Canaccord Genuity Reiterates Buy Rating for Zillow Group, Inc. (ZG)

Zillow Group, Inc. (NASDAQ:ZG)‘s stock had its “buy” rating reissued by stock analysts at Canaccord Genuity in a report released on Wednesday, November 8th. They currently have a $52.00 price objective on the technology company’s stock. Canaccord Genuity’s target price indicates a potential upside of 21.69% from the company’s previous close.

ZG has been the subject of a number of other reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $49.00 price objective (up from $48.00) on shares of Zillow Group in a research note on Thursday, August 10th. Needham & Company LLC lifted their target price on Zillow Group from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research upgraded Zillow Group from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Wednesday, August 16th. Macquarie started coverage on Zillow Group in a research report on Monday, September 25th. They set a “neutral” rating on the stock. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $50.00 target price (up previously from $44.00) on shares of Zillow Group in a research report on Monday, August 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $47.21.

Shares of Zillow Group (NASDAQ ZG) traded up $0.54 during midday trading on Wednesday, hitting $42.73. The stock had a trading volume of 321,885 shares, compared to its average volume of 443,451. The company has a debt-to-equity ratio of 0.14, a current ratio of 6.44 and a quick ratio of 6.44. Zillow Group has a twelve month low of $32.63 and a twelve month high of $50.91.

Zillow Group (NASDAQ:ZG) last released its earnings results on Tuesday, November 7th. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.02. Zillow Group had a negative return on equity of 0.25% and a negative net margin of 3.99%. The firm had revenue of $282.00 million for the quarter, compared to analyst estimates of $276.57 million. During the same quarter last year, the firm posted $0.17 EPS. The company’s revenue was up 25.6% on a year-over-year basis. research analysts anticipate that Zillow Group will post -0.06 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Caledonia Private Investments Pty Ltd grew its stake in Zillow Group by 2.1% in the 3rd quarter. Caledonia Private Investments Pty Ltd now owns 13,909,042 shares of the technology company’s stock valued at $558,448,000 after buying an additional 280,132 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Zillow Group by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 4,218,727 shares of the technology company’s stock worth $206,043,000 after acquiring an additional 26,455 shares during the last quarter. Janus Henderson Group PLC bought a new stake in shares of Zillow Group during the 2nd quarter worth $32,613,000. Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of Zillow Group by 0.3% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 667,428 shares of the technology company’s stock worth $32,597,000 after acquiring an additional 2,019 shares during the last quarter. Finally, State of Wisconsin Investment Board lifted its stake in Zillow Group by 3.7% in the third quarter. State of Wisconsin Investment Board now owns 628,121 shares of the technology company’s stock worth $25,219,000 after purchasing an additional 22,694 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

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About Zillow Group

Zillow Group, Inc operates real estate and home-related information marketplaces on mobile and the Web in the United States. The company offers a portfolio of brands and products to enable people find information about homes and connect with local professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.

Analyst Recommendations for Zillow Group (NASDAQ:ZG)

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