Evercore ISI Raises Zillow Group (NASDAQ:ZG) Price Target to $75.00

Zillow Group (NASDAQ:ZG) had its target price increased by equities research analysts at Evercore ISI from $55.00 to $75.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Evercore ISI’s price objective suggests a potential upside of 10.02% from the company’s previous close.

A number of other research firms also recently commented on ZG. Wedbush upgraded Zillow Group from a “neutral” rating to an “outperform” rating and increased their target price for the company from $50.00 to $80.00 in a research report on Monday, September 16th. Benchmark raised their price target on Zillow Group from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada restated an “outperform” rating and issued a $66.00 price target on shares of Zillow Group in a research report on Tuesday, October 22nd. Citigroup raised their price target on Zillow Group from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Susquehanna raised their price target on Zillow Group from $42.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.76.

Zillow Group Price Performance

Shares of NASDAQ ZG traded up $12.09 during midday trading on Thursday, reaching $68.17. 115,109 shares of the stock traded hands, compared to its average volume of 617,517. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12. The stock has a market capitalization of $15.78 billion, a PE ratio of -104.67 and a beta of 2.02. Zillow Group has a one year low of $34.33 and a one year high of $68.89. The company’s 50 day moving average is $58.92 and its 200 day moving average is $50.17.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Wednesday, August 7th. The technology company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. The firm had revenue of $572.00 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.05) EPS. On average, equities research analysts anticipate that Zillow Group will post -0.33 earnings per share for the current year.

Insider Activity

In other news, Chairman Lloyd D. Frink sold 150,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $50.83, for a total transaction of $7,624,500.00. Following the transaction, the chairman now owns 582 shares in the company, valued at approximately $29,583.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Zillow Group news, insider Dan Spaulding sold 2,991 shares of Zillow Group stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $53.18, for a total value of $159,061.38. Following the transaction, the insider now owns 70,342 shares in the company, valued at $3,740,787.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Lloyd D. Frink sold 150,000 shares of Zillow Group stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $50.83, for a total value of $7,624,500.00. Following the completion of the transaction, the chairman now owns 582 shares in the company, valued at $29,583.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 217,949 shares of company stock worth $11,580,982. Company insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC purchased a new stake in shares of Zillow Group during the third quarter worth about $29,000. EntryPoint Capital LLC purchased a new stake in shares of Zillow Group during the first quarter worth about $53,000. Signaturefd LLC grew its stake in shares of Zillow Group by 29.7% during the second quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock worth $71,000 after acquiring an additional 360 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Zillow Group by 86.7% during the third quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock worth $75,000 after acquiring an additional 561 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Zillow Group during the first quarter worth about $84,000. Hedge funds and other institutional investors 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.