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

Zillow Group (NASDAQ:ZG) had its price target upped by Canaccord Genuity Group from $64.00 to $86.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 6.78% from the company’s current price.

Several other research firms have also recently commented on ZG. Evercore ISI raised their target price on Zillow Group from $55.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Susquehanna raised their price objective on Zillow Group from $55.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Craig Hallum boosted 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. Piper Sandler reiterated an “overweight” rating and issued a $73.00 price target (up previously from $62.00) on shares of Zillow Group in a report on Thursday, November 7th. Finally, Royal Bank of Canada upped their target price on Zillow Group from $66.00 to $74.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.94.

Zillow Group Price Performance

Shares of NASDAQ ZG traded down $0.99 during midday trading on Monday, reaching $80.54. 45,044 shares of the company traded hands, compared to its average volume of 618,889. The firm has a market cap of $18.81 billion, a PE ratio of -142.98 and a beta of 2.08. The stock’s 50-day simple moving average is $65.55 and its 200-day simple moving average is $54.26. Zillow Group has a 12 month low of $38.06 and a 12 month high of $83.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13.

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

Insider Buying and Selling

In other Zillow Group news, insider Susan Daimler sold 3,484 shares of the firm’s stock in a transaction 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 in the company, valued at $1,217,099.52. This trade represents a 13.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jeremy Hofmann sold 7,175 shares of Zillow Group stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $85.36, for a total value of $612,458.00. Following the sale, the chief financial officer now directly owns 99,362 shares of the company’s stock, valued at approximately $8,481,540.32. This represents a 6.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 160,439 shares of company stock worth $11,576,823 in the last quarter. 17.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Zillow Group

A number of large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Zillow Group by 4.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,501 shares of the technology company’s stock worth $1,556,000 after buying an additional 1,526 shares during the period. California State Teachers Retirement System boosted its position in Zillow Group by 169.9% during the 1st quarter. California State Teachers Retirement System now owns 24,773 shares of the technology company’s stock worth $1,186,000 after purchasing an additional 15,594 shares during the period. Wedmont Private Capital boosted its position in Zillow Group by 4.2% during the 2nd quarter. Wedmont Private Capital now owns 12,483 shares of the technology company’s stock worth $610,000 after purchasing an additional 504 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in Zillow Group by 24.7% in the 2nd 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. Finally, Raymond James & Associates lifted its position in shares of 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 last quarter. 20.32% of the stock is currently owned by hedge funds and other 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.