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

Zillow Group (NASDAQ:ZG) had its price target hoisted by Evercore ISI from $75.00 to $90.00 in a research report released on Wednesday,Benzinga reports. Evercore ISI currently has an outperform rating on the technology company’s stock.

Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group lifted their price target on shares of Zillow Group from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Cantor Fitzgerald lifted their target price on Zillow Group from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday. Canaccord Genuity Group upped their price target on Zillow Group from $64.00 to $86.00 and gave the company a “hold” rating in a research report on Monday, December 2nd. Barclays raised their price objective on Zillow Group from $36.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Finally, KeyCorp upgraded Zillow Group from a “sector weight” rating to an “overweight” rating and set a $100.00 target price on the stock in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Zillow Group has a consensus rating of “Moderate Buy” and a consensus target price of $80.95.

Zillow Group Price Performance

Shares of ZG opened at $74.87 on Wednesday. The business has a 50-day simple moving average of $75.68 and a two-hundred day simple moving average of $65.73. Zillow Group has a 12-month low of $38.06 and a 12-month high of $86.58. The stock has a market cap of $17.49 billion, a PE ratio of -131.35, a PEG ratio of 15.65 and a beta of 2.09. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Tuesday, February 11th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. Analysts anticipate that Zillow Group will post -0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Zillow Group

In related news, CAO Jennifer Rock sold 8,225 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $73.05, for a total value of $600,836.25. Following the transaction, the chief accounting officer now directly owns 61,424 shares in the company, valued at $4,487,023.20. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jun Choo sold 10,000 shares of Zillow Group stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $75.10, for a total transaction of $751,000.00. Following the completion of the sale, the chief operating officer now directly owns 88,130 shares of the company’s stock, valued at approximately $6,618,563. The trade was a 10.19 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 142,730 shares of company stock valued at $10,896,034. Corporate insiders own 17.14% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Norges Bank bought a new position in shares of Zillow Group in the fourth quarter valued at approximately $165,326,000. Geode Capital Management LLC raised its position in Zillow Group by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,025,060 shares of the technology company’s stock valued at $63,523,000 after buying an additional 32,766 shares during the last quarter. State Street Corp lifted its stake in Zillow Group by 0.4% during the 3rd quarter. State Street Corp now owns 805,279 shares of the technology company’s stock valued at $49,871,000 after acquiring an additional 2,832 shares in the last quarter. Virtu Financial LLC boosted its holdings in Zillow Group by 101.3% during the 4th quarter. Virtu Financial LLC now owns 420,255 shares of the technology company’s stock worth $29,775,000 after acquiring an additional 211,482 shares during the last quarter. Finally, US Bancorp DE grew 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 worth $18,444,000 after acquiring an additional 18,136 shares in the last quarter. 20.32% of the stock is owned by institutional investors.

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.