Zillow Group, Inc. (ZG) Rating Reiterated by Bank of America Corporation

Zillow Group, Inc. (NASDAQ:ZG)‘s stock had its “buy” rating restated by stock analysts at Bank of America Corporation in a report issued on Wednesday. They presently have a $53.00 price target on the technology company’s stock, up from their prior price target of $45.00. Bank of America Corporation’s target price would indicate a potential upside of 8.01% from the stock’s current price.

A number of other equities research analysts also recently commented on ZG. Zacks Investment Research upgraded Zillow Group from a “sell” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Thursday, April 13th. Benchmark Co. upped their price objective on Zillow Group from $43.00 to $46.00 and gave the company a “buy” rating in a report on Friday, May 5th. Cowen and Company upped their price objective on Zillow Group from $37.00 to $40.00 and gave the company a “market perform” rating in a report on Monday, May 15th. Needham & Company LLC reiterated a “buy” rating and issued a $48.00 price objective (up previously from $41.00) on shares of Zillow Group in a report on Friday, May 5th. Finally, Royal Bank Of Canada upped their price objective on Zillow Group from $40.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, May 5th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Zillow Group currently has an average rating of “Buy” and an average target price of $42.20.

Analyst Recommendations for Zillow Group (NASDAQ:ZG)

Zillow Group (NASDAQ:ZG) opened at 49.07 on Wednesday. The company’s 50-day moving average price is $43.76 and its 200-day moving average price is $37.97. Zillow Group has a 12-month low of $31.17 and a 12-month high of $49.10. The firm’s market capitalization is $8.99 billion.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Thursday, May 4th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.08. Zillow Group had a negative net margin of 19.58% and a negative return on equity of 5.65%. The firm had revenue of $245.80 million for the quarter, compared to analyst estimates of $236.04 million. During the same period last year, the company earned ($0.13) EPS. The company’s revenue was up 32.2% compared to the same quarter last year. Equities analysts expect that Zillow Group will post $0.45 EPS for the current fiscal year.

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Several large investors have recently made changes to their positions in the company. State Street Corp increased its stake in shares of Zillow Group by 4.5% in the fourth quarter. State Street Corp now owns 550,414 shares of the technology company’s stock valued at $20,063,000 after buying an additional 23,512 shares during the period. Norges Bank acquired a new stake in shares of Zillow Group during the fourth quarter valued at about $15,520,000. Russell Investments Group Ltd. acquired a new stake in shares of Zillow Group during the fourth quarter valued at about $1,733,000. Hartline Investment Corp increased its stake in shares of Zillow Group by 4.9% in the first quarter. Hartline Investment Corp now owns 150,396 shares of the technology company’s stock valued at $5,085,000 after buying an additional 7,060 shares during the period. Finally, Rafferty Asset Management LLC acquired a new stake in shares of Zillow Group during the first quarter valued at about $314,000. Institutional investors own 26.78% of the company’s stock.

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