DA Davidson Forecasts Strong Price Appreciation for Zillow Group (NASDAQ:ZG) Stock

Zillow Group (NASDAQ:ZG) had its target price lifted by investment analysts at DA Davidson from $75.00 to $80.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. DA Davidson’s price target suggests a potential upside of 17.20% from the stock’s previous close.

A number of other research firms also recently weighed in on ZG. The Goldman Sachs Group boosted their target price on shares of Zillow Group from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Evercore ISI upped their price objective on Zillow Group from $55.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Barclays lifted their target price on Zillow Group from $36.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Susquehanna increased their price target on Zillow Group from $55.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Finally, Royal Bank of Canada lifted their price objective 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Zillow Group Stock Performance

NASDAQ:ZG opened at $68.26 on Wednesday. The stock has a 50-day moving average price of $73.70 and a 200 day moving average price of $60.51. The stock has a market capitalization of $15.94 billion, a P/E ratio of -119.75 and a beta of 2.09. Zillow Group has a 12-month low of $38.06 and a 12-month high of $83.67. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share for the quarter, topping 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%. Zillow Group’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.12) earnings per share. Equities research analysts forecast that Zillow Group will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO David A. Beitel sold 56,750 shares of the business’s stock in a transaction 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 transaction, the chief technology officer now directly owns 92 shares of the company’s stock, valued at approximately $6,659.88. The trade was a 99.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Susan Daimler sold 3,694 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $73.98, for a total value of $273,282.12. Following the sale, the insider now owns 18,770 shares of the company’s stock, valued at $1,388,604.60. This trade represents a 16.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 139,689 shares of company stock worth $10,395,879 in the last ninety days. 17.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zillow Group

A number of large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of Zillow Group by 4.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 162,647 shares of the technology company’s stock valued at $7,326,000 after purchasing an additional 7,311 shares during the last quarter. National Bank of Canada FI raised its stake in Zillow Group by 7,309.7% in the second quarter. National Bank of Canada FI now owns 26,675 shares of the technology company’s stock valued at $1,178,000 after buying an additional 26,315 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Zillow Group in the second quarter worth about $320,000. NINE MASTS CAPITAL Ltd purchased a new stake in shares of Zillow Group during the second quarter worth about $2,584,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Zillow Group by 8.7% during the second quarter. Dimensional Fund Advisors LP now owns 441,800 shares of the technology company’s stock worth $19,901,000 after acquiring an additional 35,503 shares during the last quarter. 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.