Evercore ISI Issues Positive Forecast for Zillow Group (NASDAQ:ZG) Stock Price

Zillow Group (NASDAQ:ZG) had its price objective hoisted by Evercore ISI from $55.00 to $75.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

ZG has been the topic of several other reports. Craig Hallum upped their price objective on Zillow Group from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Citigroup increased their price objective on 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 boosted their target price on Zillow Group from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Susquehanna raised their price target on shares of Zillow Group from $42.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $47.00 price target on shares of Zillow Group in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $66.06.

Zillow Group Price Performance

Shares of NASDAQ:ZG opened at $71.26 on Thursday. The business has a fifty day moving average price of $59.60 and a 200-day moving average price of $50.62. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.13 and a quick ratio of 2.12. The company has a market capitalization of $16.49 billion, a PE ratio of -125.02 and a beta of 2.02. Zillow Group has a 1-year low of $34.33 and a 1-year high of $72.03.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $581.00 million during the quarter, compared to analyst estimates of $555.45 million. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. Zillow Group’s revenue was up 17.1% compared to the same quarter last year. During the same period last year, the business earned ($0.12) EPS. As a group, equities analysts expect that Zillow Group will post -0.33 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jeremy Wacksman sold 4,480 shares of Zillow Group stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $52.83, for a total transaction of $236,678.40. Following the transaction, the chief executive officer now directly owns 174,439 shares of the company’s stock, valued at $9,215,612.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Jeremy Wacksman sold 4,480 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $52.83, for a total value of $236,678.40. Following the completion of the sale, the chief executive officer now directly owns 174,439 shares of the company’s stock, valued at $9,215,612.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Amy Bohutinsky sold 20,625 shares of Zillow Group 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 owns 5,652 shares in the company, valued at approximately $379,983.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,596 shares of company stock valued at $3,938,581. 17.14% of the stock is owned by company insiders.

Institutional Trading of Zillow Group

Several institutional investors have recently made changes to their positions in the business. Future Financial Wealth Managment LLC purchased a new position in Zillow Group during the third quarter valued at $29,000. EntryPoint Capital LLC purchased a new position in shares of Zillow Group during the first quarter valued at about $53,000. GAMMA Investing LLC increased its holdings in shares of Zillow Group by 86.7% in the third quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock worth $75,000 after purchasing an additional 561 shares during the last quarter. Signaturefd LLC lifted its position in shares of Zillow Group by 29.7% in the second quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock worth $71,000 after buying an additional 360 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in Zillow Group during the first quarter valued at approximately $84,000. Hedge funds and other institutional investors own 20.32% of the company’s stock.

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.