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

Zillow Group (NASDAQ:ZG) had its target price increased by equities research analysts at DA Davidson from $75.00 to $90.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. DA Davidson’s price objective would indicate a potential upside of 19.36% from the company’s current price.

Several other brokerages also recently issued reports on ZG. UBS Group increased their price target on Zillow Group from $90.00 to $98.00 and gave the company a “buy” rating in a report on Monday, January 27th. Evercore ISI increased their price target on Zillow Group from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday. JMP Securities increased their price target on Zillow Group from $82.00 to $92.00 and gave the company a “market outperform” rating in a report on Monday, December 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $88.00 price target on shares of Zillow Group in a report on Wednesday. Finally, Robert W. Baird started coverage on Zillow Group in a research note on Friday, January 31st. They set a “neutral” rating and a $88.00 target price for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.00.

Zillow Group Trading Up 0.7 %

ZG stock opened at $75.40 on Wednesday. Zillow Group has a 52 week low of $38.06 and a 52 week high of $86.58. The company has a market cap of $17.61 billion, a price-to-earnings ratio of -132.28, a PEG ratio of 15.65 and a beta of 2.09. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11. The business has a fifty day simple moving average of $75.63 and a 200-day simple moving average of $65.79.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Tuesday, February 11th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. On average, equities research analysts expect that Zillow Group will post -0.42 EPS for the current year.

Insider Transactions at Zillow Group

In other Zillow Group news, COO Jun Choo sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $75.10, for a total value of $751,000.00. Following the transaction, the chief operating officer now owns 88,130 shares of the company’s stock, valued at $6,618,563. This trade represents a 10.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Errol G. Samuelson sold 17,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $73.57, for a total transaction of $1,250,690.00. Following the completion of the transaction, the insider now directly owns 22,739 shares in the company, valued at $1,672,908.23. This represents a 42.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,773 shares of company stock valued at $5,383,314. Insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

A number of large investors have recently bought and sold shares of ZG. Pilgrim Partners Asia Pte Ltd bought a new position in Zillow Group in the fourth quarter worth about $27,000. Blue Trust Inc. raised its holdings in shares of Zillow Group by 70.2% during the fourth quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock valued at $30,000 after buying an additional 172 shares during the last quarter. Asset Dedication LLC bought a new stake in shares of Zillow Group during the fourth quarter valued at approximately $47,000. Assetmark Inc. raised its holdings in shares of Zillow Group by 18,875.0% during the fourth quarter. Assetmark Inc. now owns 759 shares of the technology company’s stock valued at $54,000 after buying an additional 755 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of Zillow Group by 24.0% during the fourth quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock valued at $58,000 after buying an additional 159 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.