ValuEngine Upgrades Zillow Group (NASDAQ:ZG) to Buy

ValuEngine upgraded shares of Zillow Group (NASDAQ:ZG) from a hold rating to a buy rating in a report issued on Thursday morning, ValuEngine reports.

Several other research firms have also issued reports on ZG. Bank of America upped their price objective on Zillow Group from $31.00 to $35.00 and gave the company an underperform rating in a research note on Friday, May 10th. BidaskClub upgraded Zillow Group from a buy rating to a strong-buy rating in a research note on Tuesday, July 2nd. Jefferies Financial Group upped their price objective on Zillow Group from $36.00 to $40.00 and gave the company a hold rating in a research note on Friday, May 10th. KeyCorp restated an overweight rating and issued a $66.00 price objective on shares of Zillow Group in a research note on Friday, July 19th. Finally, Canaccord Genuity set a $52.00 price objective on Zillow Group and gave the company a hold rating in a research note on Wednesday, June 19th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Zillow Group has an average rating of Hold and a consensus price target of $46.09.

Shares of NASDAQ ZG opened at $48.94 on Thursday. The company’s 50 day moving average is $47.20. Zillow Group has a 52 week low of $26.20 and a 52 week high of $59.42. The company has a quick ratio of 3.98, a current ratio of 4.73 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $10.15 billion, a PE ratio of -188.23 and a beta of 0.83.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Thursday, May 9th. The technology company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.08. The firm had revenue of $454.10 million for the quarter, compared to analyst estimates of $432.09 million. Zillow Group had a negative return on equity of 3.18% and a negative net margin of 11.35%. The business’s revenue for the quarter was up 51.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.07 earnings per share. As a group, sell-side analysts forecast that Zillow Group will post -1.61 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State of Wisconsin Investment Board grew its position in Zillow Group by 94.0% during the first quarter. State of Wisconsin Investment Board now owns 1,819,535 shares of the technology company’s stock worth $62,228,000 after buying an additional 881,815 shares in the last quarter. Norges Bank acquired a new stake in Zillow Group during the fourth quarter worth approximately $28,753,000. Geode Capital Management LLC grew its position in Zillow Group by 6.4% during the fourth quarter. Geode Capital Management LLC now owns 479,865 shares of the technology company’s stock worth $15,082,000 after buying an additional 28,766 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Zillow Group by 17.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 321,335 shares of the technology company’s stock worth $10,100,000 after buying an additional 46,861 shares in the last quarter. Finally, Filament LLC grew its position in Zillow Group by 1.2% during the second quarter. Filament LLC now owns 216,530 shares of the technology company’s stock worth $9,908,000 after buying an additional 2,567 shares in the last quarter. Institutional investors own 24.18% of the company’s stock.

About Zillow Group

Zillow Group, Inc operates real estate and home-related brands on mobile and the Web in the United States. The company offers a portfolio of brands and products to empowering consumers with unparalleled data, inspiration, and knowledge around homes and connecting them with real estate 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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