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

Zillow Group (NASDAQ:ZG) had its price target boosted by investment analysts at Evercore ISI from $55.00 to $75.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Evercore ISI’s price objective would suggest a potential upside of 5.25% from the stock’s current price.

Other analysts have also issued research reports about the company. DA Davidson increased their price objective on Zillow Group from $52.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Barclays raised their price target on Zillow Group from $35.00 to $36.00 and gave the stock an “underweight” rating in a research note on Thursday, August 8th. JMP Securities reissued a “market outperform” rating and set a $62.00 price objective on shares of Zillow Group in a research report on Wednesday, October 9th. Susquehanna raised their target price on shares of Zillow Group from $42.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 price target on shares of Zillow Group in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.06.

Zillow Group Stock Performance

NASDAQ ZG opened at $71.26 on Thursday. The company’s 50 day simple moving average is $59.60 and its two-hundred day simple moving average is $50.51. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12. Zillow Group has a 1 year low of $34.33 and a 1 year high of $72.03. The stock has a market capitalization of $16.49 billion, a PE ratio of -125.02 and a beta of 2.02.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. Zillow Group had a negative return on equity of 2.34% and a negative net margin of 6.17%. The business had revenue of $572.00 million for the quarter, compared to the consensus estimate of $538.36 million. During the same quarter last year, the business posted ($0.05) earnings per share. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. Analysts predict that Zillow Group will post -0.33 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Amy Bohutinsky sold 20,625 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the completion of the transaction, the director now directly owns 5,652 shares of the company’s stock, valued at $379,983.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Amy Bohutinsky sold 20,625 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the transaction, the director now directly owns 5,652 shares of the company’s stock, valued at $379,983.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $172,696.86. Following the sale, the director now owns 2,826 shares of the company’s stock, valued at approximately $172,696.86. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,596 shares of company stock valued at $3,938,581. Company insiders own 17.14% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Hedge funds have recently made changes to their positions in the business. Signaturefd LLC raised its holdings in shares of Zillow Group by 29.7% during the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock valued at $71,000 after buying an additional 360 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in shares of Zillow Group by 9.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,669 shares of the technology company’s stock worth $210,000 after acquiring an additional 421 shares in the last quarter. Creative Planning increased its holdings in shares of Zillow Group by 7.2% in the 3rd quarter. Creative Planning now owns 6,537 shares of the technology company’s stock valued at $405,000 after acquiring an additional 439 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Zillow Group during the 3rd quarter valued at approximately $29,000. Finally, Wedmont Private Capital lifted its stake in Zillow Group by 4.2% during the second quarter. Wedmont Private Capital now owns 12,483 shares of the technology company’s stock worth $610,000 after purchasing an additional 504 shares during the last quarter. Institutional investors and hedge funds 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.