Evercore ISI Forecasts Strong Price Appreciation for Zillow Group (NASDAQ:ZG) Stock

Key Points

• Evercore ISI raised its price target for Zillow Group stock from $90.00 to $95.00, indicating a potential upside of 19.32% based on the company's previous close.
• While most analysts have a consensus rating of "Moderate Buy" for Zillow Group, opinions vary with price targets ranging from $66.00 to $95.00.
• Zillow Group's latest quarterly earnings report showed a 14.5% year-over-year revenue increase, despite an EPS miss against consensus estimates.

Zillow Group (NASDAQ:ZG - Free Report) had its target price lifted by Evercore ISI from $90.00 to $95.00 in a report released on Friday,Benzinga reports. Evercore ISI currently has an outperform rating on the technology company's stock.

A number of other equities research analysts also recently commented on ZG. The Goldman Sachs Group reduced their target price on Zillow Group from $77.00 to $69.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Citigroup reduced their target price on Zillow Group from $98.00 to $87.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Benchmark cut their price objective on Zillow Group from $110.00 to $95.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Wedbush reiterated an "outperform" rating and issued a $90.00 price objective (down previously from $100.00) on shares of Zillow Group in a report on Thursday, May 8th. Finally, William Blair assumed coverage on Zillow Group in a report on Monday, April 21st. They issued a "market perform" rating on the stock. One equities research 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 has an average rating of "Moderate Buy" and a consensus price target of $85.62.

Zillow Group Price Performance

Zillow Group stock traded down $3.60 during trading on Friday, reaching $77.51. 681,201 shares of the company were exchanged, compared to its average volume of 554,110. Zillow Group has a 52-week low of $47.86 and a 52-week high of $86.58. The company has a market capitalization of $18.71 billion, a P/E ratio of -298.12, a PEG ratio of 14.32 and a beta of 2.07. The stock's 50 day simple moving average is $72.45 and its two-hundred day simple moving average is $70.80.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its earnings results on Wednesday, August 6th. The technology company reported $0.40 EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $655.00 million during the quarter, compared to analysts' expectations of $647.06 million. During the same quarter in the prior year, the firm earned $0.39 EPS. Zillow Group's revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, equities analysts forecast that Zillow Group will post 0.32 earnings per share for the current year.

Insider Buying and Selling at Zillow Group

In related news, CFO Jeremy Hofmann sold 7,959 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $68.98, for a total value of $549,011.82. Following the completion of the sale, the chief financial officer directly owned 97,481 shares of the company's stock, valued at $6,724,239.38. This represents a 7.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jun Choo sold 10,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $70.65, for a total value of $706,500.00. Following the completion of the sale, the chief operating officer directly owned 120,186 shares of the company's stock, valued at approximately $8,491,140.90. This trade represents a 7.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,371 shares of company stock worth $5,775,204. Corporate insiders own 17.14% of the company's stock.

Institutional Trading of Zillow Group

A number of large investors have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC raised its stake in Zillow Group by 13.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,191 shares of the technology company's stock valued at $84,000 after acquiring an additional 138 shares during the last quarter. Franklin Resources Inc. raised its stake in Zillow Group by 42.1% during the 4th quarter. Franklin Resources Inc. now owns 4,739 shares of the technology company's stock valued at $336,000 after acquiring an additional 1,405 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Zillow Group by 13.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 5,137 shares of the technology company's stock valued at $364,000 after acquiring an additional 600 shares during the last quarter. Renaissance Technologies LLC raised its stake in Zillow Group by 97.8% during the 4th quarter. Renaissance Technologies LLC now owns 62,100 shares of the technology company's stock valued at $4,400,000 after acquiring an additional 30,700 shares during the last quarter. Finally, APG Asset Management N.V. purchased a new stake in Zillow Group during the 4th quarter valued at approximately $226,000. 20.32% of the stock is owned by institutional investors and hedge funds.

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.