Zillow Group (NASDAQ:ZG) Price Target Cut to $65.00

Zillow Group (NASDAQ:ZG – Get Rating) had its price objective lowered by equities researchers at Royal Bank of Canada from $70.00 to $65.00 in a note issued to investors on Tuesday, The Fly reports. Royal Bank of Canada’s target price indicates a potential upside of 53.99% from the company’s previous close.

Several other research firms also recently issued reports on ZG. Morgan Stanley boosted their price objective on shares of Zillow Group from $74.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Friday, February 11th. Susquehanna lowered their price target on Zillow Group from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, February 11th. The Goldman Sachs Group assumed coverage on Zillow Group in a research report on Wednesday, March 30th. They issued a “neutral” rating and a $57.00 price objective on the stock. Susquehanna Bancshares decreased their target price on Zillow Group from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday, February 11th. Finally, Benchmark increased their target price on Zillow Group from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, February 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $96.17.

Shares of ZG opened at $42.21 on Tuesday. Zillow Group has a twelve month low of $40.37 and a twelve month high of $144.84. The firm has a market capitalization of $10.58 billion, a P/E ratio of -20.29 and a beta of 1.43. The company has a current ratio of 1.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25. The stock’s fifty day simple moving average is $50.93 and its 200 day simple moving average is $59.23.

Zillow Group (NASDAQ:ZG – Get Rating) last released its quarterly earnings data on Thursday, February 10th. The technology company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($1.48) by $1.06. The company had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.29 billion. Zillow Group had a negative return on equity of 7.26% and a negative net margin of 6.48%. The company’s quarterly revenue was up 392.1% compared to the same quarter last year. During the same period last year, the business posted $0.20 EPS. Sell-side analysts predict that Zillow Group will post 0.76 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Chicago Capital LLC increased its position in shares of Zillow Group by 1,445.7% in the 1st quarter. Chicago Capital LLC now owns 326,829 shares of the technology company’s stock worth $15,763,000 after purchasing an additional 305,684 shares during the last quarter. Great Valley Advisor Group Inc. increased its position in shares of Zillow Group by 62.6% in the 1st quarter. Great Valley Advisor Group Inc. now owns 5,873 shares of the technology company’s stock worth $283,000 after purchasing an additional 2,260 shares during the last quarter. Verde Capital Management increased its position in shares of Zillow Group by 45.8% in the 1st quarter. Verde Capital Management now owns 47,306 shares of the technology company’s stock worth $2,282,000 after purchasing an additional 14,859 shares during the last quarter. Atticus Wealth Management LLC bought a new stake in shares of Zillow Group during the 1st quarter valued at about $48,000. Finally, Norges Bank bought a new stake in shares of Zillow Group during the 4th quarter valued at about $81,054,000. 20.64% of the stock is owned by institutional investors.

Zillow Group Company Profile (Get Rating)

Zillow Group, Inc, a digital real estate company, operates real estate brands on mobile applications and Websites in the United States. The company operates through three segments: Homes; Internet, Media & Technology; and Mortgages. The Homes segment is involved in resale of homes; and title and escrow services to home buyers and sellers, including title search procedures for title insurance policies, escrow, and other closing services.

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