Zillow Group, Inc. (NASDAQ:ZG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm currently has a $46.00 price target on the technology company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 12.77% from the company’s current price.

According to Zacks, “Zillow Group, Inc. provides real estate and home-related brands on the Web and mobile. The company focuses on home lifecycle which include renting, buying, selling, financing and home improvement. Its portfolio of consumer brands consists of Zillow(R), Trulia(R), StreetEasy(R) and HotPads(R). The company’s business brands includes ActiveRain(R), Diverse Solutions(R), Market Leader(R), Mortech(R), Postlets(R) and Retsly(TM). Zillow Group Inc., formerly known as Zillow Inc., is headquartered in Seattle. “

ZG has been the subject of a number of other reports. 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 report on Friday, May 5th. Royal Bank Of Canada upped their price objective on shares of Zillow Group from $40.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, May 5th. Stephens reissued an “overweight” rating and issued a $54.00 price objective (up from $48.00) on shares of Zillow Group in a research report on Monday, June 19th. Craig Hallum reissued a “buy” rating on shares of Zillow Group in a research report on Thursday, June 22nd. Finally, Cowen and Company upped their price objective on shares of Zillow Group from $37.00 to $40.00 and gave the company a “market perform” rating in a research report on Monday, May 15th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Zillow Group presently has an average rating of “Buy” and a consensus price target of $45.07.

Zillow Group (NASDAQ ZG) opened at 40.79 on Wednesday. The stock’s market capitalization is $7.56 billion. Zillow Group has a 12-month low of $31.17 and a 12-month high of $50.91. The company has a 50-day moving average price of $45.64 and a 200-day moving average price of $40.43.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Tuesday, August 8th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by $0.11. Zillow Group had a negative net margin of 4.47% and a negative return on equity of 0.40%. The company had revenue of $266.85 million during the quarter, compared to analyst estimates of $262.21 million. During the same quarter in the prior year, the company posted ($0.71) earnings per share. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. On average, equities research analysts forecast that Zillow Group will post $0.49 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Zillow Group, Inc. (ZG) Upgraded by Zacks Investment Research to “Buy”” was reported by Watch List News and is the property of of Watch List News. If you are accessing this article on another domain, it was stolen and reposted in violation of United States and international trademark & copyright legislation. The original version of this article can be accessed at https://www.watchlistnews.com/zillow-group-inc-zg-upgraded-by-zacks-investment-research-to-buy/1494432.html.

Several hedge funds and other institutional investors have recently bought and sold shares of ZG. Renaissance Technologies LLC acquired a new position in Zillow Group during the fourth quarter valued at about $846,000. UBS Asset Management Americas Inc. acquired a new position in Zillow Group during the fourth quarter valued at about $200,000. Teachers Advisors LLC raised its position in Zillow Group by 9.2% in the fourth quarter. Teachers Advisors LLC now owns 48,482 shares of the technology company’s stock valued at $1,767,000 after buying an additional 4,100 shares during the period. Fox Run Management L.L.C. acquired a new position in Zillow Group during the first quarter valued at about $213,000. Finally, Palisade Capital Management LLC NJ acquired a new position in Zillow Group during the first quarter valued at about $406,000. Institutional investors and hedge funds own 26.92% of the company’s stock.

Get a free copy of the Zacks research report on Zillow Group (ZG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Zillow Group (NASDAQ:ZG)

Receive News & Ratings for Zillow Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zillow Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.