Canaccord Genuity Group Forecasts Strong Price Appreciation for Zillow Group (NASDAQ:ZG) Stock

Zillow Group (NASDAQ:ZG) had its price target lifted by equities researchers at Canaccord Genuity Group from $56.00 to $64.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “hold” rating on the technology company’s stock. Canaccord Genuity Group’s price objective would indicate a potential downside of 10.19% from the company’s current price.

Several other research analysts have also commented on ZG. The Goldman Sachs Group raised their price target on shares of Zillow Group from $42.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday. Piper Sandler reissued an “overweight” rating and issued a $73.00 target price (up previously from $62.00) on shares of Zillow Group in a research note on Thursday. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $47.00 price target on shares of Zillow Group in a research report on Monday, October 7th. Craig Hallum raised their price objective on Zillow Group from $55.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Susquehanna upped their target price on Zillow Group from $42.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $66.06.

Zillow Group Stock Up 1.7 %

Shares of NASDAQ ZG opened at $71.26 on Thursday. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $16.49 billion, a PE ratio of -125.02 and a beta of 2.02. The firm has a fifty day moving average of $59.60 and a 200-day moving average of $50.51. Zillow Group has a 52-week low of $34.33 and a 52-week high of $72.03.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.31 by $0.08. The company had revenue of $572.00 million during the quarter, compared to analyst estimates of $538.36 million. Zillow Group had a negative return on equity of 2.34% and a negative net margin of 6.17%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.05) earnings per share. On average, analysts anticipate that Zillow Group will post -0.33 EPS for the current year.

Insider Buying and Selling

In other news, Director Amy Bohutinsky sold 20,625 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the sale, the director now directly owns 5,652 shares of the company’s stock, valued at $379,983.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Amy Bohutinsky sold 20,625 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the sale, the director now directly owns 5,652 shares of the company’s stock, valued at approximately $379,983.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thielke Claire Cormier sold 2,826 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $61.11, for a total transaction of $172,696.86. Following the transaction, the director now directly owns 2,826 shares in the company, valued at $172,696.86. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,596 shares of company stock valued at $3,938,581 over the last three months. Company insiders own 17.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ZG. Future Financial Wealth Managment LLC bought a new stake in shares of Zillow Group in the 3rd quarter valued at approximately $29,000. EntryPoint Capital LLC bought a new stake in shares of Zillow Group during the first quarter valued at approximately $53,000. Signaturefd LLC increased its stake in shares of Zillow Group by 29.7% in the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock valued at $71,000 after buying an additional 360 shares during the period. GAMMA Investing LLC raised its holdings in Zillow Group by 86.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock worth $75,000 after purchasing an additional 561 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in Zillow Group in the first quarter valued at approximately $84,000. 20.32% of the stock is owned by 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.