Zillow Group (NASDAQ:ZG) Given a $52.00 Price Target at Canaccord Genuity

Zillow Group (NASDAQ:ZG) has been assigned a $52.00 price objective by Canaccord Genuity in a research note issued to investors on Wednesday, June 19th, TipRanks reports. The firm presently has a “hold” rating on the technology company’s stock. Canaccord Genuity’s price target indicates a potential upside of 4.19% from the company’s current price.

A number of other research firms have also commented on ZG. Cowen assumed coverage on Kontoor Brands in a research note on Monday, April 8th. They issued a “neutral” rating and a $7.50 price objective on the stock. Barclays reissued a “hold” rating on shares of Mettler-Toledo International in a research note on Wednesday, May 15th. Bank of America reissued a “hold” rating on shares of TELUS in a research note on Friday, May 10th. Guggenheim boosted their target price on Zillow Group from $45.00 to $50.00 in a research report on Tuesday, June 18th. Finally, Craig Hallum downgraded Barnes & Noble from a “buy” rating to a “hold” rating and set a $7.00 target price for the company. in a research report on Friday, June 7th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $45.46.

Shares of ZG stock traded up $1.21 during trading on Wednesday, reaching $49.91. The company had a trading volume of 745,437 shares, compared to its average volume of 869,878. The stock has a 50 day moving average price of $45.05. The company has a quick ratio of 3.98, a current ratio of 4.73 and a debt-to-equity ratio of 0.25. Zillow Group has a one year low of $26.20 and a one year high of $64.66. The firm has a market cap of $9.99 billion, a P/E ratio of -191.96 and a beta of 0.82.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Thursday, May 9th. The technology company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.08. The business had revenue of $454.10 million for the quarter, compared to analysts’ expectations of $432.09 million. Zillow Group had a negative return on equity of 3.18% and a negative net margin of 11.35%. Zillow Group’s quarterly revenue was up 51.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.07 earnings per share. As a group, sell-side analysts anticipate that Zillow Group will post -1.62 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of ZG. Westpac Banking Corp raised its position in shares of Zillow Group by 24.2% in the 4th quarter. Westpac Banking Corp now owns 26,770 shares of the technology company’s stock worth $841,000 after acquiring an additional 5,210 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Zillow Group by 40.5% in the 4th quarter. California Public Employees Retirement System now owns 245,461 shares of the technology company’s stock worth $7,715,000 after acquiring an additional 70,759 shares in the last quarter. BlackRock Inc. raised its position in shares of Zillow Group by 4.0% in the 4th quarter. BlackRock Inc. now owns 2,328,142 shares of the technology company’s stock worth $73,173,000 after acquiring an additional 88,853 shares in the last quarter. Aviva PLC raised its position in shares of Zillow Group by 111.8% in the 4th quarter. Aviva PLC now owns 20,904 shares of the technology company’s stock worth $657,000 after acquiring an additional 11,032 shares in the last quarter. Finally, Resources Investment Advisors Inc. bought a new position in shares of Zillow Group in the 4th quarter worth about $47,000. 24.15% of the stock is owned by hedge funds and other institutional investors.

Zillow Group Company Profile

Zillow Group, Inc operates real estate and home-related brands on mobile and the Web in the United States. The company offers a portfolio of brands and products to empowering consumers with unparalleled data, inspiration, and knowledge around homes and connecting them with real estate professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.

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Analyst Recommendations for Zillow Group (NASDAQ:ZG)

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