Zillow Group Inc. (NASDAQ:ZG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The brokerage currently has a $38.00 target price on the stock. Zacks Investment Research’s price objective indicates a potential upside of 15.22% from the company’s current price.
According to Zacks, “Zillow Group, Inc. provides real estate and home-related brands on the Web and mobile. The company focuses on home lifecycle which include renting, buying, selling, financing and home improvement. Its portfolio of consumer brands consists of Zillow(R), Trulia(R), StreetEasy(R) and HotPads(R). The company’s business brands includes ActiveRain(R), Diverse Solutions(R), Market Leader(R), Mortech(R), Postlets(R) and Retsly(TM). Zillow Group Inc., formerly known as Zillow Inc., is headquartered in Seattle. “
A number of other equities analysts have also recently issued reports on the company. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $38.00 target price (up previously from $34.00) on shares of Zillow Group in a report on Friday, June 17th. Benchmark Co. increased their target price on Zillow Group from $34.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Susquehanna reiterated a “neutral” rating and set a $35.00 target price (up previously from $30.00) on shares of Zillow Group in a report on Monday, August 8th. Vetr cut Zillow Group from a “sell” rating to a “strong sell” rating and set a $31.00 target price for the company. in a report on Monday, June 20th. Finally, Pacific Crest reiterated a “hold” rating on shares of Zillow Group in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $36.38.
Zillow Group (NASDAQ:ZG) opened at 32.98 on Thursday. The firm has a 50-day moving average price of $34.27 and a 200-day moving average price of $31.80. Zillow Group has a 52 week low of $16.45 and a 52 week high of $39.99. The stock’s market cap is $5.92 billion.
Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data 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%. The firm’s revenue was up 31.3% on a year-over-year basis. On average, 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. Metropolitan Life Insurance Co. NY increased its stake in Zillow Group by 25.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 3,130 shares of the company’s stock worth $115,000 after buying an additional 643 shares during the last quarter. BlackRock Inc. acquired a new stake in Zillow Group during the first quarter worth $166,000. Legal & General Group Plc increased its stake in Zillow Group by 67.4% in the second quarter. Legal & General Group Plc now owns 5,303 shares of the company’s stock worth $194,000 after buying an additional 2,135 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new stake in Zillow Group during the second quarter worth $202,000. Finally, Rafferty Asset Management LLC acquired a new stake in Zillow Group during the second quarter worth $202,000. Institutional investors own 29.86% of the company’s stock.
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