Zillow Group (NASDAQ:ZG) Stock Price Expected to Rise, Evercore ISI Analyst Says

Zillow Group (NASDAQ:ZG) had its price target increased by equities research analysts at Evercore ISI from $75.00 to $90.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Evercore ISI’s target price suggests a potential upside of 24.99% from the company’s current price.

A number of other analysts have also weighed in on the stock. Barclays increased their target price on shares of Zillow Group from $36.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. KeyCorp upgraded Zillow Group from a “sector weight” rating to an “overweight” rating and set a $100.00 price objective on the stock in a research report on Monday, February 3rd. DA Davidson upped their target price on Zillow Group from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Canaccord Genuity Group lifted their price target on shares of Zillow Group from $64.00 to $86.00 and gave the company a “hold” rating in a report on Monday, December 2nd. Finally, Piper Sandler decreased their price objective on shares of Zillow Group from $93.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Zillow Group has a consensus rating of “Moderate Buy” and an average target price of $79.84.

Zillow Group Stock Performance

NASDAQ ZG opened at $72.00 on Wednesday. The company has a 50-day simple moving average of $75.77 and a two-hundred day simple moving average of $65.66. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11. Zillow Group has a 12-month low of $38.06 and a 12-month high of $86.58. The firm has a market cap of $16.82 billion, a price-to-earnings ratio of -124.80, a PEG ratio of 15.65 and a beta of 2.09.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Tuesday, February 11th. The technology company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. On average, equities analysts forecast that Zillow Group will post -0.42 EPS for the current year.

Insider Transactions at Zillow Group

In other Zillow Group news, General Counsel Bradley D. Owens sold 1,846 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $73.03, for a total value of $134,813.38. Following the completion of the transaction, the general counsel now owns 29,893 shares of the company’s stock, valued at approximately $2,183,085.79. The trade was a 5.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeremy Hofmann sold 23,388 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $84.98, for a total transaction of $1,987,512.24. Following the sale, the chief financial officer now directly owns 99,362 shares in the company, valued at approximately $8,443,782.76. The trade was a 19.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 142,730 shares of company stock valued at $10,896,034 in the last quarter. 17.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Zillow Group in the fourth quarter worth about $165,326,000. Virtu Financial LLC boosted its holdings in shares of Zillow Group by 101.3% in the fourth quarter. Virtu Financial LLC now owns 420,255 shares of the technology company’s stock worth $29,775,000 after buying an additional 211,482 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Zillow Group during the fourth quarter valued at approximately $14,916,000. Cynosure Group LLC purchased a new stake in Zillow Group during the third quarter valued at approximately $12,248,000. Finally, Mirabella Financial Services LLP bought a new position in Zillow Group in the third quarter worth approximately $11,351,000. Institutional investors own 20.32% of the company’s stock.

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.