KeyCorp Initiates Coverage on Zillow Group, Inc. (ZG)
Investment analysts at KeyCorp initiated coverage on shares of Zillow Group, Inc. (NASDAQ:ZG) in a research note issued on Monday. The brokerage set an “equal weight” rating on the technology company’s stock.
Several other research firms have also recently issued reports on ZG. Zacks Investment Research upgraded Zillow Group from a “sell” rating to a “hold” rating in a report on Saturday, March 25th. Royal Bank Of Canada raised their price objective on Zillow Group from $40.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, May 5th. Benchmark Co. raised their price objective on Zillow Group from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Needham & Company LLC restated a “buy” rating and set a $48.00 price objective (up previously from $41.00) on shares of Zillow Group in a report on Friday, May 5th. Finally, Cowen and Company raised their price objective on Zillow Group from $37.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, May 5th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $42.20.
Shares of Zillow Group (ZG) traded up 1.01% during trading on Monday, reaching $46.88. The company had a trading volume of 292,490 shares. The firm’s 50 day moving average price is $45.23 and its 200 day moving average price is $38.56. Zillow Group has a 12 month low of $31.17 and a 12 month high of $50.91. The firm’s market capitalization is $8.59 billion.
Zillow Group (NASDAQ:ZG) last announced its earnings results on Thursday, May 4th. The technology company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by $0.08. The company had revenue of $245.80 million for the quarter, compared to analyst estimates of $236.04 million. Zillow Group had a negative net margin of 19.58% and a negative return on equity of 5.65%. Zillow Group’s quarterly revenue was up 32.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.13) EPS. Equities analysts predict that Zillow Group will post $0.45 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp raised its position 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 purchased a new position in shares of Zillow Group during the fourth quarter valued at $15,520,000. Russell Investments Group Ltd. purchased a new position in shares of Zillow Group during the fourth quarter valued at $1,733,000. Hartline Investment Corp raised its position 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 purchased a new position in shares of Zillow Group during the first quarter valued at $314,000. 26.78% of the stock is currently owned by institutional investors and hedge funds.
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