Zillow Group (NASDAQ:ZG) Stock Price Expected to Rise, JMP Securities Analyst Says

Zillow Group (NASDAQ:ZG - Get Free Report) had its target price lifted by research analysts at JMP Securities from $62.00 to $82.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "market outperform" rating on the technology company's stock. JMP Securities' target price indicates a potential upside of 17.03% from the company's previous close.

A number of other research firms have also recently commented on ZG. Barclays upped their price target on shares of Zillow Group from $35.00 to $36.00 and gave the stock an "underweight" rating in a report on Thursday, August 8th. Citigroup upped their target price on Zillow Group from $58.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. The Goldman Sachs Group lifted their target price on shares of Zillow Group from $42.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday. UBS Group raised their price target on shares of Zillow Group from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. Finally, Piper Sandler restated an "overweight" rating and issued a $73.00 price objective (up from $62.00) on shares of Zillow Group in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Zillow Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.28.

Zillow Group Stock Performance

NASDAQ ZG traded up $13.99 on Thursday, hitting $70.07. 1,153,843 shares of the company traded hands, compared to its average volume of 622,146. Zillow Group has a 52-week low of $34.33 and a 52-week high of $70.47. 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 company has a market capitalization of $16.22 billion, a price-to-earnings ratio of -114.25 and a beta of 2.02. The business's 50 day moving average price is $58.92 and its 200-day moving average price is $50.17.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.08. The firm had revenue of $572.00 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.05) earnings per share. Equities analysts expect that Zillow Group will post -0.33 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Amy Bohutinsky sold 20,625 shares of the stock in a transaction dated Wednesday, September 18th. The shares were 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Amy Bohutinsky sold 20,625 shares of Zillow Group stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Lloyd D. Frink sold 150,000 shares of the 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 in the company, valued at approximately $29,583.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 217,949 shares of company stock valued at $11,580,982. Company insiders own 17.14% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in shares of Zillow Group by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 441,800 shares of the technology company's stock valued at $19,901,000 after purchasing an additional 35,503 shares during the last quarter. Selkirk Management LLC increased its holdings in shares of Zillow Group by 37.4% during the 2nd 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 during the last quarter. US Bancorp DE raised its stake in shares of Zillow Group by 6.5% in the 3rd quarter. US Bancorp DE now owns 297,819 shares of the technology company's stock valued at $18,444,000 after acquiring an additional 18,136 shares in the last quarter. Raymond James & Associates boosted its position in Zillow Group by 7.0% during the second quarter. Raymond James & Associates now owns 193,023 shares of the technology company's stock worth $8,694,000 after purchasing an additional 12,616 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Zillow Group by 4.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 162,647 shares of the technology company's stock valued at $7,326,000 after buying an additional 7,311 shares during the last quarter. Hedge funds and other institutional investors 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.

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