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

Zillow Group (NASDAQ:ZG) had its target price boosted by equities researchers at UBS Group from $90.00 to $98.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. UBS Group’s price objective indicates a potential upside of 25.68% from the stock’s current price.

Several other research analysts also recently issued reports on ZG. Susquehanna upped their target price on shares of Zillow Group from $55.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Piper Sandler increased their price objective on shares of Zillow Group from $73.00 to $93.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Evercore ISI increased their target price on shares of Zillow Group from $55.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. 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 research note on Monday, December 2nd. Finally, Royal Bank of Canada increased their target price on Zillow Group from $66.00 to $74.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $74.06.

Zillow Group Stock Up 1.5 %

NASDAQ:ZG traded up $1.14 on Monday, hitting $77.97. The stock had a trading volume of 102,891 shares, compared to its average volume of 349,395. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13. The stock has a market cap of $18.21 billion, a P/E ratio of -136.69, a price-to-earnings-growth ratio of 10.31 and a beta of 2.09. Zillow Group has a 1 year low of $38.06 and a 1 year high of $83.67. The firm’s fifty day simple moving average is $75.13 and its two-hundred day simple moving average is $62.92.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. The business had revenue of $581.00 million during the quarter, compared to analyst estimates of $555.45 million. During the same period in the previous year, the business earned ($0.12) EPS. Zillow Group’s revenue was up 17.1% compared to the same quarter last year. Analysts predict that Zillow Group will post -0.36 earnings per share for the current year.

Insider Transactions at Zillow Group

In other news, insider Susan Daimler sold 3,694 shares of Zillow Group stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $73.98, for a total transaction of $273,282.12. Following the completion of the sale, the insider now directly owns 18,770 shares in the company, valued at approximately $1,388,604.60. This trade represents a 16.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jennifer Rock sold 3,187 shares of Zillow Group stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $74.00, for a total value of $235,838.00. Following the completion of the transaction, the chief accounting officer now owns 69,649 shares in the company, valued at $5,154,026. This trade represents a 4.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 139,689 shares of company stock valued at $10,395,879. 17.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZG. Future Financial Wealth Managment LLC purchased a new position in shares of Zillow Group in the 3rd quarter valued at about $29,000. Blue Trust Inc. increased its holdings in shares of Zillow Group by 70.2% in the fourth quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock valued at $30,000 after purchasing an additional 172 shares during the period. Asset Dedication LLC acquired a new position in shares of Zillow Group in the fourth quarter valued at approximately $47,000. Versant Capital Management Inc acquired a new position in Zillow Group during the fourth quarter worth $72,000. Finally, GAMMA Investing LLC grew its holdings in Zillow Group by 86.7% during the third quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock worth $75,000 after acquiring an additional 561 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.