Zillow Group (NASDAQ:ZG) Price Target Raised to $47.00

Zillow Group (NASDAQ:ZG - Free Report) had its price objective hoisted by The Goldman Sachs Group from $42.00 to $47.00 in a report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the technology company's stock.

A number of other research firms have also issued reports on ZG. Cantor Fitzgerald reissued a "neutral" rating and set a $47.00 target price on shares of Zillow Group in a research note on Monday, October 7th. Evercore ISI raised their price objective on shares of Zillow Group from $55.00 to $75.00 and gave the stock an "outperform" rating in a research note on Thursday. Royal Bank of Canada reiterated an "outperform" rating and set a $66.00 price target on shares of Zillow Group in a report on Tuesday, October 22nd. JMP Securities reaffirmed a "market outperform" rating and set a $62.00 target price on shares of Zillow Group in a research note on Wednesday, October 9th. Finally, Benchmark increased their price target on shares of Zillow Group from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $65.28.

Zillow Group Stock Performance

NASDAQ ZG traded up $14.01 during trading hours 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 current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11. The business has a 50-day simple moving average of $59.25 and a 200 day simple moving average of $50.30. Zillow Group has a 52 week low of $34.33 and a 52 week high of $71.28. The stock has a market cap of $16.22 billion, a PE ratio of -114.90 and a beta of 2.02.

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

Insider Buying and Selling at Zillow Group

In related news, Director Amy Bohutinsky sold 20,625 shares of the business's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the transaction, the director now directly owns 5,652 shares in the company, valued at $379,983.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Zillow Group news, Director Amy Bohutinsky sold 20,625 shares of the business's 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 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Dan Spaulding sold 2,991 shares of the firm's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $53.18, for a total transaction of $159,061.38. Following the transaction, the insider now directly owns 70,342 shares of the company's stock, valued at $3,740,787.56. The trade was a 0.00 % decrease in their ownership of the stock. 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 ninety days. Company insiders own 17.14% of the company's stock.

Institutional Investors Weigh In On Zillow Group

Several institutional investors and hedge funds have recently made changes to their positions in ZG. Edgestream Partners L.P. boosted its holdings in shares of Zillow Group by 140.6% in the 1st quarter. Edgestream Partners L.P. now owns 20,735 shares of the technology company's stock worth $992,000 after acquiring an additional 12,116 shares in the last quarter. US Bancorp DE boosted its stake in Zillow Group by 42.6% in the first 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. Jacobs Levy Equity Management Inc. bought a new stake in shares of Zillow Group during the first quarter worth $1,597,000. Russell Investments Group Ltd. increased its stake in shares of Zillow Group by 148.6% in the first quarter. Russell Investments Group Ltd. now owns 31,934 shares of the technology company's stock valued at $1,528,000 after buying an additional 19,087 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in shares of Zillow Group by 24.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 49,569 shares of the technology company's stock valued at $2,233,000 after buying an additional 9,828 shares during the last quarter. Institutional investors and hedge funds own 20.32% of the company's stock.

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.