Cantor Fitzgerald Boosts Zillow Group (NASDAQ:ZG) Price Target to $70.00

Zillow Group (NASDAQ:ZG) had its price objective hoisted by investment analysts at Cantor Fitzgerald from $62.00 to $70.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Cantor Fitzgerald’s price objective indicates a potential downside of 16.51% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. KeyCorp upgraded Zillow Group from a “sector weight” rating to an “overweight” rating and set a $100.00 target price on the stock in a research report on Monday, February 3rd. Robert W. Baird initiated coverage on shares of Zillow Group in a research note on Friday, January 31st. They set a “neutral” rating and a $88.00 target price on the stock. Barclays increased their target price on shares of Zillow Group from $36.00 to $50.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. Craig Hallum boosted their price target on shares of Zillow Group from $70.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, Evercore ISI boosted their target price on Zillow Group from $55.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $79.21.

Zillow Group Stock Performance

NASDAQ ZG opened at $83.84 on Wednesday. The firm has a market capitalization of $19.58 billion, a P/E ratio of -147.09, a PEG ratio of 15.65 and a beta of 2.09. The stock has a 50-day simple moving average of $75.77 and a two-hundred day simple moving average of $65.66. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13. Zillow Group has a fifty-two week low of $38.06 and a fifty-two week high of $86.58.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Tuesday, February 11th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. On average, equities analysts forecast that Zillow Group will post -0.42 earnings per share for the current year.

Insiders Place Their Bets

In other Zillow Group news, CAO Jennifer Rock sold 8,225 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $73.05, for a total transaction of $600,836.25. Following the transaction, the chief accounting officer now owns 61,424 shares of the company’s stock, valued at $4,487,023.20. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO David A. Beitel sold 56,750 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $72.39, for a total value of $4,108,132.50. Following the sale, the chief technology officer now owns 92 shares of the company’s stock, valued at $6,659.88. This represents a 99.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 142,730 shares of company stock valued at $10,896,034 in the last quarter. 17.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. grew its position in shares of Zillow Group by 70.2% during the fourth quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock worth $30,000 after buying an additional 172 shares in the last quarter. Asset Dedication LLC acquired a new stake in shares of Zillow Group during the fourth quarter worth $47,000. Assetmark Inc. lifted its holdings in Zillow Group by 18,875.0% in the fourth quarter. Assetmark Inc. now owns 759 shares of the technology company’s stock worth $54,000 after acquiring an additional 755 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Zillow Group by 24.0% in the 4th quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock worth $58,000 after purchasing an additional 159 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in Zillow Group in the fourth quarter valued at $63,000. Hedge funds and other institutional investors own 20.32% of the company’s stock.

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.