Zillow Group (NASDAQ:ZG) Price Target Raised to $71.00 at DA Davidson

Zillow Group (NASDAQ:ZG) had its price target boosted by stock analysts at DA Davidson from $52.00 to $71.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. DA Davidson’s target price indicates a potential upside of 8.95% from the company’s current price.

A number of other brokerages have also commented on ZG. Royal Bank of Canada raised their price objective on shares of Zillow Group from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Wedbush upgraded shares of Zillow Group from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $50.00 to $80.00 in a report on Monday, September 16th. Craig Hallum raised their price objective on shares of Zillow Group from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. UBS Group lifted their price target on shares of Zillow Group from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Citigroup lifted their price target on shares of Zillow Group from $58.00 to $62.00 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, four have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.94.

Zillow Group Price Performance

ZG opened at $65.17 on Wednesday. Zillow Group has a one year low of $33.23 and a one year high of $66.75. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12. The company’s 50 day simple moving average is $52.34 and its 200-day simple moving average is $47.38. The stock has a market capitalization of $15.08 billion, a P/E ratio of -94.45 and a beta of 2.00.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The firm had revenue of $572.00 million for the quarter, compared to analysts’ expectations of $538.36 million. During the same period last year, the firm earned ($0.05) earnings per share. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. Sell-side analysts anticipate that Zillow Group will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Dan Spaulding sold 2,991 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $53.18, for a total transaction of $159,061.38. Following the completion of the transaction, the insider now directly owns 70,342 shares in the company, valued at approximately $3,740,787.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Zillow Group news, Director Amy Bohutinsky sold 20,625 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the sale, the director now directly owns 5,652 shares of the company’s stock, valued at approximately $379,983.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dan Spaulding sold 2,991 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $53.18, for a total transaction of $159,061.38. Following the sale, the insider now directly owns 70,342 shares in the company, valued at $3,740,787.56. The disclosure for this sale can be found here. Insiders sold a total of 221,999 shares of company stock worth $11,780,363 in the last three months. 17.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors have recently added to or reduced their stakes in ZG. Vanguard Group Inc. boosted its stake in shares of Zillow Group by 27.4% in the 4th quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock valued at $456,861,000 after purchasing an additional 1,730,731 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Zillow Group by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 441,800 shares of the technology company’s stock valued at $19,901,000 after purchasing an additional 35,503 shares during the last quarter. UBS Group AG boosted its stake in shares of Zillow Group by 73.0% in the 4th quarter. UBS Group AG now owns 420,170 shares of the technology company’s stock valued at $23,832,000 after purchasing an additional 177,265 shares during the last quarter. Selkirk Management LLC boosted its stake in shares of Zillow Group by 37.4% in the 2nd quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock valued at $14,449,000 after purchasing an additional 87,300 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of Zillow Group by 42.6% in the 1st quarter. US Bancorp DE now owns 246,020 shares of the technology company’s stock valued at $11,775,000 after purchasing an additional 73,504 shares during the last quarter. 20.32% of the stock is owned by institutional investors.

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.