Piper Sandler Forecasts Strong Price Appreciation for Zillow Group (NASDAQ:ZG) Stock

Zillow Group (NASDAQ:ZG) had its target price upped by Piper Sandler from $73.00 to $93.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Piper Sandler’s target price suggests a potential upside of 17.31% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. Wedbush raised shares of Zillow Group from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $50.00 to $80.00 in a research report on Monday, September 16th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $47.00 target price on shares of Zillow Group in a report on Monday, October 7th. Craig Hallum upped their price target on shares of Zillow Group from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Susquehanna lifted their price objective on Zillow Group from $55.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Finally, Benchmark increased their target price on Zillow Group from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.12.

Zillow Group Trading Up 1.3 %

Shares of NASDAQ:ZG opened at $79.28 on Friday. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $18.52 billion, a PE ratio of -139.09 and a beta of 2.08. Zillow Group has a 1 year low of $38.06 and a 1 year high of $83.67. The firm has a fifty day moving average price of $67.11 and a 200 day moving average price of $55.46.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $581.00 million during the quarter, compared to the consensus estimate of $555.45 million. During the same quarter in the prior year, the company posted ($0.12) EPS. The firm’s revenue was up 17.1% on a year-over-year basis. Analysts expect that Zillow Group will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling at Zillow Group

In other news, Director Amy Bohutinsky sold 20,625 shares of the company’s 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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Susan Daimler sold 3,484 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $54.18, for a total value of $188,763.12. Following the completion of the transaction, the insider now directly owns 22,464 shares of the company’s stock, valued at approximately $1,217,099.52. The trade was a 13.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 163,591 shares of company stock valued at $11,892,886 in the last 90 days. 17.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zillow Group

Several large investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in Zillow Group by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,025,060 shares of the technology company’s stock worth $63,523,000 after acquiring an additional 32,766 shares during the last quarter. State Street Corp boosted its stake in Zillow Group by 0.4% in the third quarter. State Street Corp now owns 805,279 shares of the technology company’s stock worth $49,871,000 after purchasing an additional 2,832 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Zillow Group by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 441,800 shares of the technology company’s stock worth $19,901,000 after purchasing an additional 35,503 shares in the last quarter. Selkirk Management LLC grew its holdings in shares of Zillow Group by 37.4% during the second quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock worth $14,449,000 after purchasing an additional 87,300 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of Zillow Group by 6.5% in the third quarter. US Bancorp DE now owns 297,819 shares of the technology company’s stock valued at $18,444,000 after buying an additional 18,136 shares in 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.