Zillow Group (NASDAQ:ZG) Stock Price Expected to Rise, JMP Securities Analyst Says

Zillow Group (NASDAQ:ZG) had its price target increased by investment analysts at JMP Securities from $62.00 to $82.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “market outperform” rating on the technology company’s stock. JMP Securities’ price objective suggests a potential upside of 17.03% from the stock’s current price.

Other research analysts have also recently issued reports about the company. The Goldman Sachs Group increased their price target on Zillow Group from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 price objective on shares of Zillow Group in a research note on Tuesday, October 22nd. DA Davidson upped their price objective on Zillow Group from $52.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. UBS Group upped their price target on shares of Zillow Group from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Piper Sandler reissued an “overweight” rating and set a $73.00 price objective (up previously from $62.00) on shares of Zillow Group in a report on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Zillow Group presently has a consensus rating of “Moderate Buy” and an average price target of $65.28.

Zillow Group Price Performance

NASDAQ:ZG traded up $13.99 during trading hours on Thursday, reaching $70.07. The company had a trading volume of 1,153,843 shares, compared to its average volume of 622,146. The firm has a market capitalization of $16.22 billion, a PE ratio of -114.25 and a beta of 2.02. The stock has a 50-day moving average of $58.92 and a two-hundred day moving average of $50.17. Zillow Group has a one year low of $34.33 and a one year high of $70.47. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.08. The company had revenue of $572.00 million during the quarter, compared to analyst estimates of $538.36 million. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) EPS. Analysts forecast that Zillow Group will post -0.33 earnings per share for the current year.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, CAO Jennifer Rock sold 3,208 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $52.84, for a total transaction of $169,510.72. Following the sale, the chief accounting officer now owns 76,486 shares of the company’s stock, valued at $4,041,520.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CAO Jennifer Rock sold 3,208 shares of Zillow Group stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $52.84, for a total transaction of $169,510.72. Following the completion of the sale, the chief accounting officer now directly owns 76,486 shares of the company’s stock, valued at approximately $4,041,520.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeremy Wacksman sold 4,480 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $52.83, for a total transaction of $236,678.40. Following the sale, the chief executive officer now directly owns 174,439 shares of the company’s stock, valued at $9,215,612.37. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 217,949 shares of company stock valued at $11,580,982. Company insiders own 17.14% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Future Financial Wealth Managment LLC bought a new stake in Zillow Group during the third quarter valued at approximately $29,000. EntryPoint Capital LLC purchased a new position in shares of Zillow Group in the 1st quarter worth approximately $53,000. Signaturefd LLC grew its holdings in Zillow Group by 29.7% during the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock valued at $71,000 after purchasing an additional 360 shares during the last quarter. GAMMA Investing LLC increased its stake in Zillow Group by 86.7% in the third quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock worth $75,000 after purchasing an additional 561 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Zillow Group during the first quarter worth approximately $84,000. 20.32% of the stock is owned by hedge funds and other institutional investors.

Zillow Group Company Profile

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.