Zillow Group (NASDAQ:ZG) Price Target Increased to $71.00 by Analysts at DA Davidson

Zillow Group (NASDAQ:ZG) had its price target boosted by equities researchers at DA Davidson from $52.00 to $71.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. DA Davidson’s price target indicates a potential upside of 11.76% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. Evercore ISI upped their target price on shares of Zillow Group from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Royal Bank of Canada upped their price objective on Zillow Group from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Wedbush upgraded Zillow Group from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $50.00 to $80.00 in a report on Monday, September 16th. Craig Hallum upped their price target on Zillow Group from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $47.00 price objective on shares of Zillow Group in a research note on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Zillow Group presently has an average rating of “Moderate Buy” and a consensus target price of $60.94.

Zillow Group Stock Performance

NASDAQ:ZG opened at $63.53 on Wednesday. Zillow Group has a fifty-two week low of $33.23 and a fifty-two week high of $66.75. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.12 and a current ratio of 2.12. The company has a 50 day moving average price of $52.88 and a 200 day moving average price of $47.61. The stock has a market capitalization of $14.70 billion, a P/E ratio of -92.07 and a beta of 2.00.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data 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. The business had revenue of $572.00 million during the quarter, compared to analysts’ expectations of $538.36 million. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The company’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) earnings per share. Equities research analysts forecast that Zillow Group will post -0.33 EPS for the current year.

Insiders Place Their Bets

In related 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 value of $1,386,618.75. Following the completion of the sale, the director now owns 5,652 shares in the company, valued at approximately $379,983.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Zillow Group news, CAO Jennifer Rock sold 4,050 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $49.23, for a total transaction of $199,381.50. Following the completion of the sale, the chief accounting officer now directly owns 79,694 shares of the company’s stock, valued at approximately $3,923,335.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amy Bohutinsky sold 20,625 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the transaction, the director now directly owns 5,652 shares in the company, valued at approximately $379,983.96. The disclosure for this sale can be found here. Insiders have sold a total of 221,999 shares of company stock valued at $11,780,363 over the last quarter. Company insiders own 17.14% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Several hedge funds have recently modified their holdings of ZG. Fidelis Capital Partners LLC purchased a new position in Zillow Group during the 1st quarter worth $32,000. EntryPoint Capital LLC acquired a new position in shares of Zillow Group during the first quarter worth about $53,000. Signaturefd LLC raised its holdings in Zillow Group by 29.7% during the second quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock worth $71,000 after purchasing an additional 360 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in Zillow Group in the first quarter valued at about $84,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Zillow Group in the 1st quarter valued at approximately $118,000. 20.32% of the stock is owned by institutional investors and hedge funds.

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.