DA Davidson Raises Zillow Group (NASDAQ:ZG) Price Target to $80.00

Zillow Group (NASDAQ:ZG) had its price target raised by DA Davidson from $75.00 to $80.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other equities research analysts also recently weighed in on the stock. Royal Bank of Canada upped their price objective on shares of Zillow Group from $66.00 to $74.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Barclays boosted their price target on shares of Zillow Group from $36.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Cantor Fitzgerald restated a “neutral” rating and set a $47.00 price objective on shares of Zillow Group in a report on Monday, October 7th. Wedbush upgraded Zillow Group from a “neutral” rating to an “outperform” rating and upped their target price for the company from $50.00 to $80.00 in a report on Monday, September 16th. Finally, Canaccord Genuity Group upped their target price on Zillow Group from $64.00 to $86.00 and gave the company a “hold” rating in a report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Zillow Group currently has an average rating of “Moderate Buy” and an average price target of $73.00.

Zillow Group Stock Performance

ZG stock opened at $68.26 on Wednesday. The company has a market capitalization of $15.94 billion, a P/E ratio of -119.75 and a beta of 2.09. The company has a 50-day simple moving average of $73.50 and a 200 day simple moving average of $60.45. Zillow Group has a fifty-two week low of $38.06 and a fifty-two week high of $83.67. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. The business had revenue of $581.00 million during the quarter, compared to the consensus estimate of $555.45 million. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.12) earnings per share. Sell-side analysts predict that Zillow Group will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Zillow Group

In other news, General Counsel Bradley D. Owens sold 1,212 shares of Zillow Group stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $73.98, for a total transaction of $89,663.76. Following the transaction, the general counsel now owns 31,739 shares in the company, valued at $2,348,051.22. The trade was a 3.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jennifer Rock sold 3,033 shares of Zillow Group stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $82.78, for a total value of $251,071.74. Following the transaction, the chief accounting officer now owns 57,166 shares in the company, valued at $4,732,201.48. This trade represents a 5.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 139,689 shares of company stock worth $10,395,879 over the last 90 days. Insiders own 17.14% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Institutional investors have recently bought and sold shares of the company. Future Financial Wealth Managment LLC bought a new stake in shares of Zillow Group during the 3rd quarter worth approximately $29,000. Versant Capital Management Inc bought a new stake in shares of Zillow Group during the 4th quarter worth approximately $72,000. GAMMA Investing LLC raised its stake in shares of 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 in the last quarter. Pinpoint Asset Management Ltd bought a new stake in shares of Zillow Group during the 3rd quarter worth approximately $95,000. Finally, Walleye Capital LLC bought a new stake in shares of Zillow Group during the 3rd quarter worth approximately $212,000. 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.