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

Zillow Group (NASDAQ:ZG - Free Report) had its price target increased by Evercore ISI from $55.00 to $75.00 in a research report report published on Thursday,Benzinga reports. Evercore ISI currently has an outperform rating on the technology company's stock.

Other equities analysts have also issued reports about the stock. Barclays raised their target price on shares of Zillow Group from $35.00 to $36.00 and gave the company an "underweight" rating in a report on Thursday, August 8th. Benchmark boosted their price objective 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. Piper Sandler restated an "overweight" rating and set a $73.00 target price (up from $62.00) on shares of Zillow Group in a research note on Thursday. JMP Securities reiterated a "market outperform" rating and issued a $62.00 price target on shares of Zillow Group in a research note on Wednesday, October 9th. Finally, Craig Hallum upped their price objective on Zillow Group from $51.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Zillow Group has an average rating of "Moderate Buy" and a consensus price target of $65.28.

Zillow Group Stock Performance

Shares of Zillow Group stock traded up $14.01 during trading on Thursday, reaching $70.09. The company's stock had a trading volume of 1,572,748 shares, compared to its average volume of 624,261. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The business's 50-day moving average price is $58.92 and its 200-day moving average price is $50.17. Zillow Group has a 52 week low of $34.33 and a 52 week high of $71.28. The firm has a market cap of $16.22 billion, a PE ratio of -114.25 and a beta of 2.02.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.08. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The firm had revenue of $572.00 million for the quarter, compared to analyst estimates of $538.36 million. During the same quarter in the prior year, the business posted ($0.05) EPS. The business's revenue was up 13.0% compared to the same quarter last year. Equities analysts forecast that Zillow Group will post -0.33 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Lloyd D. Frink sold 150,000 shares of Zillow Group stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $50.83, for a total value of $7,624,500.00. Following the transaction, the chairman now directly owns 582 shares of the company's stock, valued at $29,583.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Jeremy Hofmann sold 4,729 shares of the business's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $52.85, for a total value of $249,927.65. Following the transaction, the chief financial officer now directly owns 118,394 shares of the company's stock, valued at $6,257,122.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Lloyd D. Frink sold 150,000 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $50.83, for a total value of $7,624,500.00. Following the sale, the chairman now directly owns 582 shares of the company's stock, valued at $29,583.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 217,949 shares of company stock valued at $11,580,982 in the last three months. Insiders own 17.14% of the company's stock.

Hedge Funds Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently modified their holdings of ZG. Mark Asset Management LP bought a new stake in Zillow Group in the 2nd quarter valued at about $4,524,000. Selkirk Management LLC increased its holdings in shares of Zillow Group by 37.4% during the second quarter. Selkirk Management LLC now owns 320,800 shares of the technology company's stock valued at $14,449,000 after acquiring an additional 87,300 shares in the last quarter. Garde Capital Inc. raised its position in shares of Zillow Group by 132.7% during the second quarter. Garde Capital Inc. now owns 139,805 shares of the technology company's stock worth $6,297,000 after purchasing an additional 79,733 shares during the period. US Bancorp DE lifted its holdings in shares of Zillow Group by 42.6% in the 1st quarter. US Bancorp DE now owns 246,020 shares of the technology company's stock worth $11,775,000 after purchasing an additional 73,504 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its position in Zillow Group by 93.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 142,917 shares of the technology company's stock valued at $8,851,000 after purchasing an additional 68,984 shares during the period. 20.32% of the stock is currently owned by institutional investors.

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.