Zillow Group, Inc. (ZG) Receives Consensus Rating of “Buy” from Analysts
Zillow Group, Inc. (NASDAQ:ZG) has been given an average rating of “Buy” by the eighteen research firms that are currently covering the stock, Marketbeat reports. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $42.54.
A number of equities analysts have recently weighed in on ZG shares. Zacks Investment Research raised shares of Zillow Group from a “sell” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Thursday, April 13th. Needham & Company LLC reissued a “buy” rating and set a $48.00 price target (up from $41.00) on shares of Zillow Group in a research report on Friday, May 5th. Royal Bank Of Canada lifted their price target on shares of Zillow Group from $40.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, May 5th. Stephens reissued an “overweight” rating and set a $54.00 price target (up from $48.00) on shares of Zillow Group in a research report on Monday, June 19th. Finally, Craig Hallum reaffirmed a “buy” rating on shares of Zillow Group in a research report on Thursday, June 22nd.
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Shares of Zillow Group (NASDAQ:ZG) traded up 1.01% during midday trading on Monday, hitting $46.88. The stock had a trading volume of 292,490 shares. Zillow Group has a 52 week low of $31.17 and a 52 week high of $50.91. The stock’s market cap is $8.59 billion. The stock has a 50-day moving average of $45.23 and a 200 day moving average of $38.56.
Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Thursday, May 4th. The technology company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by $0.08. The firm had revenue of $245.80 million for the quarter, compared to the consensus estimate of $236.04 million. Zillow Group had a negative return on equity of 5.65% and a negative net margin of 19.58%. The company’s revenue for the quarter was up 32.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.13) earnings per share. Analysts anticipate that Zillow Group will post $0.45 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of ZG. Russell Investments Group Ltd. purchased a new position in Zillow Group during the fourth quarter valued at $1,733,000. State Street Corp raised its position in Zillow Group by 4.5% in the fourth quarter. State Street Corp now owns 550,414 shares of the technology company’s stock valued at $20,063,000 after buying an additional 23,512 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Zillow Group during the fourth quarter valued at $846,000. Norges Bank purchased a new position in Zillow Group during the fourth quarter valued at $15,520,000. Finally, River & Mercantile Asset Management LLP purchased a new position in Zillow Group during the fourth quarter valued at $2,612,000. 26.78% of the stock is currently owned by hedge funds and other institutional investors.
About Zillow Group
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