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

Zillow Group (NASDAQ:ZG) had its price target lifted by analysts at Benchmark from $80.00 to $100.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Benchmark’s price target points to a potential upside of 21.58% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Robert W. Baird initiated coverage on shares of Zillow Group in a report on Friday, January 31st. They set a “neutral” rating and a $88.00 price target on the stock. Craig Hallum upped their price objective on Zillow Group from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Canaccord Genuity Group increased their price target on Zillow Group from $64.00 to $86.00 and gave the stock a “hold” rating in a report on Monday, December 2nd. JMP Securities increased their target price on Zillow Group from $82.00 to $92.00 and gave the company a “market outperform” rating in a research report on Monday, December 16th. Finally, UBS Group raised their price objective on Zillow Group from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.00.

Zillow Group Stock Performance

Shares of ZG traded up $0.58 during mid-day trading on Wednesday, hitting $82.25. The stock had a trading volume of 101,433 shares, compared to its average volume of 366,016. The firm has a market cap of $19.21 billion, a P/E ratio of -144.46, a PEG ratio of 10.99 and a beta of 2.09. Zillow Group has a 52 week low of $38.06 and a 52 week high of $83.67. 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 business has a fifty day moving average price of $75.51 and a 200-day moving average price of $64.40.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. The company had revenue of $581.00 million for the quarter, compared to analysts’ expectations of $555.45 million. During the same period in the prior year, the business earned ($0.12) earnings per share. Zillow Group’s revenue for the quarter was up 17.1% compared to the same quarter last year. On average, equities research analysts expect that Zillow Group will post -0.36 EPS for the current year.

Insider Transactions at Zillow Group

In related news, CTO David A. Beitel sold 56,750 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $72.39, for a total value of $4,108,132.50. Following the completion of the sale, the chief technology officer now directly owns 92 shares of the company’s stock, valued at $6,659.88. The trade was a 99.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Bradley D. Owens sold 1,212 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $73.98, for a total value of $89,663.76. Following the completion of the sale, the general counsel now directly owns 31,739 shares of the company’s stock, valued at approximately $2,348,051.22. This represents a 3.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 164,689 shares of company stock worth $12,520,379 over the last quarter. 17.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. L & S Advisors Inc purchased a new stake in shares of Zillow Group during the third quarter valued at $1,579,000. Mirabella Financial Services LLP acquired a new position in Zillow Group in the 3rd quarter worth about $11,351,000. JPMorgan Chase & Co. increased its position in Zillow Group by 155.4% in the 3rd 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 last quarter. Assenagon Asset Management S.A. increased its position in Zillow Group by 28.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 24,738 shares of the technology company’s stock worth $1,753,000 after purchasing an additional 5,539 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Zillow Group by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,025,060 shares of the technology company’s stock worth $63,523,000 after acquiring an additional 32,766 shares in the last quarter. Institutional investors own 20.32% of the company’s stock.

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.