Zillow Group (ZG) Given a $50.00 Price Target by Canaccord Genuity Analysts

Zillow Group (NASDAQ:ZG) has been given a $50.00 price target by Canaccord Genuity in a research note issued to investors on Wednesday, The Fly reports. The firm currently has a “buy” rating on the technology company’s stock. Canaccord Genuity’s target price would indicate a potential upside of 22.70% from the stock’s current price.

A number of other research analysts have also issued reports on ZG. DA Davidson set a $52.00 price target on Zillow Group and gave the stock a “hold” rating in a research report on Tuesday, August 7th. Cowen reiterated a “hold” rating and set a $50.00 price target on shares of Zillow Group in a research report on Tuesday, August 7th. ValuEngine upgraded Zillow Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 23rd. Jefferies Financial Group boosted their price target on Zillow Group from $60.00 to $76.00 and gave the stock a “hold” rating in a research report on Tuesday, July 31st. They noted that the move was a valuation call. Finally, Craig Hallum reiterated a “hold” rating and set a $45.00 price target on shares of Zillow Group in a research report on Tuesday, August 7th. They noted that the move was a valuation call. Fourteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $46.06.

NASDAQ:ZG opened at $40.75 on Wednesday. Zillow Group has a 12-month low of $36.55 and a 12-month high of $65.42. The company 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 quick ratio of 8.13, a current ratio of 8.18 and a debt-to-equity ratio of 0.14.

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

Several institutional investors have recently made changes to their positions in the company. Bank of Montreal Can lifted its holdings in shares of Zillow Group by 2.9% in the second quarter. Bank of Montreal Can now owns 33,865 shares of the technology company’s stock valued at $2,024,000 after buying an additional 970 shares during the period. TD Asset Management Inc. lifted its holdings in shares of Zillow Group by 4.3% in the second quarter. TD Asset Management Inc. now owns 24,300 shares of the technology company’s stock valued at $1,452,000 after buying an additional 1,000 shares during the period. Amalgamated Bank lifted its holdings in shares of Zillow Group by 10.4% in the second quarter. Amalgamated Bank now owns 12,331 shares of the technology company’s stock valued at $737,000 after buying an additional 1,163 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Zillow Group by 33.9% in the second quarter. State of Alaska Department of Revenue now owns 6,359 shares of the technology company’s stock valued at $379,000 after buying an additional 1,610 shares during the period. Finally, Strs Ohio lifted its holdings in shares of Zillow Group by 42.5% in the third quarter. Strs Ohio now owns 5,928 shares of the technology company’s stock valued at $262,000 after buying an additional 1,767 shares during the period. Institutional investors and hedge funds own 25.73% of the company’s stock.

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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