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

Zillow Group (NASDAQ:ZG) had its price target raised by Craig Hallum from $70.00 to $95.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Craig Hallum’s price objective indicates a potential upside of 15.39% from the company’s current price.

Several other analysts also recently commented on ZG. Benchmark increased their target price on shares of Zillow Group from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Barclays increased their price objective on shares of Zillow Group from $36.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. Wedbush upgraded Zillow Group from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $50.00 to $80.00 in a research note on Monday, September 16th. JMP Securities upped their target price on Zillow Group from $62.00 to $82.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. Finally, Piper Sandler reiterated an “overweight” rating and set a $73.00 price target (up from $62.00) on shares of Zillow Group in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.65.

Zillow Group Stock Up 0.6 %

Shares of NASDAQ:ZG opened at $82.33 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13. Zillow Group has a 52-week low of $38.06 and a 52-week high of $83.25. The business’s 50 day simple moving average is $64.89 and its two-hundred day simple moving average is $53.64. The firm has a market cap of $19.23 billion, a P/E ratio of -144.44 and a beta of 2.02.

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 the consensus estimate of $0.32 by $0.03. The firm had revenue of $581.00 million for the quarter, compared to the consensus estimate of $555.45 million. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. The business’s revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.12) earnings per share. As a group, research analysts forecast that Zillow Group will post -0.33 EPS for the current fiscal year.

Insider Transactions at Zillow Group

In related news, Director Erik C. Blachford sold 1,413 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $54.87, for a total transaction of $77,531.31. Following the transaction, the director now directly owns 35,403 shares of the company’s stock, valued at approximately $1,942,562.61. This trade represents a 3.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Jennifer Rock sold 3,187 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $74.00, for a total value of $235,838.00. Following the completion of the sale, the chief accounting officer now directly owns 69,649 shares of the company’s stock, valued at approximately $5,154,026. This represents a 4.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 160,439 shares of company stock valued at $11,576,823. 17.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ZG. Future Financial Wealth Managment LLC purchased a new stake in shares of Zillow Group during the third quarter valued at approximately $29,000. Signaturefd LLC grew its holdings in Zillow Group by 29.7% in the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock worth $71,000 after acquiring an additional 360 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Zillow Group by 86.7% in the third 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. Pinpoint Asset Management Ltd bought a new position in shares of Zillow Group during the third quarter valued at about $95,000. Finally, Maryland State Retirement & Pension System purchased a new stake in shares of Zillow Group during the second quarter worth about $202,000. 20.32% of the stock is 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.