Royal Bank of Canada Raises Zillow Group, Inc. (ZG) Price Target to $51.00
Zillow Group, Inc. (NASDAQ:ZG) had its price objective increased by Royal Bank of Canada from $49.00 to $51.00 in a research note published on Wednesday, MarketBeat Ratings reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.
Several other research analysts have also recently commented on the company. Zacks Investment Research raised Zillow Group from a hold rating to a buy rating and set a $46.00 target price for the company in a research report on Wednesday, August 16th. Canaccord Genuity raised their target price on Zillow Group from $50.00 to $52.00 and gave the stock a buy rating in a research report on Wednesday, August 9th. Needham & Company LLC raised their target price on Zillow Group from $48.00 to $52.00 and gave the stock a buy rating in a research report on Wednesday, August 9th. KeyCorp began coverage on Zillow Group in a research report on Monday, July 17th. They issued an equal weight rating for the company. Finally, Deutsche Bank AG reaffirmed a hold rating and issued a $50.00 target price (up from $44.00) on shares of Zillow Group in a research report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. Zillow Group currently has an average rating of Hold and an average price target of $47.21.
Shares of Zillow Group (ZG) traded down $0.69 during trading on Wednesday, hitting $39.74. 595,300 shares of the stock traded hands, compared to its average volume of 446,355. The company has a debt-to-equity ratio of 0.14, a quick ratio of 6.70 and a current ratio of 6.44. Zillow Group has a twelve month low of $32.63 and a twelve month high of $50.91.
Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. The business had revenue of $282.00 million for the quarter, compared to the consensus estimate of $276.57 million. Zillow Group had a negative net margin of 3.99% and a negative return on equity of 0.25%. Zillow Group’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the company posted $0.17 earnings per share. sell-side analysts anticipate that Zillow Group will post -0.1 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC bought a new position in shares of Zillow Group in the second quarter valued at about $473,000. Alliancebernstein L.P. raised its holdings in shares of Zillow Group by 28.9% in the second quarter. Alliancebernstein L.P. now owns 25,841 shares of the technology company’s stock valued at $1,262,000 after buying an additional 5,800 shares during the last quarter. Osterweis Capital Management Inc. raised its holdings in shares of Zillow Group by 177.2% in the second quarter. Osterweis Capital Management Inc. now owns 62,243 shares of the technology company’s stock valued at $3,040,000 after buying an additional 39,785 shares during the last quarter. Caledonia Private Investments Pty Ltd raised its holdings in shares of Zillow Group by 2.0% in the second quarter. Caledonia Private Investments Pty Ltd now owns 13,628,910 shares of the technology company’s stock valued at $667,953,000 after buying an additional 268,722 shares during the last quarter. Finally, Spark Investment Management LLC bought a new position in shares of Zillow Group in the second quarter valued at about $5,089,000. 26.09% of the stock is owned by institutional investors and hedge funds.
About Zillow Group
Zillow Group, Inc operates real estate and home-related information marketplaces on mobile and the Web in the United States. The company offers a portfolio of brands and products to enable people find information about homes and connect with local professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.
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