Ziff Davis price target lowered to $95 from $100 at Baird

Baird analyst William Power lowered the firm’s price target on Ziff Davis to $95 from $100 and keeps an Outperform rating on the shares. The analyst said they reported solid Q3 results overall given the tough macro, with revenue slightly light and adjusted EBITDA actually slightly better. Q4 revenue guidance was also slightly weaker, though profitability was largely in line, driven by cost-cutting initiatives.