Craig Hallum Issues Positive Forecast for Zillow Group (NASDAQ:ZG) Stock Price

Zillow Group (NASDAQ:ZG) had its target price raised by Craig Hallum from $70.00 to $95.00 in a report published on Wednesday morning,Benzinga reports. Craig Hallum currently has a buy rating on the technology company’s stock.

Other equities research analysts have also issued reports about the stock. Citigroup lifted their target price on shares of Zillow Group from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. UBS Group lifted their price objective on shares of Zillow Group from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Evercore ISI increased their target price on Zillow Group from $55.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Royal Bank of Canada lifted their price target on Zillow Group from $66.00 to $74.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $47.00 price objective on shares of Zillow Group in a research report on Monday, October 7th. One equities research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.65.

Zillow Group Trading Up 0.6 %

Zillow Group stock opened at $82.33 on Wednesday. The stock has a market cap of $19.23 billion, a P/E ratio of -143.12 and a beta of 2.02. Zillow Group has a fifty-two week low of $38.06 and a fifty-two week high of $83.25. The firm’s fifty day moving average price is $64.50 and its 200-day moving average price is $53.44. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $581.00 million for 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 company’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.12) EPS. Equities research analysts forecast that Zillow Group will post -0.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Amy Bohutinsky sold 20,625 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the sale, the director now owns 5,652 shares of the company’s stock, valued at $379,983.96. This trade represents a 78.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jeremy Hofmann sold 7,175 shares of Zillow Group stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $85.36, for a total transaction of $612,458.00. Following the completion of the sale, the chief financial officer now owns 99,362 shares in the company, valued at approximately $8,481,540.32. This trade represents a 6.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 160,439 shares of company stock valued at $11,576,823 in the last quarter. Insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

A number of institutional investors have recently bought and sold shares of ZG. Future Financial Wealth Managment LLC purchased a new stake in Zillow Group in the third quarter worth $29,000. GAMMA Investing LLC grew its position in shares of Zillow Group by 86.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock worth $75,000 after buying an additional 561 shares during the period. Pinpoint Asset Management Ltd purchased a new stake in shares of Zillow Group in the 3rd quarter worth about $95,000. Signaturefd LLC lifted its position in 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 acquiring an additional 360 shares during the period. Finally, Walleye Capital LLC bought a new stake in Zillow Group during the third quarter worth about $212,000. 20.32% of the stock is owned by institutional investors.

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.