Zacks Investment Research upgraded shares of Zillow Group Inc. (NASDAQ:ZG) from a hold rating to a buy rating in a research note released on Thursday. They currently have $38.00 price target on the stock.
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 firms have also recently weighed in on ZG. Barclays PLC upped their price objective on shares of Zillow Group from $32.00 to $34.00 and gave the stock an equal weight rating in a research report on Friday, August 5th. Cowen and Company reaffirmed a market perform rating and set a $37.00 price objective (up previously from $29.00) on shares of Zillow Group in a research report on Monday, August 8th. JMP Securities reaffirmed a buy rating and set a $35.00 price objective on shares of Zillow Group in a research report on Wednesday, June 8th. Canaccord Genuity upped their price objective on shares of Zillow Group from $40.00 to $42.00 and gave the stock a buy rating in a research report on Friday, August 5th. Finally, Susquehanna reaffirmed a neutral rating and set a $35.00 price objective (up previously from $30.00) on shares of Zillow Group in a research report on Monday, August 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. Zillow Group presently has an average rating of Hold and a consensus target price of $36.38.
Shares of Zillow Group (NASDAQ:ZG) opened at 33.45 on Thursday. Zillow Group has a 12 month low of $16.45 and a 12 month high of $39.99. The firm’s market cap is $6.00 billion. The stock’s 50 day moving average is $34.24 and its 200 day moving average is $31.98.
Zillow Group (NASDAQ:ZG) last announced its earnings results on Thursday, August 4th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.68. The business earned $208.40 million during the quarter, compared to the consensus estimate of $205.90 million. Zillow Group had a negative net margin of 34.51% and a negative return on equity of 9.25%. Zillow Group’s revenue was up 31.3% compared to the same quarter last year. Analysts forecast that Zillow Group will post ($0.56) EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY increased its stake in Zillow Group by 25.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 3,130 shares of the company’s stock worth $115,000 after buying an additional 643 shares in the last quarter. BlackRock Inc. acquired a new position in Zillow Group during the first quarter worth about $166,000. Legal & General Group Plc boosted its position in Zillow Group by 67.4% in the second quarter. Legal & General Group Plc now owns 5,303 shares of the company’s stock worth $194,000 after buying an additional 2,135 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new position in Zillow Group during the second quarter worth about $202,000. Finally, Rafferty Asset Management LLC acquired a new position in Zillow Group during the second quarter worth about $202,000. 29.86% of the stock is owned by institutional investors and hedge funds.
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