Zillow Group Inc. (ZG) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Zillow Group Inc. (NASDAQ:ZG) from a hold rating to a buy rating in a research report released on Thursday morning. They currently have $38.00 price objective on the stock.
According to Zacks, “Zillow Group, Inc. provides real estate and home-related brands on the Web and mobile. The company focuses on home lifecycle which include renting, buying, selling, financing and home improvement. Its portfolio of consumer brands consists of Zillow(R), Trulia(R), StreetEasy(R) and HotPads(R). The company’s business brands includes ActiveRain(R), Diverse Solutions(R), Market Leader(R), Mortech(R), Postlets(R) and Retsly(TM). Zillow Group Inc., formerly known as Zillow Inc., is headquartered in Seattle. “
Several other equities research analysts have also issued reports on ZG. RBC Capital Markets restated a buy rating and set a $42.00 price target (up previously from $36.00) on shares of Zillow Group in a research note on Tuesday, August 2nd. Cowen and Company restated a market perform rating and set a $29.00 price target (up previously from $23.00) on shares of Zillow Group in a research note on Wednesday, June 8th. JMP Securities restated a buy rating and set a $35.00 price target on shares of Zillow Group in a research note on Wednesday, June 8th. Royal Bank Of Canada raised their price target on shares of Zillow Group from $36.00 to $42.00 and gave the stock an outperform rating in a research note on Friday, August 5th. Finally, Mizuho raised their price target on shares of Zillow Group from $32.00 to $35.00 and gave the stock a neutral rating in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $36.38.
Shares of Zillow Group (NASDAQ:ZG) traded down 0.24% on Thursday, reaching $33.10. 252,610 shares of the company’s stock traded hands. The company’s 50-day moving average price is $34.30 and its 200 day moving average price is $31.74. The firm’s market cap is $5.94 billion. Zillow Group has a one year low of $16.45 and a one year high of $39.99.
Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.68. Zillow Group had a negative return on equity of 9.25% and a negative net margin of 34.51%. The company had revenue of $208.40 million for the quarter, compared to analysts’ expectations of $205.90 million. The business’s quarterly revenue was up 31.3% on a year-over-year basis. On average, equities analysts forecast that Zillow Group will post ($0.56) EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of ZG. Artemis Investment Management LLP boosted its position in shares of Zillow Group by 100.0% in the second quarter. Artemis Investment Management LLP now owns 66,200 shares of the company’s stock worth $2,426,000 after buying an additional 33,100 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Zillow Group during the second quarter worth approximately $1,101,000. Parametrica Management Ltd acquired a new position in shares of Zillow Group during the second quarter worth approximately $284,000. River & Mercantile Asset Management LLP boosted its position in shares of Zillow Group by 67.1% in the second quarter. River & Mercantile Asset Management LLP now owns 69,957 shares of the company’s stock worth $2,563,000 after buying an additional 28,100 shares during the last quarter. Finally, Caledonia Private Investments Pty Ltd acquired a new position in shares of Zillow Group during the first quarter worth approximately $332,231,000. 29.86% of the stock is owned by institutional investors.
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