Zillow Group (ZG) Given New $39.00 Price Target at Deutsche Bank

Zillow Group (NASDAQ:ZG) had its price target reduced by equities research analysts at Deutsche Bank from $45.00 to $39.00 in a research note issued to investors on Monday. The firm currently has a “hold” rating on the technology company’s stock. Deutsche Bank’s target price would indicate a potential downside of 4.29% from the company’s current price.

Several other brokerages also recently commented on ZG. Zacks Investment Research raised Zillow Group from a “sell” rating to a “hold” rating in a report on Monday, July 16th. Bank of America downgraded Zillow Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $70.00 to $60.00 in a report on Tuesday, August 7th. Royal Bank of Canada cut their price target on Zillow Group to $46.00 and set an “in-line” rating on the stock in a research note on Tuesday, August 7th. DA Davidson set a $52.00 price objective on shares of Zillow Group and gave the company a “hold” rating in a research report on Tuesday, August 7th. Finally, Jefferies Financial Group lowered their price objective on shares of Zillow Group from $60.00 to $52.00 and set a “hold” rating for the company in a research report on Tuesday, August 7th. Fourteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $48.50.

Shares of ZG opened at $40.75 on Monday. Zillow Group has a 12-month low of $36.55 and a 12-month high of $65.42. The stock has a market cap of $8.39 billion, a P/E ratio of 271.67 and a beta of 1.12. The company has a debt-to-equity ratio of 0.14, a quick ratio of 8.13 and a current ratio of 8.18.

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

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in Zillow Group by 10.8% during the 2nd quarter. BlackRock Inc. now owns 2,096,552 shares of the technology company’s stock worth $125,268,000 after purchasing an additional 204,886 shares in the last quarter. Morgan Stanley increased its holdings in Zillow Group by 982.4% during the 2nd quarter. Morgan Stanley now owns 1,764,950 shares of the technology company’s stock worth $105,457,000 after purchasing an additional 1,601,885 shares in the last quarter. State of Wisconsin Investment Board increased its holdings in Zillow Group by 37.8% during the 2nd quarter. State of Wisconsin Investment Board now owns 1,055,864 shares of the technology company’s stock worth $63,088,000 after purchasing an additional 289,824 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its holdings in Zillow Group by 67.1% during the 3rd quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 597,847 shares of the technology company’s stock worth $26,425,000 after purchasing an additional 239,989 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Zillow Group by 2.6% during the 2nd quarter. Northern Trust Corp now owns 260,584 shares of the technology company’s stock worth $15,570,000 after purchasing an additional 6,580 shares in the last quarter. Hedge funds and other institutional investors own 25.73% of the company’s stock.

Zillow Group Company Profile

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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Analyst Recommendations for Zillow Group (NASDAQ:ZG)

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