Zillow Group (NASDAQ:ZG) Price Target Raised to $94.00

Key Points

• Piper Sandler has raised Zillow Group's price target from $82.00 to $94.00, indicating a potential upside of 11.99% from its previous close.
• The stock currently has a consensus rating of "Hold" with various analysts giving differing price targets, encompassing a range from $69.00 to $98.00.
• Zillow Group reported a quarterly earnings miss with $0.40 EPS, falling short of the consensus estimate of $0.44, despite a year-over-year revenue increase of 14.5%.

Zillow Group (NASDAQ:ZG - Get Free Report) had its target price upped by research analysts at Piper Sandler from $82.00 to $94.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the technology company's stock. Piper Sandler's price target suggests a potential upside of 21.27% from the company's previous close.

Other research analysts have also recently issued reports about the company. UBS Group lowered their price objective on Zillow Group from $98.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Canaccord Genuity Group lowered their price objective on Zillow Group from $86.00 to $76.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Citigroup lowered their price objective 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 assumed coverage on shares of Zillow Group in a research report on Monday, April 21st. They issued a "market perform" rating for the company. Finally, Barclays reissued an "underweight" rating and issued a $66.00 price target (up from $60.00) on shares of Zillow Group in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.62.

Zillow Group Stock Performance

Shares of NASDAQ:ZG traded down $3.60 during trading on Thursday, hitting $77.51. The company's stock had a trading volume of 681,201 shares, compared to its average volume of 554,110. The business has a 50 day moving average price of $72.45 and a two-hundred day moving average price of $70.83. The company has a market capitalization of $18.71 billion, a PE ratio of -298.12, a P/E/G ratio of 14.98 and a beta of 2.07. Zillow Group has a fifty-two week low of $47.86 and a fifty-two week high of $86.58.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.04). The business 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 1.26% and a negative net margin of 2.60%. The business's revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 EPS. As a group, equities analysts expect that Zillow Group will post 0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Dan Spaulding sold 5,534 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 transaction of $381,735.32. Following the transaction, the insider directly owned 68,889 shares in the company, valued at $4,751,963.22. The trade was a 7.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jeremy Hofmann sold 7,959 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $68.98, for a total transaction of $549,011.82. Following the transaction, the chief financial officer owned 97,481 shares in the company, valued at approximately $6,724,239.38. This trade represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,371 shares of company stock valued at $5,775,204. 17.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Zillow Group by 38.0% during the first quarter. GAMMA Investing LLC now owns 1,828 shares of the technology company's stock worth $122,000 after acquiring an additional 503 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Zillow Group by 60.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,044 shares of the technology company's stock worth $404,000 after buying an additional 2,288 shares during the period. SG Americas Securities LLC grew its position in Zillow Group by 253.3% during the first quarter. SG Americas Securities LLC now owns 20,980 shares of the technology company's stock worth $1,403,000 after buying an additional 15,042 shares during the period. Cetera Investment Advisers acquired a new position in Zillow Group during the fourth quarter worth about $228,000. Finally, Two Sigma Advisers LP grew its position in Zillow Group by 21.5% during the fourth quarter. Two Sigma Advisers LP now owns 14,090 shares of the technology company's stock worth $998,000 after buying an additional 2,490 shares during the period. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Company Profile

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.