DA Davidson Raises Zillow Group (NASDAQ:ZG) Price Target to $95.00

Key Points

• DA Davidson has increased Zillow Group's price target from $85.00 to $95.00, indicating a potential upside of 17.15% from its current price, while maintaining a "buy" rating.
• Other analysts have mixed opinions, with Goldman Sachs reducing its target to $69.00, while Royal Bank of Canada set the target at $95.00 with an "outperform" rating.
• Zillow Group reported an EPS of $0.40 for the last quarter, missing expectations, but saw a 14.5% increase in revenue compared to the previous year.

Zillow Group (NASDAQ:ZG - Get Free Report) had its target price upped by DA Davidson from $85.00 to $95.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. DA Davidson's price target suggests a potential upside of 17.15% from the company's current price.

A number of other equities analysts have also weighed in on the company. The Goldman Sachs Group lowered their price objective on Zillow Group from $77.00 to $69.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Royal Bank Of Canada lifted their target price on Zillow Group from $88.00 to $95.00 and gave the stock an "outperform" rating in a research report on Thursday. Citigroup dropped their target price on Zillow Group from $98.00 to $87.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. William Blair began coverage on shares of Zillow Group in a research report on Monday, April 21st. They issued a "market perform" rating on the stock. Finally, Canaccord Genuity Group set a $84.00 target price on shares of Zillow Group in a research report on Thursday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Zillow Group currently has an average rating of "Moderate Buy" and an average target price of $85.38.

Zillow Group Price Performance

ZG stock traded down $0.42 on Thursday, reaching $81.09. 931,436 shares of the company were exchanged, compared to its average volume of 559,443. Zillow Group has a 12 month low of $45.49 and a 12 month high of $86.58. The firm has a market capitalization of $19.58 billion, a PE ratio of -238.51, a PEG ratio of 14.64 and a beta of 2.07. The stock's fifty day moving average price is $71.90 and its 200 day moving average price is $70.77.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.04). The company had revenue of $655.00 million during the quarter, compared to analyst estimates of $647.06 million. Zillow Group had a negative return on equity of 1.62% and a negative net margin of 3.51%. Zillow Group's revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 earnings per share. As a group, research analysts expect that Zillow Group will post 0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Dan Spaulding sold 5,534 shares of Zillow Group stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $68.98, for a total value of $381,735.32. Following the completion of the transaction, the insider owned 68,889 shares in the company, valued at approximately $4,751,963.22. This trade represents a 7.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeremy Wacksman sold 10,984 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $68.98, for a total value of $757,676.32. Following the completion of the transaction, the chief executive officer owned 171,517 shares in the company, valued at $11,831,242.66. This trade represents a 6.02% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 83,371 shares of company stock valued at $5,775,204. Insiders own 17.14% of the company's stock.

Institutional Trading of Zillow Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Sound View Wealth Advisors Group LLC bought a new position in Zillow Group during the second quarter worth about $2,691,000. EFG Asset Management North America Corp. boosted its stake in shares of Zillow Group by 11.0% in the second quarter. EFG Asset Management North America Corp. now owns 48,009 shares of the technology company's stock valued at $3,288,000 after buying an additional 4,764 shares during the period. K.J. Harrison & Partners Inc acquired a new position in Zillow Group during the second quarter valued at approximately $685,000. Simon Quick Advisors LLC raised its position in Zillow Group by 2.8% during the second quarter. Simon Quick Advisors LLC now owns 13,307 shares of the technology company's stock valued at $911,000 after purchasing an additional 360 shares in the last quarter. Finally, Strs Ohio raised its position in Zillow Group by 15.3% during the second quarter. Strs Ohio now owns 14,065 shares of the technology company's stock valued at $963,000 after purchasing an additional 1,870 shares in the last quarter. Institutional investors and hedge funds 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.

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