Zillow Group Inc. (ZG) Rating Increased to Buy at Zacks Investment Research
Zillow Group Inc. (NASDAQ:ZG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage presently has a $38.00 target price on the stock. Zacks Investment Research’s target price suggests a potential upside of 11.40% from the company’s previous close.
According to Zacks, “Zillow Group, Inc. provides real estate and home-related brands on the Web and mobile. The company focuses on home lifecycle which include renting, buying, selling, financing and home improvement. Its portfolio of consumer brands consists of Zillow(R), Trulia(R), StreetEasy(R) and HotPads(R). The company’s business brands includes ActiveRain(R), Diverse Solutions(R), Market Leader(R), Mortech(R), Postlets(R) and Retsly(TM). Zillow Group Inc., formerly known as Zillow Inc., is headquartered in Seattle. “
A number of other analysts have also recently issued reports on the company. Goldman Sachs Group Inc. reissued a “buy” rating and set a $38.00 price objective (up previously from $34.00) on shares of Zillow Group in a research report on Friday, June 17th. Benchmark Co. lifted their price objective on Zillow Group from $34.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Susquehanna reissued a “neutral” rating and set a $35.00 price objective (up previously from $30.00) on shares of Zillow Group in a research report on Monday, August 8th. Vetr cut Zillow Group from a “sell” rating to a “strong sell” rating and set a $31.00 price objective for the company. in a research report on Monday, June 20th. Finally, Pacific Crest reissued a “hold” rating on shares of Zillow Group in a research report on Friday, August 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Zillow Group presently has an average rating of “Hold” and a consensus target price of $36.13.
Zillow Group (NASDAQ:ZG) traded down 1.82% during mid-day trading on Thursday, reaching $33.49. The company’s stock had a trading volume of 74,770 shares. The firm’s 50 day moving average price is $34.32 and its 200 day moving average price is $31.73. Zillow Group has a 52 week low of $16.45 and a 52 week high of $39.99. The firm’s market capitalization is $6.01 billion.
Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.68. The firm had revenue of $208.40 million for the quarter, compared to analyst estimates of $205.90 million. Zillow Group had a negative net margin of 34.51% and a negative return on equity of 9.25%. Zillow Group’s revenue for the quarter was up 31.3% compared to the same quarter last year. On average, analysts anticipate that Zillow Group will post ($0.56) EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in ZG. Metropolitan Life Insurance Co. NY increased its stake in Zillow Group by 25.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 3,130 shares of the company’s stock worth $115,000 after buying an additional 643 shares during the period. BlackRock Inc. purchased a new stake in Zillow Group during the first quarter worth $166,000. Legal & General Group Plc increased its stake in Zillow Group by 67.4% in the second quarter. Legal & General Group Plc now owns 5,303 shares of the company’s stock worth $194,000 after buying an additional 2,135 shares during the period. UBS Asset Management Americas Inc. purchased a new stake in Zillow Group during the second quarter worth $202,000. Finally, Rafferty Asset Management LLC purchased a new stake in Zillow Group during the second quarter worth $202,000. 29.86% of the stock is currently owned by institutional investors and hedge funds.
Receive News & Stock Ratings for Zillow Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zillow Group Inc. and related stocks with our FREE daily email newsletter.