Needham & Company LLC started coverage on shares of Zillow Group Inc. (NASDAQ:ZG) in a research report report published on Friday. The firm issued a buy rating and a $40.00 price objective on the stock.
Other research analysts also recently issued research reports about the company. Barclays PLC upped their price objective on Zillow Group from $32.00 to $34.00 and gave the company an equal weight rating in a research note on Friday, August 5th. Cowen and Company reiterated a market perform rating and issued a $37.00 target price (up from $29.00) on shares of Zillow Group in a report on Monday, August 8th. Canaccord Genuity upped their target price on Zillow Group from $40.00 to $42.00 and gave the company a buy rating in a report on Friday, August 5th. Susquehanna reiterated a neutral rating and issued a $35.00 target price (up from $30.00) on shares of Zillow Group in a report on Monday, August 8th. Finally, Benchmark Co. upped their target price on Zillow Group from $34.00 to $43.00 and gave the company a buy rating in a report on Friday, August 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $36.38.
Shares of Zillow Group (NASDAQ:ZG) opened at 32.58 on Friday. The firm’s market cap is $5.85 billion. The company’s 50 day moving average is $34.17 and its 200-day moving average is $31.99. Zillow Group has a 12 month low of $16.45 and a 12 month high of $39.99.
Zillow Group (NASDAQ:ZG) last issued its earnings results on Thursday, August 4th. The company reported ($0.71) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.68. The business had revenue of $208.40 million for the quarter, compared to analyst estimates of $205.90 million. Zillow Group had a negative return on equity of 9.25% and a negative net margin of 34.51%. Zillow Group’s revenue for the quarter was up 31.3% compared to the same quarter last year. Equities research analysts predict that Zillow Group will post ($0.56) EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. Caledonia Private Investments Pty Ltd bought a new stake in Zillow Group during the first quarter worth approximately $332,231,000. Wellington Management Group LLP acquired a new stake in shares of Zillow Group during the first quarter valued at about $135,750,000. BlackRock Institutional Trust Company N.A. acquired a new stake in shares of Zillow Group during the first quarter valued at about $26,596,000. 1832 Asset Management L.P. acquired a new stake in shares of Zillow Group during the second quarter valued at about $24,431,000. Finally, Friess Associates LLC acquired a new stake in shares of Zillow Group during the second quarter valued at about $11,911,000. 29.86% of the stock is owned by institutional investors and hedge funds.
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