The Goldman Sachs Group Forecasts Strong Price Appreciation for Zillow Group (NASDAQ:ZG) Stock

Zillow Group (NASDAQ:ZG) had its price target raised by research analysts at The Goldman Sachs Group from $42.00 to $47.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 34.04% from the stock’s current price.

A number of other brokerages have also recently weighed in on ZG. Evercore ISI lifted their price target on Zillow Group from $55.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday. UBS Group lifted their target price on shares of Zillow Group from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Wedbush upgraded shares of Zillow Group from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $50.00 to $80.00 in a report on Monday, September 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $73.00 price objective (up previously from $62.00) on shares of Zillow Group in a research note on Thursday. Finally, DA Davidson lifted their price objective on shares of Zillow Group from $52.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. One 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, the company currently has an average rating of “Moderate Buy” and an average target price of $66.06.

Zillow Group Trading Up 1.7 %

Zillow Group stock opened at $71.26 on Thursday. The firm has a market cap of $16.49 billion, a price-to-earnings ratio of -125.02 and a beta of 2.02. Zillow Group has a 1 year low of $34.33 and a 1 year high of $72.03. The firm’s 50 day moving average price is $59.60 and its two-hundred day moving average price is $50.51. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.12 and a current ratio of 2.12.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.08. The business had revenue of $572.00 million for the quarter, compared to analysts’ expectations of $538.36 million. Zillow Group had a negative return on equity of 2.34% and a negative net margin of 6.17%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) EPS. On average, research analysts predict that Zillow Group will post -0.33 EPS for the current fiscal year.

Insider Activity at Zillow Group

In other news, Director Amy Bohutinsky sold 20,625 shares of the 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 transaction, the director now 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 document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Amy Bohutinsky sold 20,625 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the sale, the director now directly owns 5,652 shares in the company, valued at approximately $379,983.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Dan Spaulding sold 2,991 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $53.18, for a total value of $159,061.38. Following the transaction, the insider now owns 70,342 shares in the company, valued at approximately $3,740,787.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,596 shares of company stock valued at $3,938,581. 17.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

Large investors have recently added to or reduced their stakes in the stock. Mark Asset Management LP bought a new position in shares of Zillow Group in the second quarter worth about $4,524,000. Selkirk Management LLC increased its position in Zillow Group by 37.4% in the 2nd quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock worth $14,449,000 after buying an additional 87,300 shares during the period. Garde Capital Inc. boosted its position in shares of Zillow Group by 132.7% in the second quarter. Garde Capital Inc. now owns 139,805 shares of the technology company’s stock valued at $6,297,000 after acquiring an additional 79,733 shares during the period. US Bancorp DE grew its stake in shares of Zillow Group by 42.6% in the first quarter. US Bancorp DE now owns 246,020 shares of the technology company’s stock worth $11,775,000 after acquiring an additional 73,504 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of Zillow Group by 93.3% in the third quarter. Thrivent Financial for Lutherans now owns 142,917 shares of the technology company’s stock worth $8,851,000 after acquiring an additional 68,984 shares during the last quarter. 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.