Morgan Stanley Upgrades Zillow Group (NASDAQ:ZG) to Overweight

Zillow Group (NASDAQ:ZG) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued on Thursday, January 11th. The firm currently has a $39.00 price target on the technology company’s stock. Morgan Stanley’s price objective would suggest a potential downside of 10.59% from the stock’s current price.

Several other equities research analysts have also recently commented on ZG. Canaccord Genuity restated a “buy” rating and set a $52.00 price target on shares of Zillow Group in a research note on Wednesday, November 8th. Barclays increased their price target on Zillow Group from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 8th. Royal Bank of Canada increased their price target on Zillow Group from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 8th. JMP Securities increased their price target on Zillow Group from $55.00 to $56.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 8th. Finally, Macquarie assumed coverage on Zillow Group in a report on Monday, September 25th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $47.07.

Shares of Zillow Group (ZG) traded down $0.52 during mid-day trading on Thursday, hitting $43.62. 151,841 shares of the stock were exchanged, compared to its average volume of 275,367. Zillow Group has a 52-week low of $32.63 and a 52-week high of $50.91. The company has a market capitalization of $8,416.27, a price-to-earnings ratio of -188.09 and a beta of 1.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 6.44 and a quick ratio of 6.44.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. Zillow Group had a negative net margin of 3.99% and a negative return on equity of 0.25%. The firm had revenue of $282.00 million during the quarter, compared to analyst estimates of $276.57 million. During the same period in the previous year, the business posted $0.17 earnings per share. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. sell-side analysts forecast that Zillow Group will post -0.06 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC acquired a new stake in shares of Zillow Group during the 2nd quarter worth approximately $32,613,000. Caledonia Private Investments Pty Ltd grew its position in Zillow Group by 2.1% in the 3rd quarter. Caledonia Private Investments Pty Ltd now owns 13,909,042 shares of the technology company’s stock valued at $558,448,000 after acquiring an additional 280,132 shares in the last quarter. Quantitative Investment Management LLC acquired a new position in Zillow Group in the 2nd quarter valued at about $12,532,000. Balyasny Asset Management LLC acquired a new position in Zillow Group in the 2nd quarter valued at about $5,101,000. Finally, Bank of Nova Scotia acquired a new position in Zillow Group in the 2nd quarter valued at about $4,132,000. Institutional investors and hedge funds own 25.41% of the company’s stock.

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About Zillow Group

Zillow Group, Inc operates real estate and home-related information marketplaces on mobile and the Web in the United States. The company offers a portfolio of brands and products to enable people find information about homes and connect with local professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.

Analyst Recommendations for Zillow Group (NASDAQ:ZG)

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