Zillow Group (NASDAQ:ZG) Price Target Raised to $98.00 at Citigroup

Zillow Group (NASDAQ:ZG) had its target price increased by analysts at Citigroup from $95.00 to $98.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Citigroup’s target price indicates a potential upside of 30.81% from the stock’s previous close.

A number of other equities analysts have also recently commented on ZG. Canaccord Genuity Group lifted their price objective on shares of Zillow Group from $64.00 to $86.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. Cantor Fitzgerald lifted their target price on Zillow Group from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday. Evercore ISI lifted their target price on Zillow Group from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday. Craig Hallum lifted their target price on Zillow Group from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, JMP Securities lifted their target price on Zillow Group from $82.00 to $92.00 and gave the company a “market outperform” rating in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Zillow Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Zillow Group Stock Up 0.1 %

Shares of NASDAQ:ZG traded up $0.05 during midday trading on Thursday, hitting $74.92. The stock had a trading volume of 759,095 shares, compared to its average volume of 524,400. Zillow Group has a 12 month low of $38.06 and a 12 month high of $86.58. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11. The business’s 50-day simple moving average is $75.68 and its 200-day simple moving average is $65.73. The company has a market cap of $17.50 billion, a P/E ratio of -131.20, a PEG ratio of 15.65 and a beta of 2.09.

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

Insider Buying and Selling at Zillow Group

In other Zillow Group news, CFO Jeremy Hofmann sold 23,388 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $84.98, for a total value of $1,987,512.24. Following the completion of the transaction, the chief financial officer now owns 99,362 shares in the company, valued at $8,443,782.76. This represents a 19.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer Rock sold 8,225 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $73.05, for a total value of $600,836.25. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold 142,730 shares of company stock worth $10,896,034 in the last quarter. 17.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zillow Group

Several large investors have recently added to or reduced their stakes in the company. Creative Planning lifted its position in Zillow Group by 7.2% in the third quarter. Creative Planning now owns 6,537 shares of the technology company’s stock valued at $405,000 after purchasing an additional 439 shares during the last quarter. Vontobel Holding Ltd. lifted its position in Zillow Group by 4.8% in the third quarter. Vontobel Holding Ltd. now owns 16,407 shares of the technology company’s stock valued at $1,016,000 after purchasing an additional 750 shares during the last quarter. Private Advisor Group LLC bought a new position in shares of Zillow Group during the third quarter valued at approximately $747,000. Avitas Wealth Management LLC purchased a new stake in Zillow Group in the third quarter worth $1,562,000. Finally, US Bancorp DE grew its stake in Zillow Group by 6.5% in the third quarter. US Bancorp DE now owns 297,819 shares of the technology company’s stock worth $18,444,000 after purchasing an additional 18,136 shares during the period. 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.