Royal Bank of Canada Reiterates “Outperform” Rating for Zillow Group (NASDAQ:ZG)

Zillow Group (NASDAQ:ZG)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a report released on Tuesday, Benzinga reports. They currently have a $66.00 target price on the technology company’s stock. Royal Bank of Canada’s target price points to a potential upside of 9.71% from the company’s previous close.

A number of other analysts also recently commented on the stock. Craig Hallum boosted their target price on shares of Zillow Group from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $62.00 price target on shares of Zillow Group in a report on Wednesday, October 9th. UBS Group raised their price objective on Zillow Group from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Susquehanna boosted their target price on Zillow Group from $42.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $47.00 target price on shares of Zillow Group in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Zillow Group presently has a consensus rating of “Moderate Buy” and an average price target of $60.94.

Zillow Group Price Performance

ZG traded down $0.69 during trading on Tuesday, reaching $60.16. The stock had a trading volume of 66,202 shares, compared to its average volume of 623,507. The stock has a 50 day moving average of $57.56 and a two-hundred day moving average of $48.91. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $14.21 billion, a price-to-earnings ratio of -87.19 and a beta of 2.01. Zillow Group has a 1-year low of $33.23 and a 1-year high of $66.75.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.08. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The business had revenue of $572.00 million during the quarter, compared to analysts’ expectations of $538.36 million. During the same quarter last year, the business posted ($0.05) earnings per share. The company’s quarterly revenue was up 13.0% on a year-over-year basis. As a group, equities analysts anticipate that Zillow Group will post -0.33 EPS for the current fiscal year.

Insider Activity at Zillow Group

In other news, CAO Jennifer Rock sold 4,050 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $49.23, for a total value of $199,381.50. Following the transaction, the chief accounting officer now directly owns 79,694 shares of the company’s stock, valued at approximately $3,923,335.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Zillow Group news, Director Amy Bohutinsky sold 20,625 shares of Zillow Group stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the sale, the director now directly owns 5,652 shares in the company, valued at $379,983.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer Rock sold 4,050 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $49.23, for a total transaction of $199,381.50. Following the transaction, the chief accounting officer now owns 79,694 shares in the company, valued at approximately $3,923,335.62. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 221,999 shares of company stock valued at $11,780,363. Corporate insiders own 17.14% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Edgestream Partners L.P. lifted its position in shares of Zillow Group by 140.6% in the first quarter. Edgestream Partners L.P. now owns 20,735 shares of the technology company’s stock worth $992,000 after buying an additional 12,116 shares during the last quarter. US Bancorp DE lifted its holdings in Zillow Group by 42.6% in the 1st quarter. US Bancorp DE now owns 246,020 shares of the technology company’s stock worth $11,775,000 after purchasing an additional 73,504 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Zillow Group during the first quarter worth approximately $1,597,000. Russell Investments Group Ltd. grew its holdings in Zillow Group by 148.6% during the first quarter. Russell Investments Group Ltd. now owns 31,934 shares of the technology company’s stock valued at $1,528,000 after purchasing an additional 19,087 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of Zillow Group by 24.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 49,569 shares of the technology company’s stock valued at $2,233,000 after purchasing an additional 9,828 shares during the period. Institutional investors and hedge funds 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.