Benchmark Cuts Zillow Group (ZG) Price Target to $45.00

Zillow Group (NASDAQ:ZG) had its price target reduced by investment analysts at Benchmark to $45.00 in a note issued to investors on Wednesday, The Fly reports. The brokerage currently has a “buy” rating on the technology company’s stock. Benchmark’s price target indicates a potential upside of 10.43% from the company’s previous close.

Several other analysts also recently issued reports on the stock. ValuEngine downgraded shares of Zillow Group from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. Zacks Investment Research downgraded shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 10th. Canaccord Genuity set a $60.00 price target on shares of Zillow Group and gave the company a “buy” rating in a research report on Friday, September 7th. Deutsche Bank reduced their price target on shares of Zillow Group from $45.00 to $39.00 and set a “hold” rating for the company in a research report on Monday. Finally, Craig Hallum set a $40.00 price target on shares of Zillow Group and gave the company a “hold” rating in a research report on Tuesday, October 9th. Fourteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $46.89.

Zillow Group stock opened at $40.75 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.18 and a quick ratio of 8.13. Zillow Group has a 52-week low of $36.55 and a 52-week high of $65.42. The company has a market cap of $8.39 billion, a price-to-earnings ratio of 271.67 and a beta of 1.12.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Monday, August 6th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.19. The firm had revenue of $325.25 million during the quarter, compared to analyst estimates of $325.52 million. Zillow Group had a negative net margin of 7.54% and a positive return on equity of 0.23%. The company’s revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.04 EPS. Analysts forecast that Zillow Group will post -0.14 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. boosted its holdings in shares of Zillow Group by 5.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 161,861 shares of the technology company’s stock worth $9,672,000 after buying an additional 7,916 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Zillow Group by 2.9% in the 2nd quarter. Bank of Montreal Can now owns 33,865 shares of the technology company’s stock worth $2,024,000 after buying an additional 970 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Zillow Group by 982.4% in the 2nd quarter. Morgan Stanley now owns 1,764,950 shares of the technology company’s stock worth $105,457,000 after buying an additional 1,601,885 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Zillow Group by 90.1% in the 2nd quarter. Renaissance Technologies LLC now owns 199,800 shares of the technology company’s stock worth $11,938,000 after buying an additional 94,700 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Zillow Group in the 2nd quarter worth about $896,000. 25.73% of the stock is currently owned by hedge funds and other institutional investors.

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 consumers 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.

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