Zillow Group, Inc. (ZG) Receives $46.17 Consensus Target Price from Brokerages
Shares of Zillow Group, Inc. (NASDAQ:ZG) have been assigned a consensus rating of “Buy” from the sixteen brokerages that are covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $46.17.
Several analysts have issued reports on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $49.00 target price (up from $48.00) on shares of Zillow Group in a research note on Thursday. Canaccord Genuity boosted their target price on Zillow Group from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Needham & Company LLC boosted their target price on Zillow Group from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Deutsche Bank AG restated a “hold” rating and issued a $50.00 target price (up from $44.00) on shares of Zillow Group in a research note on Monday, August 7th. Finally, KeyCorp assumed coverage on Zillow Group in a research note on Monday, July 17th. They issued an “equal weight” rating on the stock.
Shares of Zillow Group (NASDAQ:ZG) traded up 1.52% during midday trading on Friday, hitting $41.33. The stock had a trading volume of 249,366 shares. Zillow Group has a 52 week low of $31.17 and a 52 week high of $50.91. The firm’s market cap is $7.66 billion. The company’s 50 day moving average is $46.17 and its 200 day moving average is $40.33.
Zillow Group (NASDAQ:ZG) last issued its earnings results on Tuesday, August 8th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.11. The firm had revenue of $266.85 million during the quarter, compared to the consensus estimate of $262.21 million. Zillow Group had a negative net margin of 4.47% and a negative return on equity of 0.40%. The business’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.71) earnings per share. On average, equities analysts predict that Zillow Group will post $0.48 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in Zillow Group during the fourth quarter valued at approximately $15,520,000. Spark Investment Management LLC acquired a new position in Zillow Group during the second quarter valued at approximately $5,089,000. Geode Capital Management LLC boosted its position in Zillow Group by 14.9% in the first quarter. Geode Capital Management LLC now owns 416,848 shares of the technology company’s stock valued at $14,093,000 after buying an additional 54,099 shares during the last quarter. Accuvest Global Advisors acquired a new position in Zillow Group during the second quarter valued at approximately $527,000. Finally, Vanguard Group Inc. boosted its position in Zillow Group by 11.9% in the first quarter. Vanguard Group Inc. now owns 4,192,272 shares of the technology company’s stock valued at $141,741,000 after buying an additional 444,184 shares during the last quarter. Institutional investors and hedge funds own 26.92% of the company’s stock.
About Zillow Group
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