Zillow Group, Inc. (NASDAQ:ZG) Receives $82.45 Average Target Price from Brokerages

Shares of Zillow Group, Inc. (NASDAQ:ZG) have earned a consensus rating of “Hold” from the twenty-three ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $82.45.

A number of equities analysts recently commented on the company. Wells Fargo & Company raised their target price on Zillow Group from $60.00 to $75.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. William Blair assumed coverage on Zillow Group in a report on Monday, April 21st. They issued a “market perform” rating on the stock. Piper Sandler raised their target price on Zillow Group from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Canaccord Genuity Group cut their price target on Zillow Group from $86.00 to $76.00 and set a “hold” rating for the company in a research note on Monday, May 5th. Finally, Benchmark cut their price target on Zillow Group from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, May 8th.

Zillow Group Stock Performance

Shares of Zillow Group stock opened at $78.16 on Friday. Zillow Group has a one year low of $40.30 and a one year high of $86.58. The stock’s fifty day moving average is $69.84 and its 200 day moving average is $70.32. The stock has a market cap of $18.87 billion, a P/E ratio of -229.88, a P/E/G ratio of 14.44 and a beta of 2.09.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Wednesday, May 7th. The technology company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). Zillow Group had a negative return on equity of 1.62% and a negative net margin of 3.51%. The company had revenue of $598.00 million during the quarter, compared to the consensus estimate of $587.88 million. During the same period in the prior year, the business posted $0.36 earnings per share. Zillow Group’s revenue for the quarter was up 13.0% compared to the same quarter last year. Analysts predict that Zillow Group will post 0.32 EPS for the current year.

Insider Activity

In related news, CFO Jeremy Hofmann sold 7,959 shares of Zillow Group stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $68.98, for a total value of $549,011.82. Following the completion of the transaction, the chief financial officer owned 97,481 shares in the company, valued at approximately $6,724,239.38. This trade represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gordon Sheridan Stephenson sold 10,000 shares of Zillow Group stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $70.69, for a total value of $706,900.00. Following the completion of the transaction, the director owned 28,290 shares of the company’s stock, valued at approximately $1,999,820.10. This represents a 26.12% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,093 shares of company stock valued at $6,989,688. 17.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pilgrim Partners Asia Pte Ltd purchased a new position in Zillow Group in the fourth quarter worth about $27,000. National Bank of Canada FI grew its position in Zillow Group by 79.4% in the first quarter. National Bank of Canada FI now owns 488 shares of the technology company’s stock worth $33,000 after acquiring an additional 216 shares in the last quarter. Salem Investment Counselors Inc. purchased a new position in Zillow Group in the first quarter worth about $42,000. CX Institutional purchased a new position in Zillow Group in the first quarter worth about $46,000. Finally, Wood Tarver Financial Group LLC purchased a new position in Zillow Group in the fourth quarter worth about $70,000. Hedge funds and other 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.