Royal Bank of Canada Reiterates "Outperform" Rating for Zillow Group (NASDAQ:ZG)

Zillow Group (NASDAQ:ZG - Get Free Report)'s stock had its "outperform" rating reaffirmed by investment analysts at Royal Bank of Canada in a research note issued on Tuesday, Benzinga reports. They presently have a $66.00 target price on the technology company's stock. Royal Bank of Canada's target price suggests a potential upside of 12.51% from the stock's current price.

Other research analysts also recently issued reports about the company. Craig Hallum lifted their target price on Zillow Group from $51.00 to $55.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. UBS Group upped their price objective on shares of Zillow Group from $68.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, August 8th. Benchmark lifted their target price on shares of Zillow Group from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, August 8th. JMP Securities reissued a "market outperform" rating and set a $62.00 target price on shares of Zillow Group in a report on Wednesday, October 9th. Finally, Evercore ISI lifted their price objective on shares of Zillow Group from $50.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, Zillow Group currently has an average rating of "Moderate Buy" and an average target price of $61.53.

Zillow Group Stock Down 3.6 %

NASDAQ:ZG traded down $2.19 during trading hours on Tuesday, reaching $58.66. 406,828 shares of the stock were exchanged, compared to its average volume of 625,167. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12. Zillow Group has a twelve month low of $33.23 and a twelve month high of $66.75. The stock has a market cap of $13.85 billion, a PE ratio of -86.09 and a beta of 2.01. The firm has a 50 day moving average of $57.80 and a 200 day moving average of $49.02.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.31 by $0.08. The firm had revenue of $572.00 million for the quarter, compared to analysts' expectations of $538.36 million. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The company's revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) EPS. On average, equities analysts expect that Zillow Group will post -0.33 earnings per share for the current year.

Insider Activity

In other news, 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 transaction of $199,381.50. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Jennifer Rock sold 4,050 shares of Zillow Group stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $49.23, for a total transaction of $199,381.50. Following the transaction, the chief accounting officer now owns 79,694 shares in the company, valued at approximately $3,923,335.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy Bohutinsky sold 20,625 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the sale, the director now owns 5,652 shares of the company's stock, valued at $379,983.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 221,999 shares of company stock worth $11,780,363. Insiders own 17.14% of the company's stock.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Zillow Group by 27.4% during the fourth quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company's stock valued at $456,861,000 after acquiring an additional 1,730,731 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Zillow Group during the first quarter worth approximately $219,000. Naples Money Management LLC bought a new stake in Zillow Group in the first quarter worth approximately $1,230,000. Fidelis Capital Partners LLC acquired a new position in Zillow Group in the first quarter valued at approximately $32,000. Finally, Central Pacific Bank Trust Division bought a new position in shares of Zillow Group during the 1st quarter worth approximately $84,000. 20.32% of the stock is owned by institutional investors and hedge funds.

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.