Zillow Group (NASDAQ:ZG) Earns “Outperform” Rating from Royal Bank Of Canada

Zillow Group (NASDAQ:ZG)‘s stock had its “outperform” rating reaffirmed by Royal Bank Of Canada in a research report issued on Wednesday,Benzinga reports. They presently have a $95.00 price target on the technology company’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 125.98% from the company’s previous close.

Other analysts also recently issued reports about the company. Barclays decreased their target price on Zillow Group from $72.00 to $66.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 11th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Zillow Group in a research report on Tuesday, March 17th. Wells Fargo & Company cut their price target on Zillow Group from $73.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 10th. Sanford C. Bernstein decreased their price objective on Zillow Group from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, January 12th. Finally, KeyCorp lowered their price objective on Zillow Group from $90.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. Fourteen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $77.05.

Zillow Group Stock Down 3.1%

ZG opened at $42.04 on Wednesday. Zillow Group has a twelve month low of $40.69 and a twelve month high of $90.22. The company’s 50-day moving average price is $50.81 and its two-hundred day moving average price is $64.62. The stock has a market cap of $10.09 billion, a price-to-earnings ratio of 467.16, a PEG ratio of 2.43 and a beta of 2.05.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Tuesday, February 10th. The technology company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03). The company had revenue of $654.00 million for the quarter, compared to analysts’ expectations of $650.40 million. Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.The company’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 EPS. As a group, sell-side analysts anticipate that Zillow Group will post 0.32 earnings per share for the current year.

Insider Activity

In related news, CFO Jeremy Hofmann sold 7,786 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $43.73, for a total transaction of $340,481.78. Following the sale, the chief financial officer directly owned 57,487 shares in the company, valued at approximately $2,513,906.51. The trade was a 11.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dan Spaulding sold 5,361 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $43.95, for a total value of $235,615.95. Following the sale, the insider directly owned 41,080 shares in the company, valued at $1,805,466. This trade represents a 11.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 60,801 shares of company stock valued at $2,683,986. 17.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its holdings in shares of Zillow Group by 78.9% in the third quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock worth $33,000 after buying an additional 187 shares in the last quarter. Arax Advisory Partners grew its stake in Zillow Group by 402.3% during the fourth quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock valued at $30,000 after acquiring an additional 354 shares in the last quarter. First Command Advisory Services Inc. bought a new stake in Zillow Group during the 4th quarter worth approximately $34,000. Kestra Advisory Services LLC bought a new stake in Zillow Group during the 4th quarter worth approximately $47,000. Finally, Quarry LP purchased a new stake in Zillow Group in the 4th quarter worth approximately $56,000. 20.32% of the stock is currently owned by institutional investors.

Zillow Group Company Profile

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.