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

Zillow Group (NASDAQ:ZG) had its price target increased by equities research analysts at Benchmark from $80.00 to $100.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Benchmark’s target price points to a potential upside of 18.95% from the stock’s current price.

A number of other research analysts also recently issued reports on ZG. Piper Sandler boosted their price target on Zillow Group from $73.00 to $93.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Evercore ISI boosted their target price on shares of Zillow Group from $55.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. UBS Group upped their price objective on shares of Zillow Group from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. The Goldman Sachs Group raised their target price on Zillow Group from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Susquehanna raised their price objective on Zillow Group from $55.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.00.

Zillow Group Trading Up 1.2 %

Shares of ZG opened at $84.07 on Wednesday. The firm has a market capitalization of $19.64 billion, a price-to-earnings ratio of -147.49, a PEG ratio of 10.99 and a beta of 2.09. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.13 and a quick ratio of 3.13. Zillow Group has a 1-year low of $38.06 and a 1-year high of $84.96. The company has a 50-day moving average of $75.56 and a 200 day moving average of $64.67.

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, topping analysts’ consensus estimates of $0.32 by $0.03. The company had revenue of $581.00 million during the quarter, compared to analyst estimates of $555.45 million. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.12) earnings per share. On average, research analysts expect that Zillow Group will post -0.36 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Jeremy Hofmann sold 23,388 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $84.98, for a total transaction of $1,987,512.24. Following the completion of the sale, the chief financial officer now owns 99,362 shares in the company, valued at $8,443,782.76. The trade was a 19.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Susan Daimler sold 3,694 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $73.98, for a total transaction of $273,282.12. Following the sale, the insider now directly owns 18,770 shares of the company’s stock, valued at approximately $1,388,604.60. This trade represents a 16.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 164,689 shares of company stock valued at $12,520,379 over the last 90 days. 17.14% of the stock is currently owned by company insiders.

Institutional Trading of Zillow Group

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in Zillow Group by 86.7% in 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 during the period. Future Financial Wealth Managment LLC bought a new position in shares of Zillow Group during the third quarter worth approximately $29,000. CWM LLC raised its holdings in Zillow Group by 18.6% in the 3rd quarter. CWM LLC now owns 34,258 shares of the technology company’s stock valued at $2,122,000 after acquiring an additional 5,377 shares in the last quarter. Creative Planning increased its holdings in Zillow Group by 7.2% in the 3rd quarter. Creative Planning now owns 6,537 shares of the technology company’s stock valued at $405,000 after buying an additional 439 shares during the period. Finally, Vontobel Holding Ltd. raised its position in Zillow Group by 4.8% during the third quarter. Vontobel Holding Ltd. now owns 16,407 shares of the technology company’s stock valued at $1,016,000 after purchasing an additional 750 shares in the last quarter. 20.32% of the stock is currently 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.