Zillow Group's Price Target Raised by DA Davidson to $80.00

Zillow Group (NASDAQ:ZG – Free Report) received an increase in its target price from DA Davidson, moving from $75.00 to $80.00, as reported in a research note released recently. DA Davidson maintains a buy rating on the company’s stock, indicating their positive outlook for Zillow Group.

In addition to DA Davidson, other research firms have also adjusted their price targets for Zillow Group. Evercore ISI recently raised its price target from $55.00 to $75.00 while assigning an “outperform” rating in a report dated November 7th. Another firm, Piper Sandler, increased its target price significantly from $73.00 to $93.00 and rendered an “overweight” rating on December 6th.

Barclays, meanwhile, lifted its target for Zillow Group from $36.00 to $50.00 but issued an “underweight” rating in a report on November 8th. On November 7th, the Royal Bank of Canada raised its price target from $66.00 to $74.00 and also gave Zillow an “outperform” rating. Lastly, Craig Hallum increased their price objective from $70.00 to $95.00, assigning a “buy” rating in a report published on November 27th.

Overall, there is a diverse range of opinions on Zillow Group, with one equity analyst issuing a sell rating, four providing a hold rating, and twelve offering buy ratings. According to MarketBeat.com, the average rating for the stock is currently classified as “Moderate Buy,” with a consensus price target set at $73.00.

Zillow Group Trading Performance

As of the latest trading session, Zillow Group shares opened at $68.38 on Wednesday. The company has seen a 12-month low of $38.06 and a high of $83.67. With solid liquidity, Zillow Group boasts a current ratio of 3.13 and a quick ratio of 3.13. The company maintains a low debt-to-equity ratio of 0.11.

The stock has demonstrated volatility with a 50-day moving average of $73.70 and a 200-day moving average of $60.51. With a market capitalization of $15.97 billion, the company has a price-to-earnings ratio of -119.96 and exhibits a beta of 2.09, suggesting heightened activity compared to the overall market.

Zillow Group recently disclosed its quarterly earnings results on November 6th. The company reported earnings per share (EPS) of $0.35, outperforming analysts’ expectations that had estimated $0.32 by $0.03. Despite having a negative net margin of 6.17% and a negative return on equity of 2.33%, Zillow recorded total revenue of $581 million for the quarter, surpassing analyst projections of $555.45 million. This represented a year-over-year revenue increase of 17.1%, as the same quarter last year saw a loss of ($0.12) EPS. Analysts expect Zillow Group to report an EPS of -0.34 for the current fiscal year.

Insider Activity and Institutional Trading

In related news, insider Susan Daimler sold 3,694 shares of Zillow Group stock during a transaction on November 13th, with an average selling price of $73.98, totaling approximately $273,282.12. After this transaction, Daimler holds 18,770 shares valued at around $1.39 million, marking a 16.44% reduction in ownership. This sale was noted in a filing with the SEC.

Additionally, Chief Technology Officer David A. Beitel sold 56,750 shares on November 15th at an average price of $72.39, amounting to about $4.11 million, which reflects a staggering 99.84% decrease in his holdings. In total, insiders have sold 139,689 shares worth approximately $10.40 million in the last ninety days. Currently, corporate insiders own 17.14% of the company's shares.

On the institutional side, several large investors have either bought or sold shares of Zillow Group. Future Financial Wealth Management LLC acquired a new position valued at $29,000 during the third quarter, while Versant Capital Management Inc purchased shares worth about $72,000 in the fourth quarter. Additionally, GAMMA Investing LLC increased its stake in Zillow by 86.7%, owning 1,208 shares valued at $75,000. Other notable acquisitions include Pinpoint Asset Management Ltd and Walleye Capital LLC, with stakes valued at approximately $95,000 and $212,000 respectively. Currently, institutional investors and hedge funds own 20.32% of Zillow Group’s shares.

Zillow Group Overview

Zillow Group, Inc operates several real estate brands through mobile applications and websites throughout the United States. The company provides premier agent and rental marketplaces, new construction marketplaces, advertising solutions, and business technology services, among other offerings. Additionally, Zillow Group specializes in mortgage originations, sales of mortgages, and title and escrow services.

Zillow, Price, Target