Zillow Group (NASDAQ:ZG) Stock Price Expected to Rise, Benchmark Analyst Says

Zillow Group (NASDAQ:ZG) had its price target raised by equities researchers at Benchmark from $80.00 to $100.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Benchmark’s price objective indicates a potential upside of 21.58% from the company’s previous close.

Several other analysts also recently weighed in on ZG. Barclays upped their price target on shares of Zillow Group from $36.00 to $50.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. Canaccord Genuity Group upped their price target on shares of Zillow Group from $64.00 to $86.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. JMP Securities raised their target price on shares of Zillow Group from $82.00 to $92.00 and gave the stock a “market outperform” rating in a report on Monday, December 16th. The Goldman Sachs Group boosted their price objective on Zillow Group from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, KeyCorp raised Zillow Group from a “sector weight” rating to an “overweight” rating and set a $100.00 price target on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.00.

Zillow Group Trading Up 0.7 %

Shares of NASDAQ:ZG traded up $0.58 during trading on Wednesday, reaching $82.25. The company’s stock had a trading volume of 101,433 shares, compared to its average volume of 366,016. The stock has a market capitalization of $19.21 billion, a PE ratio of -144.46, a price-to-earnings-growth ratio of 10.99 and a beta of 2.09. Zillow Group has a 12 month low of $38.06 and a 12 month high of $83.67. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11. The firm’s 50 day simple moving average is $75.51 and its two-hundred day simple moving average is $64.40.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $581.00 million for the quarter, compared to analyst estimates of $555.45 million. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.12) earnings per share. On average, research analysts predict that Zillow Group will post -0.36 EPS for the current fiscal year.

Insider Activity

In related news, insider Dan Spaulding sold 4,565 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $86.22, for a total value of $393,594.30. Following the completion of the transaction, the insider now directly owns 58,217 shares of the company’s stock, valued at approximately $5,019,469.74. This represents a 7.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeremy Hofmann sold 1,612 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $84.98, for a total value of $136,987.76. Following the completion of the sale, the chief financial officer now owns 99,362 shares of the company’s stock, valued at approximately $8,443,782.76. The trade was a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 164,689 shares of company stock valued at $12,520,379. 17.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zillow Group

A number of large investors have recently bought and sold shares of ZG. Cynosure Group LLC acquired a new stake in Zillow Group in the 3rd quarter valued at $12,248,000. Mirabella Financial Services LLP purchased a new stake in shares of Zillow Group during the third quarter valued at $11,351,000. Philadelphia Financial Management of San Francisco LLC purchased a new stake in Zillow Group in the 3rd quarter worth about $9,813,000. Virtu Financial LLC increased its position in Zillow Group by 132.1% in the 3rd quarter. Virtu Financial LLC now owns 208,773 shares of the technology company’s stock worth $12,929,000 after purchasing an additional 118,830 shares during the last quarter. Finally, CreativeOne Wealth LLC increased its holdings in shares of Zillow Group by 164.4% during the 3rd quarter. CreativeOne Wealth LLC now owns 179,700 shares of the technology company’s stock valued at $11,129,000 after acquiring an additional 111,743 shares during the last quarter. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Zillow Group Company Profile

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.