Zillow Group (NASDAQ:ZG) Lifted to “Outperform” at Wedbush

by · The Markets Daily

Wedbush upgraded shares of Zillow Group (NASDAQ:ZG – Free Report) from a neutral rating to an outperform rating in a research note released on Monday, Marketbeat reports. The brokerage currently has $80.00 price target on the technology company’s stock, up from their previous price target of $50.00.

Other equities analysts have also recently issued reports about the stock. DA Davidson restated a buy rating and set a $52.00 price target on shares of Zillow Group in a report on Tuesday, June 18th. Cantor Fitzgerald started coverage on shares of Zillow Group in a report on Thursday, September 5th. They set a neutral rating and a $47.00 price target on the stock. Evercore ISI boosted their price target on shares of Zillow Group from $50.00 to $55.00 and gave the company an outperform rating in a report on Thursday, August 8th. Royal Bank of Canada boosted their price target on shares of Zillow Group from $60.00 to $66.00 and gave the company an outperform rating in a report on Thursday, August 29th. Finally, Benchmark boosted their price target on shares of Zillow Group from $60.00 to $65.00 and gave the company a buy rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $59.82.

View Our Latest Stock Analysis on ZG

Zillow Group Price Performance

NASDAQ ZG opened at $63.20 on Monday. The stock has a market capitalization of $14.93 billion, a P/E ratio of -91.59 and a beta of 2.00. Zillow Group has a 1 year low of $33.23 and a 1 year high of $65.60. The business’s fifty day moving average is $50.80 and its two-hundred day moving average is $47.02. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.12 and a current ratio of 2.12.

Zillow Group (NASDAQ:ZG – Get Free Report) last announced its earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.08. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The company had revenue of $572.00 million for the quarter, compared to the consensus estimate of $538.36 million. During the same period in the previous year, the business earned ($0.05) EPS. The company’s revenue was up 13.0% on a year-over-year basis. On average, research analysts forecast that Zillow Group will post -0.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Jennifer Rock sold 4,050 shares of Zillow Group stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $49.23, for a total value of $199,381.50. Following the completion of the transaction, the chief accounting officer now owns 79,694 shares in the company, valued at $3,923,335.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Thielke Claire Cormier sold 2,826 shares of Zillow Group stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $61.11, for a total value of $172,696.86. Following the completion of the transaction, the director now owns 2,826 shares in the company, valued at $172,696.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jennifer Rock sold 4,050 shares of Zillow Group stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $49.23, for a total transaction of $199,381.50. Following the completion of the transaction, the chief accounting officer now owns 79,694 shares of the company’s stock, valued at approximately $3,923,335.62. The disclosure for this sale can be found here. Insiders sold a total of 201,374 shares of company stock worth $10,393,745 over the last quarter. Company insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fidelis Capital Partners LLC acquired a new stake in Zillow Group during the 1st quarter worth $32,000. Quadrant Capital Group LLC grew its holdings in Zillow Group by 45.1% during the 4th quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock worth $43,000 after acquiring an additional 237 shares during the period. EntryPoint Capital LLC acquired a new stake in Zillow Group during the 1st quarter worth $53,000. Signaturefd LLC grew its holdings in Zillow Group by 29.7% during the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock worth $71,000 after acquiring an additional 360 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new stake in Zillow Group during the 1st quarter worth $84,000. Institutional investors and hedge funds own 20.32% of the company’s stock.

About Zillow Group

(Get Free Report)

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.

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