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

Zillow Group (NASDAQ:ZG) had its price objective raised by equities research analysts at Evercore ISI from $75.00 to $90.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Evercore ISI’s price objective indicates a potential upside of 19.36% from the stock’s current price.

Several other analysts have also issued reports on the company. Piper Sandler dropped their target price on Zillow Group from $93.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday. Royal Bank of Canada upped their target price on Zillow Group from $66.00 to $74.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Barclays upped their target price on Zillow Group from $36.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Cantor Fitzgerald upped their target price on Zillow Group from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Canaccord Genuity Group boosted their price target on Zillow Group from $64.00 to $86.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.00.

Zillow Group Stock Performance

Shares of Zillow Group stock opened at $75.40 on Wednesday. Zillow Group has a one year low of $38.06 and a one year high of $86.58. The firm has a market cap of $17.61 billion, a price-to-earnings ratio of -132.28, a price-to-earnings-growth ratio of 15.65 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. The stock’s 50-day moving average is $75.63 and its 200-day moving average is $65.79.

Zillow Group (NASDAQ:ZG) last released its 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 return on equity of 2.33% and a negative net margin of 6.17%. Equities analysts predict that Zillow Group will post -0.42 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Jun Choo sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 approximately $6,618,563. This represents a 10.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dan Spaulding sold 4,565 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $86.22, for a total value of $393,594.30. Following the completion of the sale, the insider now owns 58,217 shares of the company’s stock, valued at approximately $5,019,469.74. This trade represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,773 shares of company stock valued at $5,383,314. 17.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Zillow Group

Several institutional investors have recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC boosted its stake in shares of Zillow Group by 13.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,191 shares of the technology company’s stock valued at $84,000 after buying an additional 138 shares during the period. Jones Financial Companies Lllp lifted its stake in Zillow Group by 24.0% during the fourth quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock worth $58,000 after purchasing an additional 159 shares during the last quarter. Blue Trust Inc. lifted its stake in Zillow Group by 70.2% during the fourth quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock worth $30,000 after purchasing an additional 172 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in Zillow Group during the fourth quarter worth $27,000. Finally, Creative Planning lifted its stake in Zillow Group by 7.2% during the third quarter. Creative Planning now owns 6,537 shares of the technology company’s stock worth $405,000 after purchasing an additional 439 shares during 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.