JMP Securities Issues Positive Forecast for Zillow Group (NASDAQ:ZG) Stock Price

Zillow Group (NASDAQ:ZG) had its price objective lifted by JMP Securities from $82.00 to $92.00 in a research report report published on Monday,Benzinga reports. JMP Securities currently has a market outperform rating on the technology company’s stock.

A number of other analysts have also recently issued reports on the company. Craig Hallum increased their price objective on Zillow Group from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Evercore ISI boosted their price objective on shares of Zillow Group from $55.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Royal Bank of Canada increased their target price on shares of Zillow Group from $66.00 to $74.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their price target on shares of Zillow Group from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, UBS Group increased their price objective on Zillow Group from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Zillow Group has an average rating of “Moderate Buy” and a consensus target price of $72.71.

Zillow Group Stock Performance

Shares of Zillow Group stock opened at $78.46 on Monday. Zillow Group has a one year low of $38.06 and a one year high of $83.67. The firm has a market capitalization of $18.33 billion, a price-to-earnings ratio of -137.65 and a beta of 2.08. The business has a 50-day simple moving average of $69.14 and a 200 day simple moving average of $57.22. 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 released its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $581.00 million during the quarter, compared to the consensus estimate of $555.45 million. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The company’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.12) EPS. On average, research analysts anticipate that Zillow Group will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Zillow Group

In related news, CTO David A. Beitel sold 56,750 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $72.39, for a total value of $4,108,132.50. Following the completion of the sale, the chief technology officer now owns 92 shares in the company, valued at approximately $6,659.88. The trade was a 99.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 directly owns 57,166 shares in the company, 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 have sold a total of 160,314 shares of company stock worth $11,782,498 in the last three months. Insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cynosure Group LLC purchased a new stake in shares of Zillow Group during the third quarter valued at about $12,248,000. Mirabella Financial Services LLP bought a new position in shares of Zillow Group during the 3rd quarter worth approximately $11,351,000. Philadelphia Financial Management of San Francisco LLC purchased a new stake in Zillow Group during the third quarter valued at approximately $9,813,000. Virtu Financial LLC boosted its stake in Zillow Group by 132.1% in the third quarter. Virtu Financial LLC now owns 208,773 shares of the technology company’s stock valued at $12,929,000 after acquiring an additional 118,830 shares in the last quarter. Finally, CreativeOne Wealth LLC grew its holdings in Zillow Group by 164.4% in the third quarter. CreativeOne Wealth LLC now owns 179,700 shares of the technology company’s stock worth $11,129,000 after purchasing an additional 111,743 shares during 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.