JMP Securities Boosts Zillow Group (NASDAQ:ZG) Price Target to $82.00

Zillow Group (NASDAQ:ZG) had its price objective boosted by equities research analysts at JMP Securities from $62.00 to $82.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “market outperform” rating on the technology company’s stock. JMP Securities’ price target indicates a potential upside of 15.07% from the stock’s current price.

Several other equities analysts have also recently issued reports on ZG. Craig Hallum boosted their target price on shares of Zillow Group from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. DA Davidson increased their target price on shares of Zillow Group from $52.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Piper Sandler restated an “overweight” rating and issued a $73.00 price target (up previously from $62.00) on shares of Zillow Group in a research note on Thursday. Susquehanna increased their price target on Zillow Group from $42.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Finally, Wedbush raised Zillow Group from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $50.00 to $80.00 in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.06.

Zillow Group Stock Performance

ZG stock opened at $71.26 on Thursday. Zillow Group has a one year low of $34.33 and a one year high of $72.03. The firm has a market cap of $16.49 billion, a price-to-earnings ratio of -125.02 and a beta of 2.02. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.12 and a current ratio of 2.12. The firm has a 50-day simple moving average of $59.60 and a two-hundred day simple moving average of $50.51.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.31 by $0.08. The firm had revenue of $572.00 million during the quarter, compared to analyst estimates of $538.36 million. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.34%. Zillow Group’s revenue was up 13.0% on a year-over-year basis. During the same period last year, the firm posted ($0.05) EPS. On average, equities analysts forecast that Zillow Group will post -0.33 EPS for the current fiscal year.

Insider Activity

In other Zillow Group news, CFO Jeremy Hofmann sold 4,729 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $52.85, for a total value of $249,927.65. Following the transaction, the chief financial officer now owns 118,394 shares of the company’s stock, valued at $6,257,122.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Dan Spaulding sold 2,991 shares of Zillow Group stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $53.18, for a total value of $159,061.38. Following the completion of the sale, the insider now directly owns 70,342 shares of the company’s stock, valued at approximately $3,740,787.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jeremy Hofmann sold 4,729 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $52.85, for a total value of $249,927.65. Following the transaction, the chief financial officer now directly owns 118,394 shares in the company, valued at approximately $6,257,122.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,596 shares of company stock valued at $3,938,581 in the last quarter. Insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

A number of large investors have recently modified their holdings of the stock. Future Financial Wealth Managment LLC purchased a new position in Zillow Group in the third quarter worth approximately $29,000. EntryPoint Capital LLC acquired a new position in shares of Zillow Group during the first quarter worth $53,000. GAMMA Investing LLC grew its stake in shares of Zillow Group by 86.7% during the third quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock worth $75,000 after purchasing an additional 561 shares in the last quarter. Signaturefd LLC increased its holdings in Zillow Group by 29.7% in the second quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock valued at $71,000 after buying an additional 360 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in Zillow Group in the first quarter valued at $84,000. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Zillow Group Company Profile

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.