Zillow Group, Inc. (NASDAQ:ZG) Receives $72.71 Consensus Price Target from Brokerages

Zillow Group, Inc. (NASDAQ:ZG) has been given an average recommendation of “Moderate Buy” by the eighteen analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $72.71.

Several research firms have weighed in on ZG. Cantor Fitzgerald reiterated a “neutral” rating and set a $47.00 price objective on shares of Zillow Group in a research report on Monday, October 7th. DA Davidson raised their price target on shares of Zillow Group from $71.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. UBS Group boosted their price objective on shares of Zillow Group from $70.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Susquehanna raised their target price on shares of Zillow Group from $55.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Finally, Royal Bank of Canada boosted their price target on Zillow Group from $66.00 to $74.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th.

Zillow Group Stock Up 1.9 %

Shares of ZG opened at $71.40 on Wednesday. The firm has a market cap of $16.68 billion, a P/E ratio of -125.26 and a beta of 2.08. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13. Zillow Group has a 52 week low of $38.06 and a 52 week high of $83.67. The firm’s 50-day simple moving average is $72.73 and its 200 day simple moving average is $59.90.

Zillow Group (NASDAQ:ZG) last posted 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. The company had revenue of $581.00 million for the quarter, compared to the consensus estimate of $555.45 million. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.12) earnings per share. On average, analysts forecast that Zillow Group will post -0.34 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO David A. Beitel sold 56,750 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $72.39, for a total transaction of $4,108,132.50. Following the sale, the chief technology officer now owns 92 shares of the company’s stock, valued at $6,659.88. This trade represents a 99.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Bradley D. Owens sold 1,846 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $73.03, for a total value of $134,813.38. Following the completion of the transaction, the general counsel now directly owns 29,893 shares of the company’s stock, valued at approximately $2,183,085.79. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 139,689 shares of company stock valued at $10,395,879. 17.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

Several hedge funds have recently added to or reduced their stakes in ZG. Signaturefd LLC increased its position in Zillow Group by 29.7% in the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock valued at $71,000 after acquiring an additional 360 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in shares of Zillow Group by 9.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,669 shares of the technology company’s stock worth $210,000 after purchasing an additional 421 shares during the last quarter. Creative Planning grew its stake in shares of Zillow Group by 7.2% in 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 acquired a new stake in Zillow Group in the third quarter valued at $29,000. Finally, GAMMA Investing LLC raised its position in Zillow Group by 86.7% during the 3rd 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. 20.32% of the stock is currently owned by institutional investors and hedge funds.

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.