Canaccord Genuity Group Raises Zillow Group (NASDAQ:ZG) Price Target to $86.00

Zillow Group (NASDAQ:ZG) had its price target lifted by Canaccord Genuity Group from $64.00 to $86.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 6.32% from the company’s previous close.

Several other analysts also recently weighed in on ZG. Evercore ISI lifted their price objective on Zillow Group from $55.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Benchmark lifted their price objective on Zillow Group from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Royal Bank of Canada lifted their price objective on Zillow Group from $66.00 to $74.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Barclays lifted their price objective on Zillow Group from $36.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, November 8th. Finally, Susquehanna boosted their target price on shares of Zillow Group from $55.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $70.94.

Zillow Group Stock Up 0.3 %

Shares of ZG opened at $80.89 on Monday. Zillow Group has a 12-month low of $38.06 and a 12-month high of $83.67. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.13 and a quick ratio of 3.13. The firm has a fifty day moving average price of $65.89 and a 200-day moving average price of $54.52.

Zillow Group (NASDAQ:ZG) last issued its 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 firm had revenue of $581.00 million during the quarter, compared to analyst estimates 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 period in the previous year, the firm earned ($0.12) earnings per share. On average, equities analysts expect that Zillow Group will post -0.33 EPS for the current year.

Insiders Place Their Bets

In other Zillow Group news, insider Dan Spaulding sold 4,565 shares of Zillow Group stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $86.22, for a total value of $393,594.30. Following the transaction, the insider now directly owns 58,217 shares in the company, valued at approximately $5,019,469.74. This trade represents a 7.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Susan Daimler sold 3,484 shares of Zillow Group stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $54.18, for a total value of $188,763.12. Following the completion of the transaction, the insider now owns 22,464 shares in the company, valued at $1,217,099.52. This trade represents a 13.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 163,591 shares of company stock valued at $11,892,886 over the last quarter. Company insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

A number of institutional investors have recently modified their holdings of ZG. L & S Advisors Inc purchased a new stake in Zillow Group during the third quarter worth $1,579,000. Mirabella Financial Services LLP acquired a new position in shares of Zillow Group in the third quarter worth $11,351,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Zillow Group by 24.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 49,569 shares of the technology company’s stock worth $2,233,000 after acquiring an additional 9,828 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Zillow Group by 169.9% in the first quarter. California State Teachers Retirement System now owns 24,773 shares of the technology company’s stock worth $1,186,000 after acquiring an additional 15,594 shares during the last quarter. Finally, Garde Capital Inc. raised its holdings in shares of Zillow Group by 132.7% in the second quarter. Garde Capital Inc. now owns 139,805 shares of the technology company’s stock worth $6,297,000 after acquiring an additional 79,733 shares during the last quarter. 20.32% of the stock is currently owned by hedge funds and other 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.