Zillow Group (NASDAQ:ZG) Given New $47.00 Price Target at The Goldman Sachs Group

Zillow Group (NASDAQ:ZG) had its target price raised by analysts at The Goldman Sachs Group from $42.00 to $47.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. The Goldman Sachs Group’s price objective points to a potential downside of 34.04% from the company’s current price.

Several other research analysts have also issued reports on the stock. Craig Hallum increased their price target on shares of Zillow Group from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Piper Sandler restated an “overweight” rating and set a $73.00 target price (up previously from $62.00) on shares of Zillow Group in a research report on Thursday. Citigroup upped their price target on Zillow Group from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Barclays boosted their target price on shares of Zillow Group from $35.00 to $36.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. Finally, Susquehanna lifted their price target on shares of Zillow Group from $42.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Zillow Group currently has an average rating of “Moderate Buy” and a consensus price target of $66.06.

Zillow Group Price Performance

Shares of NASDAQ:ZG opened at $71.26 on Thursday. The business’s 50 day moving average is $59.60 and its 200-day moving average is $50.51. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $16.49 billion, a PE ratio of -125.02 and a beta of 2.02. Zillow Group has a 1-year low of $34.33 and a 1-year high of $72.03.

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

Insider Activity

In other news, insider Dan Spaulding sold 2,991 shares of Zillow Group stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $53.18, for a total transaction of $159,061.38. Following the completion of the transaction, the insider now directly owns 70,342 shares in the company, valued at approximately $3,740,787.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Thielke Claire Cormier sold 2,826 shares of Zillow Group stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $61.11, for a total transaction of $172,696.86. Following the completion of the sale, the director now directly owns 2,826 shares of the company’s stock, valued at approximately $172,696.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Dan Spaulding sold 2,991 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $53.18, for a total value of $159,061.38. Following the completion of the transaction, the insider now directly owns 70,342 shares in the company, valued at approximately $3,740,787.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,596 shares of company stock valued at $3,938,581. 17.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zillow Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new stake in shares of Zillow Group in the third quarter valued at approximately $29,000. EntryPoint Capital LLC acquired a new stake in Zillow Group during the first quarter worth approximately $53,000. Signaturefd LLC increased its stake in Zillow Group by 29.7% during the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock worth $71,000 after acquiring an additional 360 shares during the period. GAMMA Investing LLC raised its holdings in Zillow Group by 86.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock valued at $75,000 after acquiring an additional 561 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in Zillow Group in the 1st quarter valued at $84,000. Institutional investors and hedge funds own 20.32% of the company’s stock.

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.