Zillow Group (NASDAQ:ZG) Stock Price Up 5.9% on Analyst Upgrade

Zillow Group Inc (NASDAQ:ZG) shares traded up 5.9% during mid-day trading on Thursday after Truist raised their price target on the stock from $108.00 to $115.00. The stock traded as high as $108.07 and last traded at $107.56. 1,175,172 shares were traded during mid-day trading, an increase of 42% from the average session volume of 824,992 shares. The stock had previously closed at $101.54.

Several other equities analysts have also recently issued reports on the company. BTIG Research boosted their target price on Zillow Group from $99.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, September 17th. Citigroup upped their price objective on Zillow Group from $55.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Canaccord Genuity raised their target price on Zillow Group from $80.00 to $92.00 and gave the company a “buy” rating in a report on Friday, August 7th. TheStreet upgraded shares of Zillow Group from a “d+” rating to a “c-” rating in a research report on Monday, June 8th. Finally, Royal Bank of Canada increased their price target on shares of Zillow Group from $58.00 to $74.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $82.05.

Several large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in shares of Zillow Group by 2,295.5% in the second quarter. PNC Financial Services Group Inc. now owns 527 shares of the technology company’s stock valued at $30,000 after purchasing an additional 505 shares during the period. US Bancorp DE grew its holdings in Zillow Group by 33.0% in the 1st quarter. US Bancorp DE now owns 1,815 shares of the technology company’s stock valued at $62,000 after buying an additional 450 shares during the period. Private Advisor Group LLC acquired a new position in shares of Zillow Group during the 2nd quarter valued at about $62,000. Schroder Investment Management Group purchased a new position in shares of Zillow Group during the 1st quarter worth about $108,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Zillow Group by 581.6% in the first quarter. Tower Research Capital LLC TRC now owns 3,367 shares of the technology company’s stock worth $114,000 after acquiring an additional 2,873 shares during the last quarter. 25.98% of the stock is owned by institutional investors and hedge funds.

The company has a quick ratio of 9.73, a current ratio of 10.08 and a debt-to-equity ratio of 0.50. The business’s fifty day moving average is $87.15 and its 200-day moving average is $60.14. The stock has a market capitalization of $24.41 billion, a PE ratio of -53.67 and a beta of 1.36.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Thursday, August 6th. The technology company reported ($0.17) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.48) by $0.31. The firm had revenue of $768.35 million for the quarter, compared to analysts’ expectations of $615.19 million. Zillow Group had a negative return on equity of 9.76% and a negative net margin of 11.54%. The firm’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.14) earnings per share. As a group, sell-side analysts anticipate that Zillow Group Inc will post -1.34 EPS for the current fiscal year.

Zillow Group Company Profile (NASDAQ:ZG)

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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