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

Zillow Group (NASDAQ:ZG) had its price objective raised by investment analysts at Benchmark from $80.00 to $100.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Benchmark’s price objective indicates a potential upside of 18.95% from the company’s current price.

Several other research firms have also recently weighed in on ZG. KeyCorp upgraded shares of Zillow Group from a “sector weight” rating to an “overweight” rating and set a $100.00 price objective for the company in a research report on Monday. Royal Bank of Canada raised their target price on Zillow Group from $66.00 to $74.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Robert W. Baird began coverage on Zillow Group in a research note on Friday, January 31st. They set a “neutral” rating and a $88.00 target price for the company. JMP Securities increased their price target on Zillow Group from $82.00 to $92.00 and gave the stock a “market outperform” rating in a report on Monday, December 16th. Finally, Piper Sandler increased their target price on shares of Zillow Group from $73.00 to $93.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.00.

Zillow Group Stock Up 1.2 %

NASDAQ:ZG opened at $84.07 on Wednesday. Zillow Group has a one year low of $38.06 and a one year high of $84.96. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.13 and a quick ratio of 3.13. The company has a market cap of $19.64 billion, a PE ratio of -147.49, a P/E/G ratio of 10.99 and a beta of 2.09. The firm’s 50 day simple moving average is $75.56 and its 200 day simple moving average is $64.67.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The company had revenue of $581.00 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.12) earnings per share. On average, research analysts anticipate that Zillow Group will post -0.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Susan Daimler sold 3,694 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $73.98, for a total value of $273,282.12. Following the completion of the transaction, the insider now directly owns 18,770 shares of the company’s stock, valued at approximately $1,388,604.60. This trade represents a 16.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dan Spaulding sold 4,565 shares of Zillow Group stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $86.22, for a total transaction of $393,594.30. Following the completion of the transaction, the insider now owns 58,217 shares of the company’s stock, valued at $5,019,469.74. This represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 164,689 shares of company stock valued at $12,520,379 in the last 90 days. 17.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

A number of large investors have recently made changes to their positions in the stock. L & S Advisors Inc bought a new stake in Zillow Group during the 3rd quarter worth approximately $1,579,000. Mirabella Financial Services LLP bought a new position in shares of Zillow Group in the third quarter worth $11,351,000. JPMorgan Chase & Co. increased its holdings in shares of Zillow Group by 155.4% in the third quarter. JPMorgan Chase & Co. now owns 33,258 shares of the technology company’s stock worth $2,060,000 after purchasing an additional 20,238 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Zillow Group by 28.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 24,738 shares of the technology company’s stock worth $1,753,000 after buying an additional 5,539 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake 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 during the period. 20.32% of the stock is owned by 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.