Zillow Group (NASDAQ:ZG) Price Target Raised to $95.00

Zillow Group (NASDAQ:ZG) had its price target upped by analysts at Craig Hallum from $70.00 to $95.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Craig Hallum’s target price suggests a potential upside of 16.45% from the stock’s previous close.

Several other analysts have also issued reports on ZG. UBS Group increased their target price on Zillow Group from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Piper Sandler reissued an “overweight” rating and issued a $73.00 target price (up from $62.00) on shares of Zillow Group in a report on Thursday, November 7th. Wedbush raised shares of Zillow Group from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $50.00 to $80.00 in a report on Monday, September 16th. Cantor Fitzgerald reissued a “neutral” rating and issued a $47.00 price objective on shares of Zillow Group in a research note on Monday, October 7th. Finally, Barclays upped their target price on Zillow Group from $36.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $69.65.

Zillow Group Stock Performance

Shares of NASDAQ ZG traded down $0.29 during mid-day trading on Wednesday, reaching $81.58. 104,730 shares of the company were exchanged, compared to its average volume of 622,013. The stock has a market capitalization of $19.05 billion, a P/E ratio of -143.12 and a beta of 2.02. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11. The company’s 50-day simple moving average is $64.08 and its 200-day simple moving average is $53.16. Zillow Group has a twelve month low of $38.06 and a twelve month high of $83.25.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The firm had revenue of $581.00 million for the quarter, compared to analyst estimates of $555.45 million. During the same period in the prior year, the firm posted ($0.12) EPS. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. As a group, research analysts predict that Zillow Group will post -0.33 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Susan Daimler sold 3,484 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $54.18, for a total transaction of $188,763.12. Following the transaction, the insider now directly owns 22,464 shares of the company’s stock, valued at approximately $1,217,099.52. This represents a 13.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy Bohutinsky sold 20,625 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the transaction, the director now owns 5,652 shares in the company, valued at approximately $379,983.96. The trade was a 78.49 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 153,264 shares of company stock worth $10,964,365. Company 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. Future Financial Wealth Managment LLC bought a new position in shares of Zillow Group in the third quarter valued at approximately $29,000. Signaturefd LLC raised its position in Zillow Group by 29.7% in the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock valued at $71,000 after buying an additional 360 shares during the last quarter. GAMMA Investing LLC lifted its stake in Zillow Group by 86.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock valued at $75,000 after acquiring an additional 561 shares in the last quarter. Pinpoint Asset Management Ltd purchased a new position in Zillow Group during the 3rd quarter worth $95,000. Finally, Maryland State Retirement & Pension System bought a new stake in shares of Zillow Group in the 2nd quarter worth $202,000. 20.32% of the stock is owned by institutional investors.

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.