Canaccord Genuity Group Issues Positive Forecast for Zillow Group (NASDAQ:ZG) Stock Price

Zillow Group (NASDAQ:ZG) had its price objective lifted by equities researchers at Canaccord Genuity Group from $64.00 to $86.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. Canaccord Genuity Group’s target price would indicate a potential upside of 6.32% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Evercore ISI boosted their price target on Zillow Group from $55.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Benchmark boosted their price target on Zillow Group from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Craig Hallum upped their target price on Zillow Group from $70.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Wedbush raised Zillow Group from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $50.00 to $80.00 in a research report on Monday, September 16th. Finally, UBS Group upped 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.94.

Zillow Group Stock Up 0.3 %

Zillow Group stock opened at $80.89 on Monday. The stock has a fifty day moving average price of $65.89 and a 200 day moving average price of $54.52. Zillow Group has a 52 week low of $38.06 and a 52 week high of $83.67. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11.

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

Insider Transactions at Zillow Group

In related news, Director Amy Bohutinsky sold 20,625 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total value of $1,386,618.75. Following the sale, the director now directly owns 5,652 shares in the company, valued at $379,983.96. This trade represents a 78.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO David A. Beitel sold 56,750 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $72.39, for a total value of $4,108,132.50. Following the transaction, the chief technology officer now directly owns 92 shares of the company’s stock, valued at approximately $6,659.88. The trade was a 99.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 163,591 shares of company stock worth $11,892,886. 17.14% of the stock is currently owned by company insiders.

Institutional Trading of Zillow Group

Several hedge funds and other institutional investors have recently modified their holdings of ZG. Virtu Financial LLC raised its holdings in Zillow Group by 132.1% during the third quarter. Virtu Financial LLC now owns 208,773 shares of the technology company’s stock valued at $12,929,000 after buying an additional 118,830 shares in the last quarter. Synergy Financial Group LTD bought a new position in Zillow Group during the third quarter valued at about $271,000. Geode Capital Management LLC raised its holdings in Zillow Group by 3.3% during the third quarter. Geode Capital Management LLC now owns 1,025,060 shares of the technology company’s stock valued at $63,523,000 after buying an additional 32,766 shares in the last quarter. M&T Bank Corp acquired a new stake in shares of Zillow Group in the third quarter valued at about $258,000. Finally, State Street Corp grew its position in shares of Zillow Group by 0.4% in the third quarter. State Street Corp now owns 805,279 shares of the technology company’s stock valued at $49,871,000 after purchasing an additional 2,832 shares during the last quarter. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

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.