Zillow Group (NASDAQ:ZG) Upgraded to "Buy" at Gordon Haskett

Key Points

• Zillow Group's stock was recently upgraded from "hold" to "buy" by analysts at Gordon Haskett.
• The company's quarterly earnings report showed earnings of $0.40 per share, missing the consensus estimate by $0.04, while revenue increased by 14.5% year-over-year.
• Market analysts generally hold a positive outlook on Zillow Group, with a consensus rating of "Moderate Buy" and an average price target of $86.78.

Zillow Group (NASDAQ:ZG - Get Free Report) was upgraded by analysts at Gordon Haskett from a "hold" rating to a "buy" rating in a research note issued on Friday,Benzinga reports.

Several other equities research analysts have also commented on the stock. Mizuho initiated coverage on shares of Zillow Group in a report on Monday. They issued an "outperform" rating and a $100.00 price target for the company. JPMorgan Chase & Co. boosted their price target on shares of Zillow Group from $93.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Barclays restated an "underweight" rating and issued a $66.00 price target (up previously from $60.00) on shares of Zillow Group in a report on Thursday, August 7th. Zelman & Associates upgraded shares of Zillow Group to a "hold" rating in a report on Friday, August 8th. Finally, DA Davidson restated a "buy" rating and issued a $95.00 price target on shares of Zillow Group in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $86.78.

Zillow Group Price Performance

Shares of ZG opened at $72.46 on Friday. Zillow Group has a 1-year low of $55.08 and a 1-year high of $90.22. The company has a 50-day moving average of $80.19 and a 200 day moving average of $72.07. The firm has a market capitalization of $17.55 billion, a price-to-earnings ratio of -278.69, a PEG ratio of 19.82 and a beta of 2.11.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.40 earnings per share 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 company had revenue of $655.00 million for the quarter, compared to the consensus estimate of $647.06 million. During the same quarter in the previous year, the business earned $0.39 EPS. The company's quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities analysts anticipate that Zillow Group will post 0.32 earnings per share for the current fiscal year.

Insider Transactions at Zillow Group

In other news, COO Jun Choo sold 45,710 shares of Zillow Group stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $85.21, for a total value of $3,894,949.10. Following the transaction, the chief operating officer owned 117,098 shares of the company's stock, valued at $9,977,920.58. The trade was a 28.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dan Spaulding sold 100,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $85.91, for a total transaction of $8,591,000.00. Following the sale, the insider directly owned 68,889 shares in the company, valued at approximately $5,918,253.99. This represents a 59.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 657,087 shares of company stock worth $56,286,479. 17.14% of the stock is owned by corporate insiders.

Institutional Trading of Zillow Group

Several large investors have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Zillow Group by 3.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,550 shares of the technology company's stock valued at $312,000 after purchasing an additional 131 shares during the period. Voya Investment Management LLC grew its holdings in shares of Zillow Group by 2.8% in the first quarter. Voya Investment Management LLC now owns 5,778 shares of the technology company's stock valued at $386,000 after purchasing an additional 156 shares during the period. M&T Bank Corp grew its holdings in shares of Zillow Group by 4.1% in the first quarter. M&T Bank Corp now owns 5,437 shares of the technology company's stock valued at $363,000 after purchasing an additional 215 shares during the period. National Bank of Canada FI grew its holdings in shares of Zillow Group by 79.4% in the first quarter. National Bank of Canada FI now owns 488 shares of the technology company's stock valued at $33,000 after purchasing an additional 216 shares during the period. Finally, Unified Investment Management grew its holdings in shares of Zillow Group by 1.7% in the second quarter. Unified Investment Management now owns 14,144 shares of the technology company's stock valued at $969,000 after purchasing an additional 235 shares during the period. Hedge funds and other institutional investors 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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