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

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

ZG has been the topic of a number of other reports. Citigroup boosted their target price on shares of Zillow Group from $58.00 to $62.00 and gave the stock a buy rating in a report on Thursday, August 8th. Benchmark boosted their target price on shares of Zillow Group from $60.00 to $65.00 and gave the stock a buy rating in a report on Thursday, August 8th. Wedbush raised shares of Zillow Group from a neutral rating to an outperform rating and boosted their target price for the stock from $50.00 to $80.00 in a report on Monday, September 16th. Royal Bank of Canada boosted their price target on shares of Zillow Group from $60.00 to $66.00 and gave the stock an outperform rating in a research report on Thursday, August 29th. Finally, UBS Group boosted their price target on shares of Zillow Group from $68.00 to $70.00 and gave the stock a buy rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Zillow Group presently has a consensus rating of Moderate Buy and an average price target of $60.94.

Zillow Group Price Performance

ZG stock opened at $63.48 on Wednesday. The firm has a market cap of $14.99 billion, a P/E ratio of -92.00 and a beta of 2.00. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The company’s 50-day moving average price is $53.17 and its two-hundred day moving average price is $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 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 net margin of 6.81% and a negative return on equity of 2.50%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) EPS. On average, analysts anticipate that Zillow Group will post -0.33 earnings per share for the current fiscal year.

Insider Transactions at Zillow Group

In other news, Director Amy Bohutinsky sold 20,625 shares of the company’s stock in a transaction on 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 sale, the director now owns 5,652 shares in the company, valued at approximately $379,983.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Amy Bohutinsky sold 20,625 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the completion of the transaction, the director now owns 5,652 shares in the company, valued at $379,983.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Bradley D. Owens sold 752 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $53.13, for a total transaction of $39,953.76. Following the transaction, the general counsel now owns 35,259 shares of the company’s stock, valued at approximately $1,873,310.67. The disclosure for this sale can be found here. Insiders sold a total of 221,999 shares of company stock worth $11,780,363 in the last quarter. 17.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

Several institutional investors have recently added to or reduced their stakes in ZG. Fidelis Capital Partners LLC purchased a new stake in Zillow Group during the first quarter valued at about $32,000. EntryPoint Capital LLC purchased a new stake in shares of Zillow Group in the first quarter worth about $53,000. Signaturefd LLC lifted its holdings 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 worth $71,000 after buying an additional 360 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Zillow Group in the first quarter worth about $84,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Zillow Group in the first quarter worth about $118,000. 20.32% of the stock is 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.