Benchmark Reiterates Buy Rating for Zillow Group (NASDAQ:ZG)

Zillow Group (NASDAQ:ZG)‘s stock had its “buy” rating reaffirmed by Benchmark in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $60.00 target price on the technology company’s stock. Benchmark’s target price points to a potential upside of 44.79% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. Canaccord Genuity Group lowered their price target on shares of Zillow Group from $58.00 to $50.00 and set a “hold” rating on the stock in a research report on Monday. Susquehanna boosted their price target on shares of Zillow Group from $36.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Stephens reaffirmed an “overweight” rating and set a $79.00 target price on shares of Zillow Group in a research note on Wednesday, February 14th. Barclays boosted their price target on shares of Zillow Group from $32.00 to $40.00 and gave the stock an “underweight” rating in a report on Wednesday, February 21st. Finally, JMP Securities reiterated a “market outperform” rating and set a $68.00 price target on shares of Zillow Group in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $59.14.

Zillow Group Stock Down 1.3 %

Shares of NASDAQ ZG opened at $41.44 on Tuesday. The company’s 50-day simple moving average is $48.11 and its 200-day simple moving average is $47.66. Zillow Group has a 52-week low of $33.23 and a 52-week high of $59.23. The firm has a market cap of $9.67 billion, a price-to-earnings ratio of -60.94 and a beta of 1.83. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.22.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Tuesday, February 13th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.06. Zillow Group had a negative net margin of 8.12% and a negative return on equity of 2.32%. The business had revenue of $474.00 million for the quarter, compared to analyst estimates of $450.75 million. Equities analysts predict that Zillow Group will post -0.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Zillow Group news, Director Amy Bohutinsky sold 93,750 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $56.69, for a total transaction of $5,314,687.50. Following the completion of the transaction, the director now owns 5,652 shares in the company, valued at approximately $320,411.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Zillow Group news, Director Amy Bohutinsky sold 93,750 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $56.69, for a total transaction of $5,314,687.50. Following the completion of the transaction, the director now owns 5,652 shares in the company, valued at approximately $320,411.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dan Spaulding sold 5,114 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $55.45, for a total transaction of $283,571.30. Following the transaction, the insider now owns 43,180 shares of the company’s stock, valued at approximately $2,394,331. The disclosure for this sale can be found here. Insiders sold a total of 171,289 shares of company stock worth $9,642,508 in the last 90 days. Company insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

A number of large investors have recently made changes to their positions in ZG. Norges Bank acquired a new stake in Zillow Group in the 4th quarter valued at about $102,096,000. Vanguard Group Inc. grew its stake in Zillow Group by 27.4% in the 4th quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock valued at $456,861,000 after acquiring an additional 1,730,731 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of Zillow Group by 50.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 946,571 shares of the technology company’s stock worth $42,397,000 after purchasing an additional 317,683 shares during the last quarter. UBS Group AG boosted its stake in shares of Zillow Group by 73.0% during the 4th quarter. UBS Group AG now owns 420,170 shares of the technology company’s stock worth $23,832,000 after purchasing an additional 177,265 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Zillow Group by 244.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 171,881 shares of the technology company’s stock worth $8,226,000 after purchasing an additional 121,942 shares during the last quarter. Hedge funds and other institutional investors own 20.32% of the company’s stock.

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.