during the 3rd quarter. BlackRock Inc. now owns 78,167 shares of the company’s stock worth $1,043,000 after purchasing an additional 3,283 shares in the last quarter. Advisor Group Holdings Inc. increased its stake in shares of Zedge by 15.1% during the 3rd quarter. Advisor Group Holdings Inc. now owns 11,435 shares of the company’s stock worth $153,000 after purchasing an additional 1,500 shares in the last quarter. Barclays PLC increased its stake in shares of Zedge by 287.5% during the 3rd quarter. Barclays PLC now owns 2,139 shares of the company’s stock worth $29,000 after purchasing an additional 1,587 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Zedge by 30.9% during the 4th quarter. Renaissance Technologies LLC now owns 670,314 shares of the company’s stock worth $5,698,000 after purchasing an additional 158,200 shares in the last quarter. 23.11% of the stock is owned by institutional investors.

About Zedge (Get Rating)

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

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