Royal Bank of Canada Reaffirms “Outperform” Rating for Zillow Group (NASDAQ:ZG)

Zillow Group (NASDAQ:ZG)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank of Canada in a note issued to investors on Tuesday, Benzinga reports. They currently have a $66.00 target price on the technology company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 14.70% from the stock’s previous close.

Several other research firms also recently issued reports on ZG. Benchmark lifted their price target on shares of Zillow Group from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Wedbush upgraded shares of Zillow Group from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $50.00 to $80.00 in a report on Monday, September 16th. 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 report on Thursday, August 8th. Barclays lifted their price target on Zillow Group from $35.00 to $36.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. Finally, UBS Group increased their price objective on Zillow Group from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.53.

Zillow Group Stock Performance

NASDAQ:ZG opened at $57.54 on Tuesday. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. Zillow Group has a twelve month low of $33.23 and a twelve month high of $66.75. The company has a fifty day moving average of $57.94 and a 200-day moving average of $49.11. The firm has a market capitalization of $13.59 billion, a P/E ratio of -85.01 and a beta of 2.01.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.08. The firm had revenue of $572.00 million for the quarter, compared to analyst estimates of $538.36 million. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) earnings per share. As a group, sell-side analysts anticipate that Zillow Group will post -0.33 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Jennifer Rock sold 4,050 shares of Zillow Group stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $49.23, for a total value of $199,381.50. Following the completion of the transaction, the chief accounting officer now directly owns 79,694 shares in the company, valued at approximately $3,923,335.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Dan Spaulding sold 2,991 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $53.18, for a total transaction of $159,061.38. Following the completion of the transaction, the insider now directly owns 70,342 shares in the company, valued at $3,740,787.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jennifer Rock sold 4,050 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $49.23, for a total value of $199,381.50. Following the transaction, the chief accounting officer now owns 79,694 shares of the company’s stock, valued at approximately $3,923,335.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 221,999 shares of company stock worth $11,780,363 over the last quarter. 17.14% of the stock is currently owned by company insiders.

Institutional Trading of Zillow Group

Institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC lifted its holdings in shares of Zillow Group by 29.7% during the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock worth $71,000 after acquiring an additional 360 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Zillow Group by 9.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,669 shares of the technology company’s stock valued at $210,000 after purchasing an additional 421 shares in the last quarter. Creative Planning lifted its stake in Zillow Group by 7.2% during the third quarter. Creative Planning now owns 6,537 shares of the technology company’s stock worth $405,000 after purchasing an additional 439 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Zillow Group in the 3rd quarter worth about $29,000. Finally, Wedmont Private Capital increased its position in shares of Zillow Group by 4.2% during the 2nd quarter. Wedmont Private Capital now owns 12,483 shares of the technology company’s stock valued at $610,000 after purchasing an additional 504 shares during the last quarter. 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.