Zillow Group (NASDAQ:ZG) Price Target Increased to $71.00 by Analysts at DA Davidson

Zillow Group (NASDAQ:ZG) had its price objective lifted by DA Davidson from $52.00 to $71.00 in a research note published on Wednesday morning, Benzinga reports. DA Davidson currently has a buy rating on the technology company’s stock.

Several other research firms have also issued reports on ZG. Cantor Fitzgerald reaffirmed a neutral rating and issued a $47.00 price target on shares of Zillow Group in a research report on Monday, September 23rd. UBS Group lifted their price target on Zillow Group from $68.00 to $70.00 and gave the stock a buy rating in a research report on Thursday, August 8th. Craig Hallum lifted their price objective on Zillow Group from $51.00 to $55.00 and gave the stock a buy rating in a report on Thursday, August 8th. Citigroup lifted their price objective on Zillow Group from $58.00 to $62.00 and gave the stock a buy rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada lifted their price objective on Zillow Group from $60.00 to $66.00 and gave the stock an outperform rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $60.94.

Zillow Group Stock Performance

Shares of Zillow Group stock opened at $63.48 on Wednesday. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $14.99 billion, a P/E ratio of -92.00 and a beta of 2.00. The business has a fifty day simple moving average of $53.17 and a two-hundred day simple moving average of $47.62. Zillow Group has a 12 month low of $33.23 and a 12 month high of $66.75.

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

Insider Activity

In related news, Director Thielke Claire Cormier sold 2,826 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $61.11, for a total value of $172,696.86. Following the completion of the sale, the director now directly owns 2,826 shares of the company’s stock, valued at approximately $172,696.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Zillow Group news, Director Thielke Claire Cormier sold 2,826 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $61.11, for a total value of $172,696.86. Following the completion of the transaction, the director now directly owns 2,826 shares in the company, valued at approximately $172,696.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Lloyd D. Frink sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $50.83, for a total value of $7,624,500.00. Following the completion of the transaction, the chairman now owns 582 shares of the company’s stock, valued at $29,583.06. The disclosure for this sale can be found here. Insiders sold 221,999 shares of company stock valued at $11,780,363 in the last quarter. 17.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Fidelis Capital Partners LLC bought a new position in shares of Zillow Group during the 1st quarter valued at approximately $32,000. EntryPoint Capital LLC bought a new stake in Zillow Group in the first quarter worth $53,000. Signaturefd LLC lifted its position in Zillow Group by 29.7% in the second quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock worth $71,000 after buying an additional 360 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in Zillow Group in the first quarter worth $84,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Zillow Group in the first quarter worth $118,000. 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.