Canaccord Genuity Analysts Give Zillow Group (ZG) a $50.00 Price Target

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Canaccord Genuity set a $50.00 price target on Zillow Group (NASDAQ:ZG) in a research note issued to investors on Wednesday, The Fly reports. The firm currently has a buy rating on the technology company’s stock.

A number of other research firms have also recently commented on ZG. Zacks Investment Research upgraded Zillow Group from a sell rating to a hold rating in a research note on Monday, July 16th. Bank of America cut Zillow Group from a buy rating to a neutral rating and lowered their target price for the company from $70.00 to $60.00 in a research note on Tuesday, August 7th. Royal Bank of Canada lowered their target price on Zillow Group to $46.00 and set an in-line rating for the company in a research note on Tuesday, August 7th. DA Davidson set a $52.00 target price on Zillow Group and gave the company a hold rating in a research note on Tuesday, August 7th. Finally, Jefferies Financial Group lowered their target price on Zillow Group from $60.00 to $52.00 and set a hold rating for the company in a research note on Tuesday, August 7th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. The stock has an average rating of Hold and an average price target of $43.65.

Shares of ZG traded up $0.89 on Wednesday, reaching $30.45. The stock had a trading volume of 998,408 shares, compared to its average volume of 971,864. The company has a debt-to-equity ratio of 0.21, a quick ratio of 8.13 and a current ratio of 11.72. Zillow Group has a 12-month low of $29.00 and a 12-month high of $65.42.

Zillow Group (NASDAQ:ZG) last released its earnings results on Tuesday, November 6th. The technology company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.04. The company had revenue of $343.09 million during the quarter, compared to analysts’ expectations of $343.73 million. Zillow Group had a positive return on equity of 0.06% and a negative net margin of 7.94%. As a group, analysts expect that Zillow Group will post -0.14 EPS for the current year.

A number of hedge funds have recently bought and sold shares of ZG. Elmwood Wealth Management Inc. bought a new position in Zillow Group during the 3rd quarter valued at approximately $150,000. Engineers Gate Manager LP bought a new position in Zillow Group during the 3rd quarter valued at approximately $208,000. First Capital Advisors Group LLC. bought a new position in Zillow Group during the 2nd quarter valued at approximately $223,000. Strs Ohio bought a new position in Zillow Group during the 2nd quarter valued at approximately $248,000. Finally, Lourd Capital LLC bought a new position in Zillow Group during the 3rd quarter valued at approximately $281,000. 25.73% of the stock is owned by institutional investors.

Zillow Group Company Profile

Zillow Group, Inc operates real estate and home-related information marketplaces on mobile and the Web in the United States. The company offers a portfolio of brands and products to enable consumers find information about homes and connect with local professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.

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Analyst Recommendations for Zillow Group (NASDAQ:ZG)

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