Zillow Group (NASDAQ:ZG) Price Target Raised to $95.00

Key Points

• Royal Bank of Canada raised Zillow Group's price target from $88.00 to $95.00, indicating a potential upside of 17.82% from its current price.
• Despite a negative net margin of 3.51% in its latest earnings report, Zillow Group's revenue increased by 14.5% year-over-year, reaching $655 million.
• Multiple analysts maintain a mix of ratings on Zillow Group, with consensus suggesting a "Hold" rating and a target price of $84.45.

Zillow Group (NASDAQ:ZG - Get Free Report) had its price objective boosted by analysts at Royal Bank Of Canada from $88.00 to $95.00 in a report issued on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the technology company's stock. Royal Bank Of Canada's price objective points to a potential upside of 17.82% from the stock's current price.

Several other equities analysts have also recently weighed in on ZG. Wedbush reiterated an "outperform" rating and set a $90.00 price objective (down previously from $100.00) on shares of Zillow Group in a report on Thursday, May 8th. Piper Sandler boosted their target price on Zillow Group from $82.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday. Wells Fargo & Company boosted their target price on Zillow Group from $60.00 to $75.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. UBS Group cut their target price on Zillow Group from $98.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Canaccord Genuity Group cut their target price on Zillow Group from $86.00 to $76.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $84.45.

Zillow Group Price Performance

Shares of Zillow Group stock traded down $0.88 during trading on Thursday, hitting $80.63. 677,878 shares of the company were exchanged, compared to its average volume of 557,820. The firm has a market capitalization of $19.47 billion, a P/E ratio of -237.48, a price-to-earnings-growth ratio of 14.64 and a beta of 2.07. Zillow Group has a 1-year low of $45.49 and a 1-year high of $86.58. The firm'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 released its quarterly earnings data 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 3.51% and a negative return on equity of 1.62%. The business had revenue of $655.00 million for the quarter, compared to the consensus estimate of $647.06 million. During the same quarter last year, the firm earned $0.39 EPS. The company's revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities research analysts anticipate that Zillow Group will post 0.32 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Jeremy Hofmann sold 7,959 shares of Zillow Group stock in a transaction on 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 owned 97,481 shares of the company's stock, valued at $6,724,239.38. The trade was a 7.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dan Spaulding sold 5,534 shares of Zillow Group stock in a transaction on Friday, May 16th. The shares were sold at an average price of $68.98, for a total value of $381,735.32. Following the transaction, the insider owned 68,889 shares in the company, valued at $4,751,963.22. This trade represents a 7.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 83,371 shares of company stock worth $5,775,204. 17.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

Several large investors have recently made changes to their positions in ZG. Sound View Wealth Advisors Group LLC bought a new position in shares of Zillow Group during the second quarter valued at approximately $2,691,000. EFG Asset Management North America Corp. grew its stake in shares of Zillow Group by 11.0% during 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 last quarter. K.J. Harrison & Partners Inc bought a new position in shares of Zillow Group during the second quarter valued at approximately $685,000. Simon Quick Advisors LLC grew its stake in shares of 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 buying an additional 360 shares during the last quarter. Finally, Strs Ohio grew its stake in shares of 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 buying an additional 1,870 shares during the last quarter. 20.32% of the stock is owned by institutional investors.

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.

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