Zillow Group (NASDAQ:ZG) Price Target Raised to $95.00

Zillow Group (NASDAQ:ZG) had its price objective boosted by stock analysts at Craig Hallum from $70.00 to $95.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Craig Hallum’s price objective would suggest a potential upside of 16.45% from the company’s previous close.

Several other brokerages have also commented on ZG. Evercore ISI lifted their price objective on shares of Zillow Group from $55.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $47.00 price target on shares of Zillow Group in a report on Monday, October 7th. Wedbush raised Zillow Group from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $50.00 to $80.00 in a report on Monday, September 16th. Canaccord Genuity Group boosted their target price on Zillow Group from $56.00 to $64.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Finally, Benchmark upped their price target on Zillow Group from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $69.65.

Zillow Group Stock Performance

Shares of ZG traded down $0.29 on Wednesday, reaching $81.58. 104,730 shares of the company’s stock traded hands, compared to its average volume of 622,013. The stock’s 50 day simple moving average is $64.08 and its two-hundred day simple moving average is $53.16. The stock has a market cap of $19.05 billion, a PE ratio of -143.12 and a beta of 2.02. Zillow Group has a 52-week low of $38.06 and a 52-week high of $83.25. 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 (NASDAQ:ZG) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. The firm had revenue of $581.00 million during the quarter, compared to analyst estimates of $555.45 million. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The business’s revenue was up 17.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.12) EPS. On average, analysts forecast that Zillow Group will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Susan Daimler sold 3,484 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $54.18, for a total value of $188,763.12. Following the sale, the insider now directly owns 22,464 shares of the company’s stock, valued at $1,217,099.52. This trade represents a 13.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Errol G. Samuelson sold 17,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $73.57, for a total transaction of $1,250,690.00. Following the completion of the transaction, the insider now directly owns 22,739 shares of the company’s stock, valued at approximately $1,672,908.23. This represents a 42.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 153,264 shares of company stock valued at $10,964,365. Company insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC bought a new stake in shares of Zillow Group in the third quarter worth about $29,000. Signaturefd LLC grew its position in shares of Zillow Group by 29.7% in the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock worth $71,000 after buying an additional 360 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Zillow Group by 86.7% during the third quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock valued at $75,000 after buying an additional 561 shares during the period. Pinpoint Asset Management Ltd bought a new position in shares of Zillow Group during the third quarter valued at approximately $95,000. Finally, Maryland State Retirement & Pension System bought a new stake in Zillow Group in the second quarter valued at $202,000. Hedge funds and other institutional investors own 20.32% of the company’s stock.

About Zillow Group

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.