Zillow Group, Inc. (NASDAQ:ZG)‘s stock had its “outperform” rating reiterated by investment analysts at Royal Bank Of Canada in a research note issued on Thursday. They currently have a $49.00 price objective on the technology company’s stock, up from their previous price objective of $48.00. Royal Bank Of Canada’s price objective indicates a potential upside of 12.93% from the company’s previous close.
A number of other research analysts also recently weighed in on the company. Zacks Investment Research raised Zillow Group from a “sell” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Thursday, April 13th. Cowen and Company upped their price target on Zillow Group from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Monday, May 15th. Bank of America Corporation reaffirmed a “buy” rating and set a $53.00 price target (up from $45.00) on shares of Zillow Group in a research note on Wednesday, June 21st. Benchmark Co. increased their price objective on Zillow Group from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, May 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $48.00 price objective (up from $41.00) on shares of Zillow Group in a research note on Friday, May 5th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $45.29.
Zillow Group (NASDAQ ZG) opened at 43.39 on Thursday. The company’s market capitalization is $7.95 billion. Zillow Group has a 12-month low of $31.17 and a 12-month high of $50.91. The company’s 50 day moving average price is $46.64 and its 200-day moving average price is $40.31.
Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Tuesday, August 8th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.11. Zillow Group had a negative return on equity of 5.65% and a negative net margin of 19.58%. The firm had revenue of $266.85 million for the quarter, compared to analyst estimates of $262.21 million. During the same period last year, the company posted ($0.71) earnings per share. The firm’s quarterly revenue was up 28.0% compared to the same quarter last year. Equities analysts forecast that Zillow Group will post $0.45 earnings per share for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG raised its position in shares of Zillow Group by 1,595.6% in the first quarter. UBS Group AG now owns 741,317 shares of the technology company’s stock valued at $25,064,000 after buying an additional 697,598 shares during the period. Vanguard Group Inc. raised its position in shares of Zillow Group by 11.9% in the first quarter. Vanguard Group Inc. now owns 4,192,272 shares of the technology company’s stock valued at $141,741,000 after buying an additional 444,184 shares during the period. Norges Bank purchased a new position in shares of Zillow Group during the fourth quarter valued at $15,520,000. State of Wisconsin Investment Board raised its position in shares of Zillow Group by 88.1% in the second quarter. State of Wisconsin Investment Board now owns 605,427 shares of the technology company’s stock valued at $29,569,000 after buying an additional 283,536 shares during the period. Finally, Caledonia Private Investments Pty Ltd raised its position in shares of Zillow Group by 1.7% in the first quarter. Caledonia Private Investments Pty Ltd now owns 13,360,188 shares of the technology company’s stock valued at $451,708,000 after buying an additional 225,096 shares during the period. 26.82% of the stock is owned by institutional investors.
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