Zillow Group (NASDAQ:ZG) Upgraded by BNP Paribas to “Strong-Buy” Rating

Zillow Group (NASDAQ:ZG) was upgraded by research analysts at BNP Paribas to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the company. DA Davidson restated a “buy” rating and set a $95.00 price objective on shares of Zillow Group in a research report on Thursday, October 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Zillow Group in a report on Wednesday, October 8th. Gordon Haskett upgraded shares of Zillow Group from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Friday, October 3rd. Mizuho reissued a “neutral” rating and set a $70.00 target price (down from $100.00) on shares of Zillow Group in a report on Friday, January 9th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $87.00 price target on shares of Zillow Group in a research note on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.08.

Zillow Group Price Performance

ZG stock opened at $67.17 on Wednesday. The stock has a market cap of $16.26 billion, a price-to-earnings ratio of -479.75, a P/E/G ratio of 3.70 and a beta of 2.03. The company has a 50 day simple moving average of $69.28 and a 200 day simple moving average of $73.88. Zillow Group has a 1 year low of $56.63 and a 1 year high of $90.22.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Thursday, October 30th. The technology company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). The company had revenue of $676.00 million during the quarter, compared to analyst estimates of $670.28 million. Zillow Group had a negative net margin of 1.29% and a negative return on equity of 0.56%. The business’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 EPS. On average, equities research analysts anticipate that Zillow Group will post 0.32 EPS for the current fiscal year.

Insider Transactions at Zillow Group

In other Zillow Group news, CEO Jeremy Wacksman sold 10,855 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $69.99, for a total transaction of $759,741.45. Following the transaction, the chief executive officer directly owned 134,712 shares in the company, valued at approximately $9,428,492.88. This represents a 7.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO David A. Beitel sold 3,893 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $71.12, for a total transaction of $276,870.16. Following the sale, the chief technology officer directly owned 140,656 shares of the company’s stock, valued at approximately $10,003,454.72. This trade represents a 2.69% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 67,511 shares of company stock valued at $4,766,357. 17.14% of the stock is owned by insiders.

Hedge Funds Weigh In On Zillow Group

Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC increased its position in shares of Zillow Group by 40.5% during the first quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company’s stock valued at $862,000 after acquiring an additional 3,717 shares during the last quarter. Millennium Management LLC increased its position in shares of Zillow Group by 110.8% during the 1st quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock valued at $19,456,000 after purchasing an additional 152,955 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Zillow Group by 7.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,912 shares of the technology company’s stock worth $5,878,000 after purchasing an additional 5,737 shares during the period. Strs Ohio bought a new stake in shares of Zillow Group during the 1st quarter worth $815,000. Finally, Voya Investment Management LLC boosted its holdings in shares of Zillow Group by 2.8% in the 1st quarter. Voya Investment Management LLC now owns 5,778 shares of the technology company’s stock worth $386,000 after buying an additional 156 shares during the last quarter. Institutional investors and hedge funds own 20.32% of the company’s stock.

Zillow Group Company Profile

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.