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

by · The Markets Daily

Zillow Group (NASDAQ:ZG – Get Free Report) had its target price boosted by DA Davidson from $75.00 to $80.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. DA Davidson’s target price would suggest a potential upside of 14.83% from the company’s current price.

A number of other research firms have also recently commented on ZG. Piper Sandler increased their target price on shares of Zillow Group from $73.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. UBS Group raised their target price on shares of Zillow Group from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Evercore ISI upped their price target on shares of Zillow Group from $55.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Royal Bank of Canada increased their price target on Zillow Group from $66.00 to $74.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Craig Hallum lifted their price objective on Zillow Group from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Zillow Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Read Our Latest Research Report on Zillow Group

Zillow Group Stock Performance

NASDAQ ZG opened at $69.67 on Wednesday. The firm’s 50 day simple moving average is $73.29 and its 200 day simple moving average is $60.40. The firm has a market capitalization of $16.27 billion, a price-to-earnings ratio of -122.23 and a beta of 2.09. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11. Zillow Group has a 1 year low of $38.06 and a 1 year high of $83.67.

Zillow Group (NASDAQ:ZG – Get Free Report) last issued its earnings results 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. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The firm had revenue of $581.00 million for the quarter, compared to the consensus estimate of $555.45 million. During the same quarter last year, the business posted ($0.12) EPS. The company’s revenue was up 17.1% compared to the same quarter last year. As a group, research analysts expect that Zillow Group will post -0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Dan Spaulding sold 4,565 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $86.22, for a total transaction of $393,594.30. Following the transaction, the insider now directly owns 58,217 shares in the company, valued at approximately $5,019,469.74. The trade was a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO David A. Beitel sold 56,750 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $72.39, for a total transaction of $4,108,132.50. Following the completion of the sale, the chief technology officer now directly owns 92 shares of the company’s stock, valued at $6,659.88. The trade was a 99.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 139,689 shares of company stock worth $10,395,879 over the last 90 days. 17.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Future Financial Wealth Managment LLC bought a new position in shares of Zillow Group during the 3rd quarter valued at approximately $29,000. Versant Capital Management Inc purchased a new position in Zillow Group in the fourth quarter valued at approximately $72,000. GAMMA Investing LLC lifted its stake in Zillow Group by 86.7% in the third quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock valued at $75,000 after purchasing an additional 561 shares during the last quarter. Pinpoint Asset Management Ltd bought a new position in Zillow Group during the third quarter valued at $95,000. Finally, Vanguard Personalized Indexing Management LLC increased its position in Zillow Group by 9.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,669 shares of the technology company’s stock worth $210,000 after buying an additional 421 shares during the last quarter. Hedge funds and other institutional investors 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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