Zacks Investment Research Upgrades Zillow Group, Inc. (ZG) to “Hold”

Zacks Investment Research upgraded shares of Zillow Group, Inc. (NASDAQ:ZG) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

According to Zacks, “Zillow Group, Inc. provides real estate and home-related brands on the Web and mobile. The company focuses on home lifecycle which include renting, buying, selling, financing and home improvement. Its portfolio of consumer brands consists of Zillow(R), Trulia(R), StreetEasy(R) and HotPads(R). The company’s business brands includes ActiveRain(R), Diverse Solutions(R), Market Leader(R), Mortech(R), Postlets(R) and Retsly(TM). Zillow Group Inc., formerly known as Zillow Inc., is headquartered in Seattle. “

Several other research analysts have also recently issued reports on the stock. Canaccord Genuity reiterated a buy rating and set a $42.00 target price on shares of Zillow Group in a report on Wednesday, December 21st. Stifel Nicolaus upgraded shares of Zillow Group from a hold rating to a buy rating and increased their target price for the stock from $36.00 to $43.00 in a report on Tuesday, February 14th. Needham & Company LLC increased their target price on shares of Zillow Group from $40.00 to $41.00 and gave the stock a buy rating in a report on Wednesday, February 8th. Royal Bank of Canada dropped their target price on shares of Zillow Group to $40.00 in a report on Wednesday, February 8th. Finally, Morgan Stanley cut shares of Zillow Group from an overweight rating to an equal weight rating and set a $39.00 price target on the stock. in a report on Friday, January 13th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $37.41.

Zillow Group (NASDAQ:ZG) traded up 0.58% during mid-day trading on Friday, reaching $36.16. 257,236 shares of the company’s stock traded hands. The stock has a 50 day moving average of $34.61 and a 200 day moving average of $35.23. The company’s market cap is $6.58 billion. Zillow Group has a 12-month low of $23.63 and a 12-month high of $39.99.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Tuesday, February 7th. The technology company reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.03. The firm had revenue of $227.60 million for the quarter, compared to analysts’ expectations of $222.30 million. Zillow Group had a negative net margin of 26.04% and a negative return on equity of 7.24%. The business’s revenue for the quarter was up 34.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) earnings per share. On average, equities research analysts predict that Zillow Group will post $0.43 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. OMERS ADMINISTRATION Corp raised its position in Zillow Group by 127.0% in the third quarter. OMERS ADMINISTRATION Corp now owns 301,700 shares of the technology company’s stock valued at $10,394,000 after buying an additional 168,800 shares in the last quarter. Global Endowment Management LP raised its position in Zillow Group by 0.8% in the third quarter. Global Endowment Management LP now owns 182,356 shares of the technology company’s stock valued at $6,283,000 after buying an additional 1,450 shares in the last quarter. California State Teachers Retirement System raised its position in Zillow Group by 0.9% in the third quarter. California State Teachers Retirement System now owns 110,289 shares of the technology company’s stock valued at $3,799,000 after buying an additional 1,000 shares in the last quarter. Engineers Gate Manager LP bought a new position in Zillow Group during the third quarter valued at approximately $524,000. Finally, SG Americas Securities LLC raised its position in Zillow Group by 3.3% in the third quarter. SG Americas Securities LLC now owns 24,779 shares of the technology company’s stock valued at $854,000 after buying an additional 781 shares in the last quarter. Institutional investors and hedge funds own 27.41% of the company’s stock.

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