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

Zillow Group (NASDAQ:ZG) had its target price upped by stock analysts at Citigroup from $95.00 to $98.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Citigroup’s target price suggests a potential upside of 27.45% from the company’s current price.

Several other equities analysts have also issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $88.00 price target on shares of Zillow Group in a research note on Wednesday. Baird R W raised Zillow Group to a “hold” rating in a research note on Friday, January 31st. JMP Securities boosted their price target on Zillow Group from $82.00 to $92.00 and gave the company a “market outperform” rating in a research note on Monday, December 16th. Benchmark boosted their price target on Zillow Group from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Finally, Stephens reaffirmed an “overweight” rating and set a $73.00 target price on shares of Zillow Group in a research report on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Zillow Group Stock Performance

Shares of ZG stock opened at $76.89 on Thursday. The business’s 50 day simple moving average is $75.58 and its 200 day simple moving average is $65.99. Zillow Group has a one year low of $38.06 and a one year high of $86.58. The stock has a market capitalization of $17.96 billion, a PE ratio of -134.89, a PEG 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.

Zillow Group (NASDAQ:ZG) last issued 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%. As a group, research analysts forecast that Zillow Group will post -0.42 earnings per share for the current year.

Insider Buying and Selling at Zillow Group

In other news, insider Errol G. Samuelson sold 6,967 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.72, for a total transaction of $541,475.24. Following the completion of the transaction, the insider now owns 127,467 shares in the company, valued at approximately $9,906,735.24. This represents a 5.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jennifer Rock sold 3,033 shares of the stock in a transaction 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 transaction, the chief accounting officer now owns 57,166 shares of the company’s stock, valued at $4,732,201.48. The trade was a 5.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,838 shares of company stock worth $6,619,079 in the last quarter. 17.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC grew its stake in shares of Zillow Group by 2,728.0% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 96,801 shares of the technology company’s stock worth $6,858,000 after acquiring an additional 93,378 shares during the period. Northern Trust Corp grew its stake in shares of Zillow Group by 2.5% during the 4th quarter. Northern Trust Corp now owns 247,078 shares of the technology company’s stock worth $17,505,000 after acquiring an additional 6,088 shares during the period. Empire Financial Management Company LLC bought a new position in shares of Zillow Group during the 4th quarter worth $1,771,000. Price T Rowe Associates Inc. MD lifted its holdings in Zillow Group by 8.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 35,993 shares of the technology company’s stock worth $2,551,000 after purchasing an additional 2,673 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in Zillow Group by 35.8% during the 4th quarter. Hsbc Holdings PLC now owns 6,454 shares of the technology company’s stock worth $457,000 after purchasing an additional 1,703 shares in the last quarter. Institutional investors own 20.32% of the company’s stock.

Zillow Group Company Profile

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.