DA Davidson Reaffirms Buy Rating for Zillow Group (NASDAQ:ZG)

Key Points

• DA Davidson has restated its "buy" rating for Zillow Group (NASDAQ:ZG) with a price target of $95.00, indicating a potential upside of 33.46% from the previous close.
• Several analysts have increased their target prices for Zillow Group, with Royal Bank of Canada and Sanford C. Bernstein proposing targets of $95.00 and $105.00, respectively.
• Despite a recent trading decline of 4.4%, Zillow Group reported a revenue increase of 14.5% year-over-year, with expectations of $0.32 earnings per share for the current year.

Zillow Group (NASDAQ:ZG - Get Free Report)'s stock had its "buy" rating restated by research analysts at DA Davidson in a research note issued on Thursday,Benzinga reports. They currently have a $95.00 price target on the technology company's stock. DA Davidson's target price would indicate a potential upside of 33.46% from the company's previous close.

A number of other equities research analysts have also issued reports on the stock. Royal Bank Of Canada upped their target price on shares of Zillow Group from $88.00 to $95.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Canaccord Genuity Group upped their price objective on shares of Zillow Group from $76.00 to $84.00 and gave the company a "hold" rating in a research note on Thursday, August 7th. Sanford C. Bernstein raised shares of Zillow Group from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $75.00 to $105.00 in a research note on Wednesday, September 17th. Susquehanna restated a "neutral" rating on shares of Zillow Group in a report on Friday, August 8th. Finally, JMP Securities reiterated a "market outperform" rating and set a $87.00 price objective on shares of Zillow Group in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Zillow Group presently has an average rating of "Moderate Buy" and an average target price of $86.78.

Zillow Group Trading Down 4.4%

NASDAQ:ZG opened at $71.18 on Thursday. The stock has a 50 day moving average of $80.29 and a two-hundred day moving average of $72.04. Zillow Group has a 12 month low of $55.08 and a 12 month high of $90.22. The firm has a market cap of $17.24 billion, a P/E ratio of -273.77, a price-to-earnings-growth ratio of 20.73 and a beta of 2.11.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its earnings results on Wednesday, August 6th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.04). Zillow Group had a negative net margin of 2.60% and a negative return on equity of 1.26%. The firm had revenue of $655.00 million during the quarter, compared to analysts' expectations of $647.06 million. During the same quarter last year, the business earned $0.39 EPS. The business's revenue was up 14.5% compared to the same quarter last year. On average, research analysts forecast that Zillow Group will post 0.32 earnings per share for the current year.

Insider Activity at Zillow Group

In other Zillow Group news, CFO Jeremy Hofmann sold 25,000 shares of Zillow Group stock in a transaction on Monday, September 8th. The stock was sold at an average price of $89.99, for a total value of $2,249,750.00. Following the sale, the chief financial officer owned 84,146 shares in the company, valued at $7,572,298.54. The trade was a 22.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jun Choo sold 25,575 shares of the company's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $91.06, for a total value of $2,328,859.50. Following the completion of the transaction, the chief operating officer directly owned 114,129 shares in the company, valued at approximately $10,392,586.74. This trade represents a 18.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 657,087 shares of company stock valued at $56,286,479 over the last 90 days. Corporate insiders own 17.14% of the company's stock.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC acquired a new stake in Zillow Group in the 4th quarter valued at approximately $266,000. GAMMA Investing LLC grew its stake in shares of Zillow Group by 9,124.2% in the first quarter. GAMMA Investing LLC now owns 122,220 shares of the technology company's stock valued at $8,172,000 after buying an additional 120,895 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Zillow Group by 8.0% in the 1st quarter. Rhumbline Advisers now owns 51,030 shares of the technology company's stock valued at $3,412,000 after buying an additional 3,765 shares during the period. SG Americas Securities LLC raised its holdings in shares of Zillow Group by 253.3% in the 1st quarter. SG Americas Securities LLC now owns 20,980 shares of the technology company's stock valued at $1,403,000 after buying an additional 15,042 shares during the period. Finally, CX Institutional acquired a new position in Zillow Group during the 1st quarter worth about $46,000. 20.32% of the stock is owned by hedge funds and other institutional investors.

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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