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 report issued on Tuesday. The brokerage currently has a $39.00 target price on the stock. Zacks Investment Research’s price target points to a potential upside of 10.73% from the company’s current price.
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. “
Several other research analysts also recently commented on ZG. Canaccord Genuity reissued a “buy” rating and issued a $40.00 target price (up from $34.00) on shares of Zillow Group in a report on Thursday, July 14th. RBC Capital Markets reissued a “buy” rating and issued a $42.00 target price (up from $36.00) on shares of Zillow Group in a report on Tuesday, August 2nd. Mizuho boosted their target price on Zillow Group from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, August 5th. Royal Bank Of Canada boosted their target price on Zillow Group from $36.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Finally, Benchmark Co. boosted their target price on Zillow Group from $34.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $37.13.
Zillow Group (NASDAQ:ZG) opened at 35.22 on Tuesday. Zillow Group has a 12 month low of $16.45 and a 12 month high of $39.99. The firm’s market capitalization is $6.36 billion. The stock’s 50 day moving average price is $33.81 and its 200 day moving average price is $33.41.
Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Tuesday, November 1st. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. Zillow Group had a negative return on equity of 8.48% and a negative net margin of 28.25%. The firm had revenue of $224.60 million for the quarter. During the same quarter in the prior year, the firm earned $0.07 earnings per share. The company’s revenue was up 27.0% on a year-over-year basis. Equities research analysts expect that Zillow Group will post ($0.53) earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in ZG. Aperio Group LLC bought a new position in shares of Zillow Group during the first quarter worth $250,000. TIAA CREF Investment Management LLC acquired a new position in Zillow Group during the first quarter worth approximately $3,268,000. BlackRock Inc. acquired a new position in Zillow Group during the first quarter worth approximately $166,000. BlackRock Institutional Trust Company N.A. acquired a new position in Zillow Group during the first quarter worth approximately $26,596,000. Finally, Wellington Management Group LLP acquired a new position in Zillow Group during the first quarter worth approximately $135,750,000. 29.85% of the stock is owned by hedge funds and other institutional investors.
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