Royal Bank of Canada Forecasts Strong Price Appreciation for Zillow Group (NASDAQ:ZG) Stock

Zillow Group (NASDAQ:ZG) had its price objective hoisted by Royal Bank of Canada from $66.00 to $74.00 in a report issued on Thursday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other equities analysts also recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Zillow Group from $42.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday. UBS Group boosted their target price on shares of Zillow Group from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. DA Davidson raised their price target on shares of Zillow Group from $52.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Wedbush upgraded shares of Zillow Group from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $50.00 to $80.00 in a research note on Monday, September 16th. Finally, Susquehanna upped their target price on Zillow Group from $42.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Zillow Group presently has an average rating of “Moderate Buy” and an average price target of $66.06.

Zillow Group Stock Performance

Shares of ZG opened at $71.26 on Thursday. 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 cap of $16.49 billion, a PE ratio of -125.02 and a beta of 2.02. Zillow Group has a 12 month low of $34.33 and a 12 month high of $72.03. The stock has a fifty day moving average price of $59.60 and a 200-day moving average price of $50.56.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.08. The company had revenue of $572.00 million for the quarter, compared to analyst estimates of $538.36 million. Zillow Group had a negative return on equity of 2.34% and a negative net margin of 6.17%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) EPS. Equities research analysts predict that Zillow Group will post -0.33 earnings per share for the current fiscal year.

Insider Transactions at Zillow Group

In other news, insider Dan Spaulding sold 2,991 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $53.18, for a total transaction of $159,061.38. Following the sale, the insider now owns 70,342 shares of the company’s stock, valued at $3,740,787.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Zillow Group news, Director Amy Bohutinsky sold 20,625 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the transaction, the director now owns 5,652 shares in the company, valued at approximately $379,983.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dan Spaulding sold 2,991 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $53.18, for a total transaction of $159,061.38. Following the sale, the insider now directly owns 70,342 shares in the company, valued at approximately $3,740,787.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,596 shares of company stock worth $3,938,581 over the last quarter. 17.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds have recently bought and sold shares of the business. Signaturefd LLC increased its position in shares of Zillow Group by 29.7% in the second quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock valued at $71,000 after buying an additional 360 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Zillow Group by 9.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,669 shares of the technology company’s stock worth $210,000 after acquiring an additional 421 shares in the last quarter. Creative Planning increased its holdings in Zillow Group by 7.2% in the 3rd quarter. Creative Planning now owns 6,537 shares of the technology company’s stock worth $405,000 after acquiring an additional 439 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in Zillow Group during the third quarter worth $29,000. Finally, Wedmont Private Capital lifted its holdings in Zillow Group by 4.2% during the second quarter. Wedmont Private Capital now owns 12,483 shares of the technology company’s stock valued at $610,000 after purchasing an additional 504 shares in the last quarter. 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.