Zillow Group (NASDAQ:ZG) Price Target Raised to $92.00

Zillow Group (NASDAQ:ZG) had its target price upped by stock analysts at JMP Securities from $82.00 to $92.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “market outperform” rating on the technology company’s stock. JMP Securities’ price objective points to a potential upside of 19.73% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. Royal Bank of Canada increased their target price on Zillow Group from $66.00 to $74.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $47.00 price objective on shares of Zillow Group in a research note on Monday, October 7th. The Goldman Sachs Group raised their target price on Zillow Group from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Canaccord Genuity Group lifted their target price on Zillow Group from $64.00 to $86.00 and gave the company a “hold” rating in a report on Monday, December 2nd. Finally, Susquehanna increased their price target on shares of Zillow Group from $55.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $72.71.

Zillow Group Price Performance

Zillow Group stock opened at $76.84 on Monday. The business’s 50 day simple moving average is $68.74 and its 200 day simple moving average is $56.94. Zillow Group has a 12 month low of $38.06 and a 12 month high of $83.67. The company has a market cap of $17.95 billion, a price-to-earnings ratio of -134.81 and a beta of 2.08. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:ZG) last posted its earnings results 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. The firm had revenue of $581.00 million during the quarter, compared to the consensus estimate of $555.45 million. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. The company’s revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.12) earnings per share. Sell-side analysts forecast that Zillow Group will post -0.34 EPS for the current year.

Insiders Place Their Bets

In other news, Director Amy Bohutinsky sold 20,625 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 5,652 shares in the company, valued at approximately $379,983.96. This represents a 78.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jennifer Rock sold 3,033 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $82.78, for a total value of $251,071.74. Following the completion of the sale, the chief accounting officer now owns 57,166 shares of the company’s stock, valued at approximately $4,732,201.48. This trade represents a 5.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 160,314 shares of company stock valued at $11,782,498. 17.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Future Financial Wealth Managment LLC bought a new position in Zillow Group in the third quarter worth $29,000. Signaturefd LLC grew its position in shares of Zillow Group by 29.7% in the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock worth $71,000 after buying an additional 360 shares during the period. GAMMA Investing LLC increased its stake in shares of Zillow Group by 86.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock worth $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 valued at about $95,000. Finally, Maryland State Retirement & Pension System bought a new stake in Zillow Group during the second quarter worth about $202,000. Hedge funds and other 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.