Zillow Group (NASDAQ:ZG) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of Zillow Group (NASDAQ:ZG) in a report released on Thursday morning,Benzinga reports. JMP Securities currently has a $87.00 price target on the technology company’s stock.

Several other analysts also recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Zillow Group from $75.00 to $73.00 and set an “equal weight” rating for the company in a report on Thursday, September 11th. Evercore ISI lifted their target price on shares of Zillow Group from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Canaccord Genuity Group lifted their target price on shares of Zillow Group from $76.00 to $84.00 and gave the stock a “hold” rating in a report on Thursday, August 7th. DA Davidson lifted their target price on shares of Zillow Group from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Finally, Piper Sandler boosted their price objective on shares of Zillow Group from $82.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Fourteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Zillow Group has an average rating of “Moderate Buy” and an average target price of $86.18.

Zillow Group Price Performance

Shares of ZG opened at $75.47 on Thursday. The firm has a 50-day moving average of $80.35 and a 200-day moving average of $71.85. Zillow Group has a one year low of $55.08 and a one year high of $90.22. The company has a market cap of $18.28 billion, a PE ratio of -290.27, a price-to-earnings-growth ratio of 21.30 and a beta of 2.02.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Wednesday, August 6th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.04). The company had revenue of $655.00 million for the quarter, compared to the consensus estimate of $647.06 million. Zillow Group had a negative return on equity of 1.26% and a negative net margin of 2.60%.The business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 EPS. Analysts expect that Zillow Group will post 0.32 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO David A. Beitel sold 22,510 shares of Zillow Group stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $90.97, for a total value of $2,047,734.70. Following the transaction, the chief technology officer directly owned 144,549 shares of the company’s stock, valued at $13,149,622.53. This trade represents a 13.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jeremy Hofmann sold 25,000 shares of Zillow Group stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $89.99, for a total transaction of $2,249,750.00. Following the completion of the transaction, the chief financial officer directly owned 84,146 shares in the company, valued at $7,572,298.54. This trade represents a 22.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 657,087 shares of company stock valued at $56,286,479 over the last three months. 17.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. National Bank of Canada FI increased its holdings in shares of Zillow Group by 79.4% during the first quarter. National Bank of Canada FI now owns 488 shares of the technology company’s stock worth $33,000 after buying an additional 216 shares in the last quarter. Salem Investment Counselors Inc. acquired a new position in shares of Zillow Group during the first quarter worth $42,000. CX Institutional acquired a new position in shares of Zillow Group during the first quarter worth $46,000. Wood Tarver Financial Group LLC acquired a new position in shares of Zillow Group during the fourth quarter worth $70,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Zillow Group by 33.0% during the first quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the technology company’s stock worth $75,000 after buying an additional 280 shares in the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

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.